ResponsAbility Social Investments, a Swiss investment company, recently disbursed the approximate equivalent of USD 1.9 million in subdebt to Advans Cameroun and the equivalent of USD 1.2 million in debt to MicroCred Senegal. ResponsAbility SICAV Mikrofinanz-Fonds (rAMF), a microfinance investment vehicle (MIV) managed by responsAbility Social Investments, disbursed a local-currency subdebt investment equivalent to USD 500,000 to Advans Cameroun and a local-currency debt investment equivalent to USD 625,000 to MicroCred Senegal. ResponsAbility Global Microfinance Fund (rAGMF), which invests in microfinance institutions and other MIVs, made a second local-currency subdebt investment equivalent to USD 1.4 million in Advans Cmeroun and another local-currency debt investment equivalent to USD 625,000 in MicroCred Senegal.
As of 2011, Advans Cameroun reports to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 22.3 million, a gross loan portfolio of USD 19.7 million, 9,100 active borrowers, total deposits of USD 8.1 million, 21,100 depositors, return on assets (ROA) of -1.39 percent and return on equity (ROE) of -10.83 percent. Advans Cameroun is one of seven members of the Advans SA group of financial institutions, which is registered in Luxembourg.
As of 2011, MicroCred Senegal reported to MIX total assets of USD 41.1 million, a gross loan portfolio of USD 34.7 million, approximately 21,800 borrowers, deposits of USD 19.3 million, 54,200 depositors, return on assets (ROA) of 2.91 percent and return on equity (ROE) of 18.23 percent. MicroCred Senegal was founded in 2007 by the MicroCred Group, which is an investment company of France-based PlaNet Finance. MicroCred Group has operations in China and four African countries.
As of September 2011, responsAbility reported total assets under management of approximately USD 1 billion. rAGMF reported to MIX assets of USD 532 million, and Mikrofinanz-Fonds reported assets of USD 141 million for the same year.
By Mihaela Grindeanu, Research Associate
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 2011, Advans Cameroun reports to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 22.3 million, a gross loan portfolio of USD 19.7 million, 9,100 active borrowers, total deposits of USD 8.1 million, 21,100 depositors, return on assets (ROA) of -1.39 percent and return on equity (ROE) of -10.83 percent.
About Advans Group: Advans SA SICAR (Advans SA) is a venture capital company that is registered in Luxembourg and managed by Horus Development Finance of France. The mission of Advans is to broaden access to financial services for micro-, small and medium-sized enterprises (MSMEs) in emerging economies. Its modus operandi is to invest as lead shareholder in the creation of financial institutions. In addition to equity and debt funding to microfinance institutions (MFIs), Advans SA provides technical assistance to MSMEs to promote sustainable and profitable operations. Advans’ MFIs in Cameroon, Ghana, Tanzania, Democratic Republic of the Congo and Cambodia serve approximately 245,000 loan clients with 61 branches and an outstanding loan portfolio of approximately EUR 55 million (USD 75.7 million) as of 2010. Advans SA plans to establish 6 or 7 new MFIs in Africa, Asia and the Middle East by 2013. Among these is La Fayette Microfinance Bank, which plans to open its doors in late 2012, Advans Cote d’Ivoire which began operating in early 2012, and Advans Pakistan which was incorporated in early 2012. LuxFLAG, an organization that certifies that microfinance vehicles actually invest in the microfinance sector, most recently certified Advans in April 2011.
About MicroCred Senegal: MicroCred Senegal is a microfinance institution (MFI) based in Dakar, Senegal, that offers both loans and voluntary savings services. It was founded in 2007 by the MicroCred Group, which is an investment company of France-basedPlaNet Finance. As of 2011, MicroCred Senegal reported to the US nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 41.1 million, a gross loan portfolio of USD 34.7 million, approximately 21,800 borrowers, deposits of USD 19.3 million, 54,200 depositors, return on assets (ROA) of 2.91 percent and return on equity (ROE) of 18.23 percent.
About MicroCred Group: MicroCred Group creates microfinance institutions (MFIs) and provides technical assistance to MFIs. MicroCred was created by French NGO PlaNet Finance and three investors: the International Finance Corporation (IFC), Société Générale and AXA Belgium. Those founding shareholders were joined by the French Development Agency (AFD in French) and the European Investment Bank (EIB) in 2007 and Developing World Markets (DWM) in 2008. MicroCred has operations in China, Madagascar, Senegal, Cote D’Ivoire and Nigeria. For 2010 MicroCred Group reported total assets of EUR 75.5 million (USD 100 million). MicroCred Nanchong of China, founded in 2006, held a gross loan portfolio of USD 20.5 million, total assets of USD 21.4 million, return on assets of 5.41 percent and return on equity of 8.05 percent as of 2010.
Sources and Additional Resources:
Information submitted by responsAbility to MicroCapital
MicroCapital Story, January 17, 2012: “MICROCAPITAL BRIEF: responsAbility Lends $3m to Microfinance Institutions Advans Cameroun, Opportunity International Bank of Malawi”, https://www.microcapital.org/microcapital-brief-responsability-lends-3m-to-microfinance-institutions-advans-cameroun-opportunity-international-bank-of-malawi/
MicroCapital Story, April 8, 2011: “MICROCAPITAL BRIEF: MicroCred Holding, MicroCred China Receive Capital Increases Totaling $31m, Including Participation From AXA Belgium, Developing World Markets, IFC, KfW”, https://www.microcapital.org/microcapital-brief-microcred-holding-microcred-china-receive-capital-increases-totaling-31m-including-participation-from-axa-belgium-developing-world-markets-ifc-kfw/
MicroCapital Universe Profile: Advans Cameroun, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Advans+Cameroun
MicroCapital Universe Profile: Advans Group, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Advans+SA
MicroCapital Universe Profile: MicroCred Senegal, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=MicroCred+Senegal
MicroCapital Universe Profile: MicroCred Group, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=MicroCred
MicroCapital Universe Profile: PlaNet Finance, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=PlaNet+Finance
MicroCapital Universe Profile: responsAbility Social Investments, http://microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility
MicroCapital Universe Profile: responsAbility Global Microfinance Fund, http://microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+%28rAGMF%29
MicroCapital Universe Profile: responsAbility Mikrofinanz-Fonds, http://microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Mikrofinanz-Fonds
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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