Advans is an investment holding company set up in 2005 at the initiative of the consulting firm Horus Development Finance and a group of development finance institutions. Its mission is to build a network of MFIs in Africa and Asia, while maintaining a strong focus on Africa (currently 6 out of 9 subsidiaries). On a consolidated basis, at the end of June 2019, Advans Group had a loan portfolio of EUR 933m, 402,884 borrowers and almost a million clients (borrowers and depositors), with 50% located in rural areas. Advans Group employs 7,125 people.
Recapitalization of Advans Holding, the head of the group, to implement its strategic plan: substantial investments in digital finance, recapitalization of certain subsidiaries experiencing growth. FISEA supports the group and has therefore participated in this capital increase.
Financing for technical assistance in 2020 will strengthen the IT security system of the Advans network during the Covid-19 crisis where the digitalization of activities has greatly and rapidly increased.
This project will contribute to financial inclusion for vulnerable populations in countries where access to financial services remains low (Cambodia, Cameroon, Côte d'Ivoire, DRC, Ghana, Myanmar, Pakistan and Tunisia), as 64% of borrowers in the Advans network are women (meaning the project qualifies for the 2X Challenge project), and as 10,800 additional people or microenterprises are expected to benefit from access to microfinance products or services over the next 5 years as a result of the investment.
The project should also support over 21,000 direct or indirect jobs over the next five years. The Advans network currently has 6,900 employees, 38% are women.
Finally, the investment will have a knock-on effect on the mobilization of capital from other potential investors and on raising debt.
This information is given at the time of signature, without prejudice to any developments in the operation/project