Supporting financial inclusion in Côte d'Ivoire and strengthening the microfinance institution Advans for the long term.

Côte d'Ivoire
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advans CI, bâtiments
For the second time, FISEA is participating in the capital increase of Advans Côte d'Ivoire, the country’s 2nd largest microfinance institution. This renewed support will allow the MFI to develop its activities, in particular outside Abidjan, in regions where the poorest communities and MSMEs are still too often excluded from banking services.
Client presentation

Advans Côte d'Ivoire is a Sub-Saharan African microfinance institution (MFI) with a mission to provide financial services to microenterprises, small and medium-sized enterprises and other economic agents, which are not sufficiently served by traditional banking players. 
Since the start of its operations in March 2012, Advans CI has managed to deploy a wide range of financial services that are not confined to credit and savings products, but also include money transfer services, a withdrawal card, microinsurance products and mobile banking services. 
At the end of 2017, the MFI had 14,100 active borrowers and is today the 2nd largest microfinance institution in Côte d'Ivoire with a portfolio of EUR 91m.

The institution also focuses on financial inclusion for cocoa producers, a segment often perceived as being too risky by the other financial institutions. In 2017, Advans CI financed input loans for over 200 cooperatives. 12,000 producers have had access to an Advans bank account via mobile banking. 

Project description

FISEA is a longstanding partner of Advans Côte d'Ivoire, as it became a shareholder when it was set up in 2010, alongside Advans SA (holding company), FMO and SGBCI, which were joined by IFC in 2012.
This is the 2nd capital increase in which the historical shareholders of Advans CI are participating. It will support the growth in the MFI’s activity, in particular outside Abidjan, in regions of the country where poor communities and microenterprises, small and medium-sized enterprises (MSMEs) are still largely underserved by banks and microfinance institutions. 

Project impact

The project to finance Advans CI will support local economic activity and financial inclusion by developing loan services for Ivorian rural and urban MSMEs, which are currently insufficiently served in the country.
Over the next 5 years, Advans CI should be able to provide loan services to some 167,800 entrepreneurs. By 2022, the institution’s capital increase operation should allow over 160 MSMEs to benefit from Advans CI loans for a total amount of some EUR 1.6m. 
The project will also support direct and indirect local employment. Advans CI is planning to recruit 215 people by 2021.

Date of signature of the project
Côte d'Ivoire
Financing tool
405 514 Euros
Amount of funding
FCFA 266m capital increase (i.e. EUR 405,514)
Financing details
Projet Advans ci

FISEA participated in the capital increase of Advans Côte d’Ivoire in 2015

This operation had supported the microfinance institution’s development, particularly outside of Abidjan, in regions where poor populations and SMEs are still largely underserved by banks and microfinance institutions. The technical assistance project helped Advans CI improve and develop on a large scale its “cocoa loan” for cocoa smallholders in Côte d’Ivoire.