PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

569910

Primary Business Area

Access To Finance

Disclosure Date

Jul 9, 2013

Country

Zambia

Region

Africa

IFC Approval Date

May 31, 2012

Status

Completed

Estimated Total Budget

$777,000.00
(Project budget includes all project-funded activities)

Last Updated Date

Sep 30, 2022

Project Estimated End Date

Dec 31, 2015

Project Description

The project consists of an equity investment and technical assistance funding for the establishment and expansion of AB Bank Zambia (AB Zambia or ABZ). ABZ will be a greenfield microfinance bank sponsored by Access Microfinance Holding AG (AccessHolding), an investment company, and LFS Financial Systems, an associated German consulting firm with recognized expertise in microfinance. The Bank will specialize in providing a broad range of financial services to urban and semi-urban micro, small and medium enterprises as well as low income individuals in Zambia. The purpose of the project is to expand crucial financial services to a sector that rarely has access to services offered by formal financial institutions.

Development Results