LuxFLAG grants its microfinance label to Advans

Microfinance Focus, Oct. 7, 2009: The Luxembourg Fund Labeling Agency (LuxFLAG) has 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. Set up in December 2005 with a share capital of 17.1 million euros ($25.15 million), it aims to build a network of microfinance institutions in developing and emerging countries to cater the financial needs of micro, small, and medium sized enterprises, which have limited or no access to formal banking services, said a statement.
Advans SA invests in new microfinance institutions as lead shareholder in expectation of return on investment and social development. It has invested in five MFIs so far — Amret (Cambodia), Advans Cameroun, Advans Ghana, Advans Banque Congo and Advans Côte d’Ivoire.

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