Microfinance Focus, August 12, 2011: Addressing the severe lack of access to affordable financing in the region, International Finance Corporation (IFC) may invest $1.2 million in equity and $2.6 million in local currency debt to help establish La Fayette Nigeria Microfinance Bank Limited, a greenfield microfinance institution to be located in Oyo State, Nigeria.

Key shareholders in La Fayette Nigeria are expected to be: Advans S.A. 50.1% and IFC 17.5%, with an additional number of potential international investors.  Advans S.A. is a Venture Capital Investment Company and an IFC strategic partner.

Along with equity and debt investment, IFC will be providing technical assistance funds to La Fayette Nigeria Microfinance Bank which seeks to establish 11 branches over the first 5 years of operations.