Summary of Proposed Investment
Project Number
24633
Company Name
Access Microfinance Holding AG
Date SPI Disclosed
Aug 7, 2006
Country
World Region
Industry
Financial Markets
Projected Board Date
Sep 7, 2006
Status
Active
Sector
Microfinance and Small Business - Non Commercial Banking
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Oct 13, 2006
Signed : Oct 20, 2006
Invested : Oct 31, 2006
Project Description
The proposed project involves the creation of Access Microfinance Holding AG (AccessHolding), a commercial microfinance holding company that will make equity investments in microfinance institutions (MFIs) worldwide. AccessHolding will be established by LFS Financial Systems (LFS or the sponsor) with the participation of IFC and a group of other public and private investors. AccessHolding will be founded with an initial capital endowment of EUR18 million.
AccessHolding will focus on setting up new MFIs together with other like-minded investors, but will also invest in early-stage MFIs or non-bank financial institutions (NBFIs) with the aim of transforming them into full-service microfinance banks. Over time, AccessHolding aims to transform into a controlling parent company of a global network of microfinance banks with a common brand identity.
Investee MFIs will receive management, consulting and training services from LFS, as well as centralized holding services in areas such as internal audit, marketing, human resources, product development and rollout, risk management, and information management.
AccessHolding will focus on setting up new MFIs together with other like-minded investors, but will also invest in early-stage MFIs or non-bank financial institutions (NBFIs) with the aim of transforming them into full-service microfinance banks. Over time, AccessHolding aims to transform into a controlling parent company of a global network of microfinance banks with a common brand identity.
Investee MFIs will receive management, consulting and training services from LFS, as well as centralized holding services in areas such as internal audit, marketing, human resources, product development and rollout, risk management, and information management.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
LFS Financial Systems
Linienstr, 126 D-10115 Berlin, Germany
Telephone: +49 30 30 87 47 – 0
Fax: +49 30 30 87 50
Email: info@lfs-consulting.de
Website: www.lfs-consulting.de
Linienstr, 126 D-10115 Berlin, Germany
Telephone: +49 30 30 87 47 – 0
Fax: +49 30 30 87 50
Email: info@lfs-consulting.de
Website: www.lfs-consulting.de
For Inquiries and Comments About IFC, Contact
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster