AFG HOLDING ACQUIRES ACCESS MICROFINANCE HOLDING
Overview: AFG Holding SA has acquired a controlling stake in Access Microfinance Holding AG, enhancing its asset base to N150 billion.
Key Points:
1. Strategic Acquisition:
The acquisition includes key African microfinance institutions such as AB Microfinance Bank Nigeria and Access Bank Liberia.
This move aims to establish a pan-African banking group focused on digital financial services.
2. Leadership Insights:
AFG Holding Chairman Léon Koffi highlighted the synergy between AFG’s digital capabilities and AccessHolding’s expertise in risk management and microfinance, aiming to enhance financial inclusion across Africa.
3. Regulatory Approval:
The deal has received full regulatory approvals from various central banks and the Common Market for Eastern and Southern Africa.
As of December 2023, the combined loan portfolio of Access Holding’s African subsidiaries was EUR 135 million.
4. Transition Period:
A transition period will involve LFS Advisory GmbH, one of AccessHolding’s founding partners, to ensure a smooth handover.
This acquisition marks a significant step in AFG Holding’s ambition to expand its footprint in the African banking sector, leveraging digital innovations to improve access to financial services.
Overview: AFG Holding SA has acquired a controlling stake in Access Microfinance Holding AG, enhancing its asset base to N150 billion.
Key Points:
1. Strategic Acquisition:
The acquisition includes key African microfinance institutions such as AB Microfinance Bank Nigeria and Access Bank Liberia.
This move aims to establish a pan-African banking group focused on digital financial services.
2. Leadership Insights:
AFG Holding Chairman Léon Koffi highlighted the synergy between AFG’s digital capabilities and AccessHolding’s expertise in risk management and microfinance, aiming to enhance financial inclusion across Africa.
3. Regulatory Approval:
The deal has received full regulatory approvals from various central banks and the Common Market for Eastern and Southern Africa.
As of December 2023, the combined loan portfolio of Access Holding’s African subsidiaries was EUR 135 million.
4. Transition Period:
A transition period will involve LFS Advisory GmbH, one of AccessHolding’s founding partners, to ensure a smooth handover.
This acquisition marks a significant step in AFG Holding’s ambition to expand its footprint in the African banking sector, leveraging digital innovations to improve access to financial services.