The International Finance Corporation (IFC), a member of the US-based World Bank Group, has formed an agreement with Advans Ghana Savings and Loans, a non-bank financial institution and member of Luxembourg’s Advans Group, to improve access to the Business Edge training program in Ghana. [1]
The Business Edge program trains entrepreneurs operating small and medium-size enterprises (SMEs) regarding how to increasing their management capacity, efficiency and productivity through the following six topics: marketing, human resources, finance, operations, personal productivity skills and tourism and hospitality management [2]. The program has trained approximately 170,000 entrepreneurs in 30 countries around the world since its inception in 2002. The new agreement between IFC and Advans Ghana will allow 240 SMEs in Ghana to access Business Edge training and is implemented by four consulting firms: Cicada Consulting Limited, Esprit de Corps (EDC) Consulting Limited, Rainbow Consult and 2MB Consulting Services Limited. The training methodology is customized for each SME.
As of 2012, Advans Ghana had EUR 3.8 million (USD 4.89 million) in outstanding loans and a total of EUR 1.2 million (USD 1.54 million) in deposits. Advans Group is a network of 95 financial institutions focusing on micro enterprise. IFC offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. As of 2012, IFC has 184 member countries, total assets of USD 75.8 billion, return on assets of 1.8 percent, return on capital of 6.5 percent and USD 15.5 billion mobilized to 576 projects.
By Meghan Gillis, Research Associate
About International Finance Corporation (IFC)
A member of the US-based World Bank Group, the International Finance Corporation (IFC) offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. As of 2012, IFC has 184 member countries, total assets of USD 75.8 billion, return on assets of 1.8 percent, return on capital of 6.5 percent and USD 15.5 billion mobilized to 576 projects.
About Advans Ghana Savings and Loans
Advans Ghana Savings and Loans Limited is a non-bank financial institution founded in 2008 with a headquarters in Accra Newtown and 10 total branches. Advans Ghana is a member of the Advans Group, a network of financial institutions focusing on micro enterprise. As of 2012, Advans Ghana had EUR 3.8 million (USD 4.89 million) in outstanding loans and a total amount of EUR 1.2 million (USD 1.54 million) in deposits.
About Advans SA SICAR
Launched in 2005, Advans SA SICAR is a venture capital company that is registered in Luxembourg and managed by Horus Development Finance of France. The mission of Advans is to increase access to financial services for micro-, small and medium-sized enterprises (MSMEs) in emerging economies. In addition to equity and debt funding for microfinance institutions (MFIs), Advans provides technical assistance to MSMEs in an effort to assist them in achieving sustainable and profitable operations. The Advans network serves 360,000 loan clients via 95 branches in seven countries: Cambodia, Cameroon, Côte d’Ivoire, Democratic Republic of the Congo, Ghana, Pakistan and Tanzania. As of March 2012, Advans SA held total assets of EUR 33.5 million (USD 44.5 million) and committed capital of EUR 43.6 million (USD 58 million).
Sources and Additional Resources
[1] International Finance Corporation: “IFC Signs Agreement to Increase Access to Business Training to 240 Small and Medium Enterprises in Ghana,”http://www.ifc.org/IFCExt/Pressroom/IFCPressRoom.nsf/0/BCA3BC15279A883E85257B73004DDEAF
[2] Business Edge: “Ghana,” http://www.businessedge-africa.com/training_ghana.php
MicroCapital brief, May 29, 2013, “MICROCAPITAL BRIEF: Azerbaijan Microfinance Association Considers Credit Bureau for Microlenders,” https://www.microcapital.org/microcapital-brief-azerbaijan-microfinance-association-considers-credit-bureau-for-microlenders/
MicroCapital brief, May 14, 2013, “MICROCAPITAL BRIEF: IFC, Canadian International Development Agency (CIDA), Atlantic Bank of Belize Extend Effort to Improve Access to Small, Medium-Sized Enterprises, Increase Portfolio to $35m by 2014,” https://www.microcapital.org/microcapital-brief-ifc-canadian-international-development-agency-cida-atlantic-bank-of-belize-extend-effort-to-improve-access-to-small-medium-sized-enterprises-increase-portfolio-to-35m-by-201/
MicroCapital brief, January 2, 2013, “MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $5m to La Nacional of the Dominican Republic for Housing, Small and Medium-Sized Enterprise (SME) Lending,” https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-loans-5m-to-la-nacional-of-the-dominican-republic-for-housing-small-and-medium-sized-enterprise-sme-lending/
MicroCapital brief, December 19, 2012, “MICROCAPITAL BRIEF: International Finance Corporation (IFC) Launching Business Edge Training Program in South Sudan,” https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-launching-business-edge-training-program-in-south-sudan/
MicroCapital brief, November 17, 2011, “MICROCAPITAL BRIEF: International Finance Corporation (IFC) Mobilizes $40m to Support Peruvian Microfinance Institution Mibanco,” https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-mobilizes-40m-to-support-peruvian-microfinance-institution-mibanco/
MicroCapital brief, May 23, 2011, “MICROCAPITAL BRIEF: International Finance Corporation (IFC) Delivers “Business Edge” Training to Help Staff of Cameroonian Microfinance Institution (MFI) Advans Cameroun Support Micro-, Small and Medium-Sized Enterprises (MSMEs),” http://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-delivers-“business-edge”-training-to-help-staff-of-cameroonian-microfinance-institution-mfi-advans-cameroun-support-micro/
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