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Accion International
ACCION Invests in Tanzania's Akiba Commercial Bank
June 6th, 2008
ACCION(R) Investments, a for-profit company providing equity for microfinance institutions, and ACCION International, a leading nonprofit microfinance organization, 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 capitalization program. Existing shareholders, including international investors such as Incofin, FMO, Stichting Hivos-Triodos Fonds and Stichting Triodos-Doen, and Tanzanian investors...
Source: Health Business Week (2008-06-06)
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