Access Africa Fund

AAF is a microfinance investment fund established in 2010 to reduce poverty and promote financial inclusion in Sub-Saharan Africa.

Company Description

Access Africa Fund LLC (AAF) is a microfinance investment fund established in 2010 to reduce poverty and promote financial inclusion in Sub-Saharan Africa, which meshes well with MEDA's mission of creating business solutions to poverty. Focused on low income financial institutions serving the base of the pyramid in Africa, it was launched with an $8 million investment by CARE USA as a joint initiative with MicroVest to increase access to financial services for the region's vast unbanked population.

Impact

AAF serves 269,887 micro entrepreneur clients through 15 investments in Rwanda, Cameroon, Ghana, Tanzania, Uganda and Zambia. The fund is predicated on the belief that sub-Saharan Africa is at a tipping point and will soon join the global economy. AAF serves as a capital intermediary by investing in Tier II and Tier III MFIs in local currency debt, equity and quasi-equity instruments. It seeks a significant development impact while preserving the capital of investors and returning a modest financial return.