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IFC Financing to Micro, Small, and Medium Enterprises in Sub-Saharan Africa Key Highlights

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IFC Financing to Micro, Small, and Medium Enterprises in Sub-Saharan Africa Key Highlights IFC Financing to Micro, Small, and Medium Enterprises in Sub-Saharan Africa Key Highlights IFC is working to develop solutions to close the micro, small, and $342 million for trade finance. In fiscal year 2011 alone, IFC MSME medium enterprise (MSME1) financing gap, collaborating with commitments in the region were $1,095 million. In addition, IFC’s 69 financial institutions across 23 countries in Sub-Saharan Africa. microfinance institution (MFI) clients had 157,000 loans outstanding to micro-enterprises in Sub-Saharan Africa by end of 2010, totaling As of June 2011, IFC committed a total of $1.8 billion to $128.3 million. Similarly, IFC’s SME financial institution (SME FI) MSME finance in Sub-Saharan Africa, $1.48 billion for long term clients had 34,000 loans outstanding to SMEs by end of 2010, finance (including $220 million for funds supporting MSMEs), and totaling $4.2 billion in this region. MSME Financial Intermediary Portfolio, June 2011 IFC’s Committed Portfolio in MSME Financial Institutions IFC’s Regional Committed Portfolio in MSME in Sub-Saharan Africa2 Financial Institutions 1,400 2% 1,200 13% Europe & Central Asia 1,000 East Asia & the Caribbeans 6% 34% s n 800 Latin America & the Caribbeans o illi Middle East & North Africa 600 M 11% South Asia 400 Sub-Saharan Africa 200 19% 15% WORLD 0 FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 MSME Loans by IFC Clients, December 2010 MSME Loans by Microfinance Institutions MSME Loans by SME Financial Institutions IFC was able to survey or extrapolate outreach data from IFC was able to survey or extrapolate outreach data from 23 SME FI 17 microfinance clients in 12 countries, 53 percent of these clients clients in 12 countries, 35 percent of these clients received advisory received advisory services from IFC. services from IFC. Number of Outstanding Average NPL Number of Outstanding Average NPL Loans Loan Portfolio Loan %3 Loans Loan Portfolio Loan %3 Outstanding in $ Size Outstanding in $ Size Micro Loans 156,852 128,281,102 818 2 Micro Loans 43,774 159,838,313 3,651 4 Small Loans 6,240 46,188,248 7,402 2 Small Loans 24,940 687,791,294 27,578 5 Medium Loans 506 10,526,371 20,803 2 Medium Loans 9,235 3,523,557,877 381,550 9 1. MSME Firm Size Definitions: IFC’s Global Financial Markets categorizes its clients’ sub-borrowers according to the following definitions: (1) Microenteprises if loan < $10,000 at origination; (2) Small Business if loan < $100,000 at origination; (3) Medium Business if loan < $1 million at origination ($2 million for more advanced countries). 2. The committed portfolio in MSME FIs below does not include commitments for commercial banking trade finance and collective investment vehicles. 3. Nonperforming Loan (NPL) = > 90 days past due loans. “The IFC Outreach Data and Factsheets communicate achievements and showcase successes in our MSME Access to Finance Strategy. They present aggregated results achieved by IFC-supported financial intermediaries with their MSME clients.” Growth Trends Microfinance Institutions MFI Loans SME Loans f s 150 200 o 60 10 f s n o s n o s o 100 s 40 s nd n illi 100 5 n illi nd a a a a 50 s 20 M o M o s u L L u o 0 0 0 0 o h h T 2007 2008 2009 2010 T 2007 2008 2009 2010 Micro Loans $ Micro Loans # SME Loans $ SME Loans # SME Financial Institutions MFI Loans SME Loans f f s 200 150 o 6 40 o n s s s o n 100 s 4 s o nd n nd n illi 100 20 a a a a illi 50 s 2 M s o o B u u L L o 0 0 0 0 o h h T 2007 2008 2009 2010 2007 2008 2009 2010 T Micro Loans $ Micro Loans # SME Loans $ SME Loans # Client Highlight: EB-Accion Microfinance—Cameroon, Ghana, and Nigeria Objective and Client Needs: EB-ACCION Microfinance is a unique IFC is also a founding investor in Accion Microfinance Company, microfinance partnership between ACCION International, Ecobank Accion International’s investment vehicle with a 13 percent equity Group (ETI), and IFC. stake. Further, IFC and Accion are currently working side by side in about 15 MFIs globally where Accion is a shareholder and IFC has ACCION International is a reputable provider of financial services to interests. excluded segments of society with over 50 years experience globally. Ecobank Group is a leading public limited company established in IFC is a key investor in Ecobank. Recently, IFC committed investments 1985 and is today a full-service regional banking institution, present totaling US$175 million to Ecobank and its group subsidiaries. The in over 30 African countries, providing financial solutions to businesses IFC investments will be made in part through the IFC Capitalization and consumers. Fund. IFC with Ecobank Transnational Incorporated (ETI) and Accion Development Impact: As of June 30, 2011 the three institutions International strategically decided to venture into the low-income had over 20,000 borrowers with a total of US$16.04 million in loans segments to provide financial services to micro, small, and medium outstanding. The number of staff stood at 524, operating out of scale enterprises, resulting in the creation of Accion Microfinance 21 branches and one satellite office. As the institutions expand in Bank in Nigeria (2006/2007); EB Accion Ghana (2007/2008); outreach, more satellite offices will be set-up, especially in rural areas. EB Accion Cameroon (2009/2010). EB ACCION Microfinance has achieved great success in mobilizing EB-ACCION Microfinance leverages Ecobank’s existing branch deposits valued at US$9.82 million for 105,000 depositors. The infrastructure, payment services and distribution networks to achieve financial institutions offer several account options, some interest operational efficiency while Accion International provides extensive bearing to match deposit and savings needs. Moreover, the institutions technical and management support to the established entities. are placing strong emphasis on deposit mobilization which is intended to significantly grow deposit volumes over the following years, after All three institutions offer a range of financial services including a having increased by over 50 percent in the last year. This strategy will variety of savings products, micro loans and small scale SME loans, as continue to ease liquidity constraints and facilitate strong loan well as micro insurance and money transfer services through partners. portfolio growth for the EB Accion microfinance institutions. IFC’s Involvement: IFC made equity investments of US$1.89 million EB Accion Ghana was also awarded, ‘Microfinance Institution/Project in Accion Microfinance Bank in Nigeria, US$1.2 million in EB-Accion of the Year’ at the 2011 African Banker Awards which was held in Ghana and US$1.1 million in EB-Accion Cameroon. IFC has provided September, 2011 in Washington DC. technical assistance grants amounting to US$0.8 million to EB Accion Ghana and US$1 million to EB Accion Cameroon in support of these institutions. Ghada Teima | [email protected] Khaleel Ahmed | Kahmed@ifc,org Martin Holtmann | [email protected] Martin Hommes | [email protected].
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