Advans SA, a microfinance investment vehicle (MIV) registered in Luxembourg, recently reported to MicroCapital that two of its holdings have received local-currency refinancing loans. Advans Cameroun has received XAF 1.17 billion (USD 2.45 million) and Advans Ghana has received GHS 6.88 milion (USD 4.52 million). The investments are intended to be used to increase the size of the microlenders’ loan portfolios and client bases.
Advans Cameroun, an MFI operating in Cameroon, has accepted loans of XAF 667 million (USD 1.4 million) from the Access Africa Fund, a microfinance investment vehicle (MIV) operated by MicroVest, and XAF 500 million (USD 1.05 million) from the Regional MSME Investment Fund for Sub-Saharan Africa (REGMIFA), an investment fund managed by Symbiotics. As of December 31, 2009, Advans Cameroun reports to the US-based nonprofit Microfinance Information Exchange (MIX) a gross loan portfolio of USD 5.6 million, total deposits of USD 2 million and 5,519 active borrowers.
Advans Ghana, has accepted loans of GHS 3.3 million (USD 2.17 million) from Société Générale – Social Security Bank (SG-SSB), the Ghanaian arm of France-based Société Générale Group; GHS 1.58 million (USD 1.04 million) from International Finance Corporation (IFC), the private investment arm of the World Bank Group; and GHS 2 million (USD 1.32 million) from Triodos Investment Management, a Netherlands-based fund manager. As of December 31, 2009, Advans Ghana reports to MIX a gross loan portfolio of USD 1.1 million, total deposits of USD 164,000 and 2,027 active borrowers.
By Rohan Trivedi, Research Associate
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.
About Advans Ghana:
Advans Ghana is a microfinance institution (MFI) operating in Ghana as a member of the Advans SA group of financial institutions, which is registered in Luxembourg. Advans Ghana has offered credit and savings services to micro-, small and medium-sized enterprises (MSMEs) since it began operations in 2008. As of December 31, 2009, Advans Ghana reports to the US-based nonprofit Microfinance Information Exchange (MIX) a gross loan portfolio of USD 1.1 million, total deposits of USD 164,000 and 2,027 active borrowers.
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, 2009, Advans Cameroun reports to the Microfinance Information Exchange (MIX) a gross loan portfolio of USD 5.6 million, total deposits of USD 2 million and 5,519 active borrowers.
About MicroVest Capital Management:
Launched in 2004 with USD 15 million, MicroVest is a family of funds that invest in microfinance institutions in emerging markets. MicroVest is headquartered in Washington, DC, and was founded by CARE, MEDA and the Seed Capital Development Fund. As of June 2010, MicroVest reported a combined microfinance institution (MFI) gross loan portfolio of USD 3.1 billion.
About The Regional MSME Investment Fund for Sub-Saharan Africa (REGMIFA):
The Regional MSME Investment Fund for Sub-Saharan Africa, SICAV-SIF (REGMIFA) is an investment fund focused on supporting micro-, small and medium-sized enterprises (MSMEs) by building partnerships among donors, development finance institutions and private investors. Launched in May 2010 by KfW, a German development bank and the German Ministry for Economic Cooperation and Development (BMZ), REGMIFA is organized as a Societe d’Investissement a Capital Variable (SICAV). REGMIFA does not report financial information to the US-based nonprofit data provider Microfinance Information Exchange (MIX).
About Symbiotics:
Founded in 2005, Symbiotics provides for-profit investment intermediary services to the microfinance industry as well as business services to investors and practitioners of micro- and small enterprise development. Overall, Symbiotics has been working with approximately twenty investment funds (MIVs) and a dozen institutional investors, providing USD 895 million of capital to about half a million micro-, small and medium-sized enterprises through 150 financial institutions in approximately 35 emerging economies.
About Société Générale SA:
Société Générale SA is a financial institution that was established in 1864 and is based in Paris. Société Générale operates in 85 countries and offers retail and private banking, corporate and investment banking and investment management services. As of December 31, 2010, Société Générale reported total assets equivalent to USD 1.5 billion and net income of USD 5.19 billion.
About International Finance Corporation (IFC):
A member of the 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 2011, IFC has 182 member countries that drive its policies and approve disbursements. As of June 30, 2010, IFC reports net income of USD 1.75 billion, total assets of USD 61 billion, return on assets of 3.1 percent and total investment mobilization of USD 18.4 billion to 528 projects.
About Triodos Investment Management:
Triodos Investment Management manages several funds that provide risk capital including Triodos Venture Capital Fund BV and Triodos Ventures BV. The firm invests specifically in the area of the development of financial sectors in developing countries, renewable energy finance and venture capital. Triodos also manages four microfinance investment funds: the Hivos-Triodos Fund, the Triodos-Doen Foundation, the Triodos Fair Share Fund and Triodos Microfinance Fund. As of December 31, 2010, Triodos’ four microfinance funds had USD 338 million in assets under management.
Sources and Additional Resources:
[1] Press Release submitted by Advans SA to MicroCapital, May, 2011
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.org story, September 27, 2010: “MICROCAPITAL BRIEF: The International Finance Corporation (IFC) Invests $1.1m in Microfinance Institution (MFI) Advans Ghana”, https://www.microcapital.org/microcapital-brief-the-international-finance-corporation-ifc-invests-1-1m-in-microfinance-institution-mfi-advans-ghana/
MicroCapital.org story, August 31, 2009: “MICROCAPITAL BRIEF: Microfinance Institutions, Advans Ghana and Advans Cameroun, Boast Increased Capital by €1m & €2.3m Respectively”, https://www.microcapital.org/microcapitalorg-story-microfinance-institutions-advans-ghana-and-advans-cameroun-boast-increased-capital-of-e25m-e23m-respectively/
MicroCapital Universe Profile: Advans SA, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Advans+SA
MicroCapital Universe Profile: Advans Ghana, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Advans+Ghana
MicroCapital Universe Profile: Advans Cameroun, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Advans+Cameroun
MicroCapital Universe Profile: MicroVest Capital Management, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=MicroVest+Capital+Management
MicroCapital Universe Profile: The Regional MSME Investment Fund for Sub-Saharan Africa (REGMIFA), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Regional+MSME+Investment+Fund+for+Sub-Saharan+Africa+SICAV-SIF+%28REGMIFA%29
MicroCapital Universe Profile: Symbiotics Group, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Symbiotics+Group
MicroCapital Universe Profile: Société Générale SA, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Societe+Generale
MicroCapital Universe Profile: International Finance Corporation (IFC), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+%28IFC%29
MicroCapital Universe Profile: Triodos Investment Management, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Triodos+Investment+Management
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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