Advans SA, a Luxembourg-based venture capital company, has announced the launching of operations by its ninth affiliated microfinance institution, Advans Tunisie. Advans Tunisie was created in September 2013 and obtained its license to operate from the Tunisian Finance Ministry in January 2015. Advans SA is the majority shareholder of the microbank, with other stakeholders including the Sanad Fund for MSME (micro-, small and medium-sized enterprises), which is supported by the European Union and the German government; Amen Bank, a Tunisian bank; and Inaam, a holding company backed by “socially-oriented” Tunisian investors.
Gael Briot, CEO of Advans Tunisie said, “In providing access to credit to Tunisian entrepreneurs across a range of economic sectors, such as the wholesale and retail, craft, small industry, service and small farming sectors, Advans Tunisie aims to foster sustainable economic development in the country” [1].
As of 2013, the Advans network serves approximately 322,000 loan clients via 140 branches in eight countries: Cambodia, Cameroon, Côte d’Ivoire, Democratic Republic of the Congo, Ghana, Pakistan, Tanzania and Nigeria. As of March 2013, Advans SA held total assets of EUR 45.0 million (USD 61.7 million) and committed capital of EUR 43.6 million (USD 58 million).
As of 2014, Sanad has raised total investor commitments of USD 123 million, with USD 90 million in approved investments.
By Jeff Pierce, Research Associate
About Advans SA
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. As of 2013, the Advans network serves approximately 322,000 loan clients via 140 branches in eight countries: Cambodia, Cameroon, Côte d’Ivoire, Democratic Republic of the Congo, Ghana, Pakistan, Tanzania, and Nigeria. As of March 2013, Advans SA held total assets of EUR 45.0 million (USD 61.7 million) and committed capital of EUR 43.6 million (USD 58 million).
About Sanad Fund for MSME
The Sanad Fund for MSME (micro-, small and medium-sized enterprise) provides “medium- and long-term” loan and equity to financial institutions in the Middle East and North Africa with the intent of strengthening MSMEs as well as local financial markets in general. It is an initiative of the German development bank Kreditanstalt für Wiederaufbau (KfW), and it is funded by the EU and the German Federal Ministry of Economic Cooperation and Development, which is known by its German acronym BMZ. Sanad was founded in 2011 and is domiciled in Luxembourg. It focuses in Algeria, Iraq, Jordan, Lebanon, Morocco, the Palestinian Territories, Syria and Yemen with an emphasis on Egypt and Tunisia. As of 2014, Sanad has raised total investor commitments of USD 123 million, with USD 90 million in approved investments.
Sources and Additional Resources
[1] Advans Press Release: “Advans Tunisie launches operations in Tunis,” http://www.advansgroup.com/fileadmin/Advans/Press%20releases/20150313_CP_Advans_Tunisie_launch_of_operations.pdf
MicroCapital, June 26, 2013, “Advans SA to Create Tunisian Microfinance Institution Advans Tunisie,” https://www.microcapital.org/microcapital-brief-advans-sa-to-create-tunisian-microfinance-institution-advans-tunisie/
MicroCapital Universe Profile: Advans SA
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Advans+SA
MicroCapital Universe Profile: Sanad Fund
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