BlueOrchard Finance SA, a subsidiary of Switzerland-based BlueOrchard Microfinance Investment Managers, has announced that it will provide a local-currency loan of XAF 500 million (USD 1.1 million) to Advans Cameroun, a microfinance institution (MFI) operating in Cameroon. The loan is being disbursed by BlueOrchard’s Dexia Micro-Credit Fund (DMCF) and will be used to increase lending to micro-, small and medium-sized enterprises (MSMEs) across the country.
Advans Cameroun, a member of the Advans SA SICAR group of financial institutions, offers credit and savings services to MSMEs. As of December 31, 2010, Advans Cameroun reports to the US-based nonprofit Microfinance Information Exchange (MIX) a gross loan portfolio of USD 12.5 million, total deposits of USD 6.6 million and 7,177 active borrowers. As of March 31, 2010, Advans SA SICAR reported total assets of USD 23.4 million and supported MFIs in Cameroon, Ghana, Tanzania, Democratic Republic of the Congo and Cambodia according to the organization’s website.
About BlueOrchard Microfinance Investment Managers:
BlueOrchard is a Switzerland-based, commercial microfinance intermediary that provides loans to microfinance institutions through its subsidiary BlueOrchard Finance SA and invests in the equity of microfinance institutions and microfinance network funds through its subsidiary BlueOrchard Investments SA. BlueOrchard had approximately USD 1.1 billion under management as of April 2011.
About Advans Cameroun:
Advans Cameroun is a microfinance institution (MFI) operating in Cameroon as a member of the Advans SA group of financial institutions, which is registered in Luxembourg. Advans Cameroun has offered credit and savings services to micro-, small and medium-sized enterprises (MSMEs) since it began operations in 2007. As of December 31, 2010, Advans Cameroun reports to the US-based nonprofit Microfinance Information Exchange (MIX) a gross loan portfolio of USD 12.5 million, total deposits of USD 6.6 million and 7,177 active borrowers.
About Advans SA:
Advans SA SICAR (Advans SA) is a venture capital company registered in Luxembourg and managed by Horus Development Finance Horus, whose mission is to broaden access to financial services for micro-, small and medium-sized enterprises (MSMEs) in developing countries and emerging economies. Its modus operandi is to invest as lead shareholder in the creation of financial institutions. In addition to equity and debt funding, Advans SA provides technical assistance to MSMEs to promote sustainable and profitable operations. Advans microfinance institutions (MFIs) in Cameroon, Ghana, Tanzania, Democratic Republic of the Congo and Cambodia serve approximately 245,000 loan clients from 61 branches and have an outstanding loan portfolio of approximately EUR 55 million (USD 75.7 million) as of 2010. Advans SA plans to establish 6 to 7 new MFIs in Africa, Asia and the Middle East by 2013. LuxFLAG, an organization that certifies that microfinance vehicles actually invest in the microfinance sector, most recently certified Advans as of April 2011. The organization reported total assets of USD 23.4 million as of March 31, 2010.
By Rohan Trivedi, Research Associate
Sources and Additional Resources:
[1] BlueOrchard Press Release: “BlueOrchard makes inaugural loan of XAF 500 million (USD 1.1 million) to Advans Cameroun”, http://www.blueorchard.com/jahia/Jahia/cache/bypass/newsArchive_1?displayNewsArchive=true#5352
MicroCapital.org story, May 31, 2011: “MICROCAPITAL BRIEF: Advans Ghana Receives Investment of $4.52 from Société Générale, IFC, Triodos; Advans Cameroun Receives Loans of $2.45m from MicroVest, REGMIFA”, https://www.microcapital.org/microcapital-brief-advans-ghana-receives-investment-of-4-52-from-societe-generale-ifc-triodos-advans-cameroun-receives-loans-of-2-45m-from-microvest-regmifa/
MicroCapital.org story, May 11, 2011: “MICROCAPITAL BRIEF: BlueOrchard Invests $1m in Svasti Microfinance Private Limited of India”, https://www.microcapital.org/microcapital-brief-blueorchard-invests-1m-in-svasti-microfinance-private-limited-of-india/
MicroCapital.org story, December 22, 2010: “MICROCAPITAL BRIEF: International Finance Corporation (IFC) Lends $1M to Cameroonian Microfinance Institution (MFI) Advans Cameroun”, https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-lends-1m-to-cameroonian-microfinance-institution-mfi-advans-cameroun/
MicroCapital Universe Profile: BlueOrchard Microfinance Investment Managers, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=BlueOrchard+Microfinance+Investment+Managers
MicroCapital Universe Profile: Advans Cameroun, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Advans+Cameroun
MicroCapital Universe Profile: Advans SA, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Advans+SA
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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