Advans SA publishes its 2010/2011 Annual Report
Advans SA Release
Advans SA is pleased to announce the publication of its Annual Report for the year 2010/2011. Over the year, the Advans group has reinforced its operations by increasing its outstanding loan portfolio to EUR 65 million (against EUR 42 million for the previous year) and total deposits to EUR 22 million (against EUR 4 million). The group also strengthened its initial investment in Côte d’Ivoire by carrying out a capital increase and welcoming new co-shareholders in October 2010. Finally, its first institution in East Africa, based in Tanzania, launched its operations in February 2011. Click here to download the 2010/2011 Annual Report.
About Advans SA:
Advans SA is headquartered in Luxembourg and was created in August 2005. Its committed capital is EUR 43.6 million. Its mission is to build a network of microfinance institutions (MFIs) in developing and emerging countries to cater to the financial needs of micro, small, and medium sized enterprises, which have limited or no access to formal banking services. The Advans network currently spans six countries: Cambodia, Cameroon, Ghana, the Democratic Republic of Congo, Tanzania and Côte d’Ivoire. As of the end of November 2011, Advans MFIs serve 300,000 loan clients from 81 points of sale, and have an outstanding loan portfolio of circa EUR 85 million. Advans SA is managed by Horus Development Finance, its sponsor and shareholder, along with the European Investment Bank (EIB), the German Bank of Development (KfW), the Netherlands Development Finance Company (FMO), UK’s Development Finance Institution (CDC Group plc), an investment fund dedicated to equity participations in Sub-Saharan Africa (FISEA – Group AFD) and the International Finance Corporation (IFC – Group World Bank).
For more information, please visit www.advansgroup.com.
Amanda Hannan, Head of Investment Unit
Claude Falgon, Advans SA SICAR Manager
T: +33 1 53 32 75 75
Link to the 2010/2011 Annual Report: http://www.advansgroup.com/fileadmin/Advans/Annual_reports/Rapport_SA_2011_web.pdf