December 30, 2019
Bamboo Capital Partners exits indirect stake in Accion Microfinance Bank after helping to triple portfolio of active borrowers
Bamboo has successfully exited its indirect stake in one of the leading microfinance banks in Nigeria, Accion Microfinance Bank (‘Accion MfB’). Accion MfB strives to economically empower micro-entrepreneurs and low-income earners by providing financial services in a sustainable, ethical and profitable manner. Since Bamboo’s investment via its Financial Inclusion Fund (FIF) in 2012, Accion MfB has grown its portfolio of active borrowers by 3.5 times from 14,000 to 50,000 active loans in 2019, with women representing over half (58%) of current loan clients. Bamboo’s stake in Accion MfB will now be held by global nonprofit and financial inclusion pioneer Accion.