IFC and Access Bank Announce $500 Million Local Currency Financing Framework to Support African Businesses

Kigali, Rwanda – May 19, 2026: The International Finance Corporation (IFC) and Access Bank Plc have signed a landmark framework agreement of about $500 million equivalent to expand local currency financing for businesses across Africa.

The agreement was signed by Makhtar Diop, Managing Director, IFC, and Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC, at a ceremony held in Kigali, Rwanda.

The partnership reflects a shared commitment to strengthening African economies by aligning financing with the currencies in which businesses operate and earn, an approach that reduces foreign exchange risk and enhances financial stability.

The facility will support micro, small, and medium enterprises (MSMEs), agribusiness, housing, and infrastructure, while advancing the development of deeper and more resilient local currency financial markets across the continent.

Under the framework, financing will be deployed across multiple African markets, enabling private sector growth and unlocking investment opportunities in high-impact sectors. Commenting, Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC, said: “Access Bank is pleased to deepen its long-standing partnership with IFC through this landmark local currency borrowing framework.

This partnership provides a strong regional platform to expand access to local currency financing across Nigeria and multiple African markets, including Angola, Botswana, CEMAC, DRC, Ghana, Tanzania, UEMOA, Uganda, and Zambia.

“By combining Access Bank’s extensive African footprint with IFC’s development finance capabilities, the framework will support the deployment of funding at scale to MSMEs, infrastructure, agribusiness, housing, and other high-impact sectors, while helping to strengthen domestic financial markets and advance economic resilience across Africa.”In his remarks, Makhtar Diop, Managing Director, IFC, said: “African businesses grow stronger when financing is aligned with the currencies in which they operate and earn. This partnership will help deepen local currency markets and support sustainable private sector growth across the continent.”

This collaboration brings together IFC’s global expertise in development finance and Access Bank’s extensive regional footprint to deliver financing solutions that address critical gaps in African markets.

By channeling long-term capital into priority sectors, the initiative will contribute to economic resilience, job creation, food security, and improved access to housing and infrastructure.

The agreement comes as African governments and financial institutions increasingly push for local currency financing structures to reduce exposure to dollar shortages, exchange-rate volatility, and rising external borrowing costs.

For media inquiries, please contact:
Olakunle Aderinokun
Head, Media and Public Relations Access Holdings Plc aderinokuno@accessholdingsplc.com