The Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, recently informed MicroCapital that it is extending the following local-currency loans: the equivalent of USD 1.24 million to Advans Cote d’Ivoire, a unit of Luxembourg’s Advans SA, and the equivalent of USD 950,000 to Premiere Agence de MicroFinance (PAMF) Cote d’Ivoire, an affiliate of Switzerland’s Aga Khan Agency for Microfinance.
Founded in 2012, Advans Cote d’Ivoire has a gross loan portfolio of EUR 74 million (USD 92 million), client deposits of EUR 46 million (USD 57 million), and 79,000 clients served via 12 branches as of June 2017. Advans SA, which is active in 10 countries