Enabling Qapital Limited, a Switzerland-based investment advisory company, recently issued a loan of AZN 17 million (USD 10 million) to AccessBank, which was founded in 2002 to provide credit and other financial services to smaller businesses and low-income families in Azerbaijan. The three-year loan is to be used to finance the operational activities of micro-, small and medium-sized enterprises (MSMEs) in Azerbaijan.
Davit Tsiklauri, Board Chair of AccessBank, commented, “This financing is… the first one since 2016 that we signed with [an] international financial institution and marks the reopening of international capital markets for AccessBank. We are very glad to see the interest of foreign institutional investors in the Azerbaijani financial sector.”
As of December 2022, AccessBank reported total assets of AZN 1.2 billion (USD 705 million), deposits of AZN 860 million (USD 505 million) and a gross loan portfolio of AZN 813 million (USD 478 million).
Founded in 2008, Enabling Qapital advises its Enabling Microfinance Fund as well as Spark+ Africa, a fund investing in “clean, modern distributed energy solutions for cooking.” As of 2023, these funds together hold assets of USD 600 million. The firm has 50 employees, with offices in Canada, Ecuador, India, Kenya, Kyrgyzstan, Liechtenstein, Mexico, Pakistan, the Philippines and Switzerland.
By Vaughn Rajah, Research Associate
Sources and Additional Resources
AccessBank press release
https://www.accessbank.az/en/private/news/220288
AccessBank homepage
https://www.accessbank.az/
Enabling Qapital homepage
https://enabling.ch/
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