• Where We Work
• ACCION in Africa
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• Meet Microentrepreneurs
  • Africa
  • Asia
  • Latin America & the Caribbean
  • USA

Yes! I want to support microfinance and empower people to work their way out of poverty.

ACCION Microfinance Bank, Limited

Managing Director/CEO: Bunmi Lawson
Active Borrowers: 8,368
Active Portfolio: $5,722,000
Average First Loan: $684
Portfolio at Risk > 30 Days: 9.60%
Savers: 38,516
Savings Balance: $1,543,000
Statistics as of May 2010

Mission: ACCION Microfinance Bank (AMfB) is a Nigerian microfinance provider with the mission of economically empowering microentrepreneurs and low-income earners with financial services in a sustainable, ethical and profitable manner. The bank’s vision is to be the market leader in the provision of microfinance and related financial services at world class standards.

History: AMfB commenced operations in May 2007 after receiving its license from the Nigerian Central Bank on April 20th, 2007. In July 2007, AMfB approved 286 loans with demand outstripping capacity. The bank continued an aggressive expansion in outreach, reaching a total of 812 active loans and 387 savings accounts in just five months. Within that same timeframe, AMfB opened five branches and increased the average number of clients per loan officer to 81.

ACCION’s Role: ACCION International partners with AMfB to provide technical assistance in the areas of methodology design and implementation, information technology and staff training. ACCION Investments in Microfinance, SPC, a Boston-based investment arm of ACCION International, invested a 24% share of initial capital and has maintained this percentage ownership. AMfB’s Managing Director/CEO position is held by an ACCION resident advisor.

Borrower Profile: AMfB’s borrowers are 100 percent from the trade and retail industries. Currently, 59 percent of its clients are women.

What’s New: ACCION Microfinance Bank now operates seven branches throughout Lagos and has more than 20,000 clients with savings accounts, demonstrating the appeal and demand for formal, secure financial services for the poor.

Recently, AMfB refined its loan product features to cater to slightly larger micro-businesses and launched a pilot for fixed-asset loans. The two products have been well received by clients. The savings product offering was also expanded to include an investment fixed-deposit product for institutional or individual investors who have a social mission.

Program Growth: 

Contact Us:

Website: www.accionmfb.com