Advans SA, a microfinance investment vehicle (MIV) registered in Luxembourg that mobilizes funds for microfinance institutions (MFIs), has announced that it has scheduled the opening of the first branch of its sixth microfinance bank (MFB), Advans Bank Tanzania, in Dar es Salaam in December of this year.
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MICROCAPITAL BRIEF: The International Finance Corporation (IFC) Invests $1.1m in Microfinance Institution (MFI) Advans Ghana
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has announced that it will invest GHS 1.58 million (USD 1.1 million) in Advans Ghana, a microfinance institution (MFI) established in 2008 that belongs to the Luxembourg-based Advans Group.
MICROCAPITAL BRIEF: Microfinance Institution (MFI) Advans Banque Congo Increases Capital to $13m
Advans Banque Congo, a microfinance institution (MFI) operated by Luxembourg-based Advans SA, recently met the Congolese central bank’s requirement of a minimum of USD 13 million in capital. The new capital was provided by existing shareholders Advans SA, the African Development Bank (AfDB), the German development bank KfW, and the World Bank’s International Finance Corporation (IFC).
MICROCAPITAL BRIEF: Advans SA Raises $33m in Second Round of Fundraising From Existing Shareholders
Advans SA, a Luxembourg-based organization that mobilizes funds for microfinance institutions (MFIs), has raised EUR 23 million (USD 33 million) in its second round of fundraising.
‘Advans SA’ of Luxembourg Creates Subsidiary ‘Advans Côte d’Ivoire’ to Provide Microfinance Services in the West African Country
Advans SA, a Luxembourg-based “international venture capital company specialised in microfinance” has announced the creation of a new subsidiary in Côte d’Ivoire called “Advans Côte d’Ivoire” [1,2]. This will be Advans SA’s fifth subsidiary after Advans Banque Congo, Advans Ghana, Advans Cameroun, and Amret, an microfinance institution (MFI) in Cambodia [1,2]. Advans Côte d’Ivoire will be tasked with providing access to formal financial services for micro, small, and medium enterprises (MSMEs) in Côte d’Ivoire in an effort to “foster growth” [1]. It will provide loans as well as savings [1]. Its operations will begin in Abidjan, the largest city in the country [1]. Eventually, Advans Côte d’Ivoire will extend its services to other major cities and rural areas [1]. Advans SA, as of March 31 2008, has assets worth EUR 7.4 million [2].
KNOW A MICROFINANCE FUND: Advans SA
Overview:
The Advans SA fund is a microfinance investment vehicle which mobilizes funds for microfinance institutions (MFIs).
PRESS RELEASE: LuxFLAG Grants Microfinance Investment Vehicle Label to Advans SICAR
Source: Advans Group.
MICROCAPITAL.ORG STORY: Microfinance Institutions, Advans Ghana and Advans Cameroun, Boast Increased Capital by €1m & €2.3m Respectively
Advans Ghana and Advans Cameroun, two microfinance institutions (MFIs) operating under Advans SA Sicar (Advans SA), recently reported capital increases of EUR 1 million and EUR 2.3 million respectively [1]. Advans SA is managed by Horus Development Finance, a French consulting firm that provides technical assistance to microfinance institutions in developing countries. It owns and frequently partners with Advans SA on projects. Financial data on Horus is not available on MIX Market or on the firm’s website. Co-investors on Advans SA include: Agence Française de Développement (AFD), European Investment Bank (EIB), Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden N.V. (FMO), International Finance Corporation (IFC) and KfW Entwicklungsbank (KfW) [2].
PRESS RELEASE: Advans SA SICAR Launches Microfinance Bank in Democratic Republic of the Congo: Advans Banque Congo
Source: Advans.
PRESS RELEASE: Advans and Horus Sign Euro 2 million Grant with European Investment Bank
Source: Advans Group.
PRESS RELEASE: Advans SA of Luxembourg Opens Microfinance Institution in Ghana
Source: Advans SA.
MICROCAPITAL STORY: British Government-sponsored CDC Group to Invest $10.5m of Equity in Luxembourgian Venture Capital Firm Advans SA
Advans SA, a Luxembourgian venture capital firm that specializes in microfinance ventures, recently announced it raised EUR 7 million (USD 10.5 million) in equity capital from CDC Group, a private equity fund of funds sponsored by the British government. CDC’s investment aims to support Advans’ expansion of investments in Asian and African microfinance institutions (MFIs). The deal will consist of two financing rounds: CDC has committed to an initial round of EUR 3 million (USD 4.5 million) in equity, and plans to invest EUR 4 million (USD 6.5 million) of equity during a subsequent round of Advans-planned fundraising in early 2009.
NEWS WIRE: Luxembourg: Advans, Venture Capital Firm Specializing in Microfinance Institutions in Africa, Asia, Raises $10.5m from CDC Group
Source: Private Equity Hub.
PRESS RELEASE: Microfinance Institution Advans Cameroun Increases Capital to €1.5m, Sells Shares to IFC (International Finance Corporation)
Source: Advans SA.
MICROCAPITAL STORY: International Finance Corporation (IFC) to Join German Development Bank Kreditanstalt für Wiederaufbau (KfW) and Venture Capital Firm Advans Group in Launching Commercial Microfinance Institution Advans Banque Congo; Will Provide up to $3.1m in Debt and Equity
IFC (International Finance Corporation), a member of the World Bank Group, has announced it will provide financial assistance in the launching of commercial microfinance institution (MFI) Advans Banque Congo. Based in the Democratic Republic of Congo, Advans Banque Congo will provide microloans to small enterprises and individuals located in the country’s urban areas. IFC’s support of the commercial MFI is its latest project in a campaign to expand microlending to 400,000 entrepreneurs in Africa’s poorest regions.
PRESS RELEASE: African Development Bank (AfDB) Approves $1.1m Equity Investment in Microfinance Institution Advans Bank Congo (ABC)
Micro-enterprises and SMEs in the Democratic Republic of Congo will benefit from an equity investment of USD 1.1 million in Advans Bank of Congo and a technical assistance grant of EUR 650,000 (USD 970,000), approved by the Board of Directors of the African Development Bank.
MICROCAPITAL BRIEF: Sama Money Acquires Première Agence de MicroFinance, Entering Microcredit Market in Mali
Sama Money, a provider of mobile money services in Burundi, Côte d’Ivoire and Mali, recently purchased the Malian microfinance institution Première Agence de MicroFinance (PAMF), after receiving approval from the Central Bank of West African States to operate as an Electronic Money Establishment (EME).
SPECIAL REPORT: Fintechs vs MFIs – a Debate at European Microfinance Week
At Thursday’s debate on “high-tech” versus “high-touch” financial services at European Microfinance Week, Dorcas Thorpe of Nigeria’s LAPO Microfinance Bank argued that customers in rural areas are more likely to access financial services via high-touch channels such as branches and agents rather than mobile money because they have – on average – lower levels of digital literacy and trust in digital financial services. Gregoire Lecomte of