The International Finance Corporation (IFC), the private investment arm of the World Bank Group, has agreed to train branch managers, loan officers and other staff of microfinance institution (MFI) Advans Cameroun using IFC’s Business Edge program. The training program is intended to help staff better diagnose clients’ business problems and provide strategic guidance to micro-, small and medium-sized enterprises (MSMEs) in Cameroon.
Business Edge is a series of training modules designed by IFC, covering five topics: human resources, marketing, finance, operations and personal productivity skills. The program has already been tested in Cameroon, where IFC has partnered with six consulting firms to train businessmen and women using Business Edge. IFC has implemented its Business Edge program in Mozambique, Lesotho and other developing countries [2,3].
Advans Cameroun was established in 2007 and is a member of the Advans SA group of financial institutions. As of December 31, 2009, Advans Cameroun reported 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. Advans SA also has microfinance operations in Ghana, Tanzania, Democratic Republic of Congo and Cambodia.
By Rohan Trivedi, Research Asssociate
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 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 based 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 Advans SA:
Advans SA SICAR (Advans SA) is a venture capital company registered in Luxembourg, 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. Microfinance institutions (MFIs) supported by Advans SA 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. Advans SA reported total assets of USD 23.4 million as of March 31, 2010.
Sources and Additional Resources:
[1] International Finance Corporation (IFC) Press Release: “IFC Helps ADVANS Cameroon Train Staff to Better Support Smaller Businesses”, http://www.ifc.org/ifcext/media.nsf/content/SelectedPressRelease?OpenDocument&UNID=D3226A240C22FF11852578950057B70D
[2] MicroCapital.org story, February 24, 2011: “MICROCAPITAL BRIEF: International Finance Corporation (IFC), Banco Comercial e de Investmentos (BCI) of Mozambique Connect Women Entrepreneurs With Training, Loans Through Small and Medium-Sized Enterprise (SME) Program”, https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-banco-comercial-e-de-investimentos-bci-of-mozambique-connect-women-entrepreneurs-with-training-loans-through-small-and-medium-sized-ente/
[3] MicroCapital.org story, July 16, 2010: “MICROCAPITAL BRIEF: The International Finance Corporation (IFC) Pledges Support for Microfinance Sector and Better Access to Credit for Small and Medium-Sized Businesses in Lesotho”, https://www.microcapital.org/microcapital-brief-the-international-finance-corporation-ifc-pledges-support-for-microfinance-sector-and-better-access-to-credit-for-small-and-medium-sized-businesses-in-lesotho/
Business Edge: http://www.businessedge-me.com/cms.php?id=landing_page
MicroCapital Universe Profile: International Finance Corporation (IFC), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+%28IFC%29
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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