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Article: ACCION Invests in Tanzania's Akiba Commercial Bank.
- Article from:
- PR Newswire
- Article date:
- May 22, 2008
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New Capital, Management Contract and Technical Assistance Will Help Akiba Expand Operations and Services for Low-Income Tanzanians
BOSTON, May 22 /PRNewswire/ -- ACCION(R) Investments, a for-profit company providing equity for microfinance institutions, and ACCION International, a leading nonprofit microfinance organization, today announced that they will invest in, and provide technical assistance to, Tanzania's Akiba Commercial Bank. The move is designed to help Akiba expand its operations and financial services, particularly in microfinance.
ACCION Investments will take a 20 percent share in the bank, investing up to $2.5 million as part of a new ...