LuxFLAG Grants its Microfinance Label to a Microfinance Investment Vehicle (MIV)...

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Oct 2009
Paris, France, October, 05 2009 - The Luxembourg Fund Labeling Agency (LuxFLAG), created in July 2006, has for the first time granted its Label to a Microfinance Investment Vehicle (MIV) taking the form of a “Société d’Investissement en Capital à Risque” (SICAR): Advans S.A. SICAR.

Advans SA is a Venture Capital Investment Company headquartered in Luxembourg launched in December 2005. With a share capital of EUR 17.1 million, Advans’ mission is to build a network of microfinance institutions 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.

Advans SA's strategy is to create new microfinance institutions in which it invests as lead shareholder, alone or with other shareholders with similar interests and vision, guided by two bottom lines: return on investment and social development. As of today, Advans SA has invested in five MFIs : Amret (Cambodia), Advans Cameroun, Advans Ghana, Advans Banque Congo and Advans Côte d’Ivoire.

Advans is managed by Horus Development Finance, its initial shareholder alongside several development finance institutions: Agence Française de Développement (AFD), CDC Group, European Investment Bank (EIB), the Netherlands Development Finance Company (FMO), International Finance Company (IFC), and KfW Development Bank. For more information, please visit www.advansgroup.com.

Source : Advansgroup
 

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