Freetown, Sierra Leone, September 25, 2025 — To help address financing gaps, strengthen private sector growth, and promote inclusive economic development in Sierra Leone, IFC today announced a partnership with Access Bank (Sierra Leone) Ltd (ABSL) to increase access to finance for small and medium-sized enterprises (SMEs) in the country, particularly those owned and led by women.
Under the partnership, IFC will provide ABSL an unfunded risk-sharing facility of up to $10 million in local currency equivalent Sierra Leonean Leones, which is expected to support up to $20 million equivalent in new SME loans. ABSL will direct at least 25 percent of the financing to women-owned SMEs as part of its strategy to more than double their share in ABSL’s SME portfolio to over 50 percent within five years.
The risk-sharing facility is part of IFC’s Small Loan Guarantee Program (SLGP), which supports efforts to de-risk and scale up financing for SMEs in fragile and/or low-income markets. The SLGP benefits from a pooled first loss guarantee of $120 million provided by the International Development Association’s (IDA) Private Sector Window Blended Finance Facility (IDA PSW BFF). By providing local currency funding, IFC is helping ABSL hedge against currency fluctuations.
In addition to the facility, IFC will offer advisory support to help ABSL strengthen its operations and internal capacity for SME lending. The partnership also includes a component to provide training to employees at 50 SMEs, including women-led businesses, in financial and business management to enhance their credit readiness and long-term sustainability.
“Through our collaboration with IFC, Access Bank Sierra Leone is unlocking new opportunities for women entrepreneurs, extending access to finance in underserved markets, and strengthening the resilience of local businesses,” said Ganiyu Sanni, Managing Director of Access Bank Sierra Leone. “Together, we are driving inclusive finance and supporting sustainable growth across Sierra Leone.”
“This partnership with Access Bank Sierra Leone demonstrates IFC’s commitment to expanding access to finance in underserved markets and to unlocking the potential of women entrepreneurs,” said Abdu Muwonge, WBG Joint Country Representative for Sierra Leone. “SMEs are essential to driving job creation, and boosting resilience and growth in Sierra Leone, where they create the vast majority of jobs. With this partnership, we will help many access the financing they need to grow.”
According to the World Bank Group, SMEs, including micro-enterprises, account for nearly 90 percent of Sierra Leone’s private businesses and provide livelihoods for about 70 percent of the population. Yet, access to finance remains a major constraint, with only around 17 percent of these enterprises able to secure formal loans or credit. the financing gap.
IFC’s current investment portfolio is $43.5 million in Sierra Leone, with a focus on agribusiness and financial sector. IFC is actively engaged in energy, telecommunications, and agriculture value-chains. On the advisory side, IFC is working to expand financial inclusion and to strengthen ecosystems across key agricultural value chains.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
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About the IDA Private Sector Window
The International Development Association’s Private Sector Window (IDA PSW) was launched in 2017 to catalyze private sector investment in the poorest and most fragile countries. Recognizing the key role of the private sector in creating jobs and promoting economic transformation, the window provides a source of co-investment funding and guarantees to de-risk private investments supported by the World Bank Group’s International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA). The IDA PSW is an option when there is no commercial solution and the Bank Group’s other tools are insufficient. For more information, visit: http://ida.worldbank.org/psw.
About Access Bank Sierra Leone
Access Bank Sierra Leone, a subsidiary of Access Holdings Plc—one of Africa’s largest and most diversified financial services groups—has established itself as a leading financial institution in the country. With a growing footprint and strong shareholder backing, the Bank combines international expertise with a deep commitment to Sierra Leone’s economic progress. The Bank’s purpose is to make a positive impact in Africa. In Sierra Leone, this translates into expanding financial inclusion, enabling small and medium-sized enterprises to thrive, and supporting broader sustainable development goals. By embedding responsible practices across its operations, Access Bank Sierra Leone strives to deliver growth that is not only profitable but also meaningful for people, businesses, and communities. In collaboration with global development partners such as IFC, the Bank is working to unlock new opportunities for women entrepreneurs, extend access to finance in underserved markets, and strengthen the resilience of local businesses. The Bank is also ISO and PCIDSS certified.
For more information, please visit: sierraleone.accessbankplc.com/about-us/our-profile
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