7 October 2020

CDC and FMO grant Advans strong support to accelerate the recovery of small entrepreneurs

CDC Group, the UK’s development finance institution, is pleased to announce the recent signature of two technical assistance agreements for six month programmes with Advans, a leading microfinance group.

These facilities will enable Advans to support clients throughout the current Covid-19 crisis with both financial and non-financial services.

With CDC and FMO’s assistance Advans will be able to further adapt its financial products to clients’ specific needs during the crisis.

The project will concentrate on improving the efficiency of teams on the ground through the digitalisation of loan monitoring and clients’ follow up. This support enables Advans to adapt its service offer, methodologies and processes in all subsidiaries to better support its clients through the recovery. Utilising digital technology, Advans will also train teams via e-learning to enhance their approach of serving clients responsibly.

Sarah Marchand CDC Director, CDC Plus,  commented:

“In April 2020, CDC created the COVID-19 Business Response Facility to proactively support a faster and safer response of the private sector across Africa and South Asia. CDC is committed to helping businesses better meet the basic needs of underserved populations across our markets. As such, we are pleased to support this project with Advans which aims to better understand the needs of its clients and adapt its offering accordingly.”

Advans is convinced that these two complementary programs, focusing on financial solutions and non-financial support, will be key in creating added value in the way Advans accompanies its clients throughout their customer journey.

 

About CDC

CDC Group is the world’s first impact investor with over 70 years of experience of successfully supporting the sustainable, long-term growth of businesses in Africa and South Asia. CDC is a UK champion of the UN’s Sustainable Development Goals – the global blueprint to achieve a better and more sustainable future for us all. The company has investments in over 1,200 businesses in emerging economies with total net assets of £6.4bn and a portfolio of £4.7bn. CDC invests in companies in Africa and Asia with a focus on fighting climate change, empowering women and creating new jobs and opportunities for millions of people. For more information, please visit

About the Advans Group

Advans’ vision is to build a model group of microfinance institutions (MFIs) in Africa, the Middle–East and Asia. The Advans Group currently spans nine countries: Cambodia, Cameroon, Ghana, the Democratic Republic of Congo, Cote d’Ivoire, Pakistan, Nigeria, Tunisia and Myanmar. As at end December 2019 the group served more than 1,000,000 clients and employed 7,600 staff, with a Gross Loan Portfolio of €1.08 billion and a total of €608 million in savings deposits. Headquartered in Luxembourg with its support services in Paris, the group’s shareholders are EIB, KfW, FMO, CDC Group plc, FISEA (AFD Group), IFC and Advans Invest. For more information, please visit

www.advansgroup.com.

Contacts

Advans SA SICAR

Centre Etoile 11/13 Boulevard de la Foire, L-1528 Luxembourg

contact@advansgroup.com

www.advansgroup

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