Breaking barriers to finance: Abler Nordic teams up to invest in Agora Microfinance Zambia
Abler Nordic has teamed up with EDFI MC and IDH Farmfit Fund in a ~USD 6.26 million investment in Agora Microfinance Zambia
Abler Nordic, EDFI Management Company, and the IDH Farmfit Fund have joined forces in a strategic equity investment of ZMW 172,962,000 (~USD 6.26 million) in Agora Microfinance Zambia (AMZ) to support rural financial inclusion and sustainable development in Zambia. This investment will help AMZ expand its operations, including transforming into a deposit-taking microfinance institution.
Established in 2011 to improve financial access in rural Zambia, AMZ serves over 150,000 clients across Zambia's 10 provinces, focusing primarily on smallholder farmers and small traders. The institution operates through a network of 40 branches, reaching remote and underserved areas often neglected by other financial institutions.
AMZ's commitment to social impact has been recognized by 60 Decibels, ranking it as the 3rd best Microfinance Institution in Africa in the Microfinance Social Impact Awards. By 2030, AMZ aims to create 600 direct jobs, double the number of beneficiaries, and grow the agriculture-related portfolio by 400%.
"We’re looking forward to collaborating with the team to broaden access to financial services in rural Zambia. AMZ’s ranking among Africa’s top three in the 2024 60 Decibels Microfinance Index really shows the impact they’re making in rural communities. With 94% of the surveyed customers reporting increased income and 82% accessing loans for the first time, AMZ are reaching underserved areas that others shy away from,” said Arthur Sletteberg, Managing Director of Abler Nordic
This partnership reflects Abler Nordic's commitment to empowering rural communities through accessible financial services. Read the full press release here.
