FMO has signed a USD 25 mln facility (7 years, 5-year Grace), to Access Bank Ghana, the second largest subsidiary of our long-term partner Access Bank PLC.
Access Bank Ghana is currently the 12th largest bank in Ghana by assets (USD 680 mln), but with the ambitious goal of becoming a top 3 bank in Ghana in the next 5 years. The facility includes a USD 3.5 mln pilot line dedicated to supporting Access Bank Ghana’s female SME clients, the W initiative. Supporting women is an important part of FMO and partner Access Bank’s strategy. The W initiative dedicated to providing tailored banking services to women was launched in July 2014.