The project consists of an investment of up to US$87.5 million in Access Bank PLC (“Access Bank” or the “Bank”) in the form of a subordinated loan with a maturity of 10-years, callable after 5 years and with a 5-year grace period. The investment will enhance the Bank’s regulatory capital and enable to bank to scale up its lending program to micro, small and medium enterprises (“MSMEs’), including lending operations to women-owned MSMEs and climate smart projects.
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.
The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.
Access Bank Plc. is a leading full-service commercial Bank operating through a network of more than 592 branches and service outlets, spanning three continents, 12 countries and 29 million customers. The Bank employs 28,000 people in its operations in Nigeria and has subsidiaries in Sub-Saharan Africa and the United Kingdom (with a branch in Dubai, UAE) and representative offices in China, Lebanon and India.
Listed on the Nigerian Stock Exchange since 1998, Access Bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise and proven risk management and capital management capabilities. The Bank serves its various markets through four business segments: Retail, Business, Commercial and Corporate. The Bank has over 900,000 shareholders (including several Nigerian and International Institutional Investors). Following its merger with Diamond Bank in March 2019, Access Bank became one of Africa’s largest retail banks by retail customer base.
As part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible and socially relevant, helping customers to access more and achieve their dreams.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|Access Bank Group||Investor||Finance||invests in||Bk Of Ind Ltd||Parent Company||Construction|
|Access Bank Group||Investor||Finance||invests in||EA Field New Wells Drilling||Client||Mining|
|Access Bank Group||Investor||Finance||invests in||Eni SpA||Parent Company||Mining|
|Access Bank Group||Investor||Finance||invests in||Federal Republic of Nigeria||Parent Company||Mining|
|Access Bank Group||Investor||Finance||invests in||Nigeria Liquified Natural Gas||Client||Mining|
|Access Bank Group||Investor||Finance||invests in||Nigeria LNG Complex Train 7||Client||Mining|
|Access Bank Group||Investor||Finance||invests in||Nigerian National Petroleum Corporation||Parent Company||Mining|
|Access Bank Group||Investor||Finance||invests in||Project Cheetah (Infill||Client||Mining|
|Access Bank Group||Investor||Finance||invests in||Royal Dutch Shell||Parent Company||Mining|
|Access Bank Group||Investor||Finance||invests in||Royal Dutch Shell plc||Parent Company||Mining|
|Access Bank Group||Investor||Finance||invests in||STOGG Eagle Funding Ltd||Client||Mining|
|Access Bank Group||Investor||Finance||invests in||total||Parent Company||Mining|
|Eni SpA||Parent Company||Mining||owns||Nigeria LNG Complex Train 7||Client||Mining|
|Federal Republic of Nigeria||Parent Company||Mining||owns||Nigeria Liquified Natural Gas||Client||Mining|
|Federal Republic of Nigeria||Parent Company||Mining||owns||Project Cheetah (Infill||Client||Mining|
|Federal Republic of Nigeria||Parent Company||Mining||owns||STOGG Eagle Funding Ltd||Client||Mining|
|Nigerian National Petroleum Corporation||Parent Company||Mining||owns||Nigeria LNG Complex Train 7||Client||Mining|
|Royal Dutch Shell||Parent Company||Mining||owns||Nigeria LNG Complex Train 7||Client||Mining|
|Royal Dutch Shell plc||Parent Company||Mining||owns||EA Field New Wells Drilling||Client||Mining|
|total||Parent Company||Mining||owns||Nigeria LNG Complex Train 7||Client||Mining|
Access Bank PLC
Chief Financial Officer
+234 802 313 0935
Head OfficePlot 999C, Danmole Street, Off Idejo Street,Victoria Island, Lagos State, Nigeria
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/