EB-Accion Microfinance

EB-Accion Microfinance is the result of a unique partnership between Accion and Ecobank, a pan-African bank covering 29 countries across the continent. EB-Accion Microfinance offers microfinance services – including small loans, savings and remittances products – to merchants, manufacturers and other microentrepreneurs out of a main branch office in Douala, Cameroon.

Statistics as of February 2013

Background

In 2006, Accion entered into an agreement with Ecobank to create microfinance institutions through which to offer financial services to low-income entrepreneurs in West and Central Africa. As part of the agreement, Accion brings its technical expertise and leadership in the microfinance sector, while Ecobank offers the opportunity to leverage its infrastructure and extensive network of banks to deliver high-quality financial services.

At the end of 2006, Ecobank and Accion launched EB-Accion Savings & Loans Company in Ghana. The new entity received its license from the Bank of Ghana in March 2008 and commenced lending the same month at two branches in the markets of Tudu and Abeka Lapaz. EB-Accion Savings & Loans serves as the template for future microfinance institutions created in Africa through the Ecobank-Accion partnership.

In April 2010, EB-Accion Microfinance Cameroon, a microfinance institution formed through this partnership opened the doors of its first two branches in Douala, at the Mboppi and Congo markets.

EB-Accion Microfinance Cameroon pursues innovative and efficient ways of distributing these tailored financial services to its clients. EB-Accion Microfinance leverages Ecobank's existing branch infrastructure, payment service and distribution networks to maximize operational efficiency and control costs. A personnel of approximately 50 Cameroonians work alongside a team of Accion staff members.

Both EB-Accion companies in Ghana and Cameroon are also supported by the IFC, a member of the World Bank Group.