# Advans

Advans is an international group of microfinance institutions. Its holding company, Advans SA SICAR, is based in Luxembourg and was founded in 2005. The company primarily operates in Africa.
The group’s objective is to promote financial inclusion and support the growth of small entrepreneurs and farmers, particularly by financing climate-resilient initiatives.
Advans SA is supervised by the Luxembourg Commission for the Supervision of the Financial Sector (CSSF), ensuring compliance with financial and governance standards.

## History

Before the creation of Advans, Horus Development Finance, founded in 1990, provided advisory and technical assistance services to financial institutions and microfinance programs. In 2005, Horus established Advans SA SICAR with the ambition of investing in a global network of microfinance institutions. The goal was to build strong and profitable financial institutions serving micro, small, and medium-sized enterprises (MSMEs) in emerging markets where access to banking services was limited.
Advans gradually expanded its operations in Africa and Asia:
* 2007: Advans Cameroon
* 2008: Advans Ghana
* 2009: Advans Congo
* 2012: Advans Côte d’Ivoire
* 2013: Advans Nigeria
* 2015: Advans Tunisia
In 2011, Advans launched Advans Bank Tanzania, before selling a 75% stake in November 2015 to Letshego Holdings Limited, which invested 15.5 billion Tanzanian shillings (approximately $7 million USD) in new shares to strengthen financial inclusion in the country.
Beyond Africa, Advans previously operated in Cambodia (2006-2024), Pakistan (2012-2024), and Myanmar (2017-2025) before divesting to refocus on Africa. The sale of Amret in Cambodia was completed with Bank SinoPac for $550 million. Advans Pakistan was acquired by MNT-Halan in 2024, and the divestment of Advans Myanmar was finalized in early 2025.
In March 2018, Advans SA introduced a new logo.

## Strategy and Business Model

Advans selects its target markets based on two main criteria:
* The need for financial services, particularly for micro and small businesses.
* A favorable regulatory framework, allowing for the sustainable development of microfinance institutions.
Advans focuses on long-term investments in its subsidiaries and aims to build profitable and self-sustaining institutions, rather than acting solely as a lender. This approach not only strengthens financial inclusion but also promotes job creation and income growth in the countries where the group operates.

## Digital Initiatives and Future Projects

Advans is investing heavily in cutting-edge technologies to drive its growth and enhance service delivery, making financial services more accessible to a broader population.
Mobile applications: The My Advans GH App in Ghana and Adspire in Nigeria allow customers to access their accounts, make transactions, and manage their repayments independently. In Ghana, loans available to entrepreneurs range from 5,000 to 200,000 GHS, with repayment terms of up to 36 months.

## Agricultural Sector Support

Advans has developed tailored financing solutions for farmers, particularly in Ivory Coast, where agriculture—especially the cocoa industry—is a key economic sector.

### Structured Financing for Cocoa Farmers

In 2012, Advans Côte d'Ivoire launched a credit program for cocoa farmers, in partnership with the World Cocoa Foundation and other funding organizations. This initiative uses a value chain financing model, involving cooperatives and cocoa buyers to secure farmers' financial transactions.

### Results and impact

Between 2012 and 2015, Advans Côte d'Ivoire financed 18,000 farmers from 140 cooperatives, providing a total of €3.2 million in input loans. This program led to a 50% increase in yields, generating an additional $637 per farmer on average.

### Digitization of Agricultural Savings

In 2016, Advans Côte d'Ivoire expanded its offering by launching a mobile savings program in partnership with MTN. This initiative allows farmers to secure their savings during the harvest season and better plan for the next planting cycle. It also aims to reduce cash transactions and associated risks through digital payments.

### Food Security Partnerships

In partnership with Proparco, Advans Côte d'Ivoire launched a pilot program to finance maize producers’ cooperatives for the purchase of quality inputs. With a €230,000 funding envelope, this initiative supports 1,500 maize farmers in Côte d’Ivoire, helping to combat food insecurity by improving access to finance.

## Shareholding Structure

Since its creation, Advans has been supported by several development finance institutions (DFIs), including:
* International Finance Corporation (IFC)
* European Investment Bank (EIB)
* Dutch Development Finance Company (FMO)
* FISEA (AFD Group, France)
* British International Investment (BII, UK)
* KfW (German Development Bank)
In addition to DFI support, some commercial banks have invested in Advans' early subsidiaries. In 2013, the Société Générale group, through five of its subsidiaries, participated as a founding shareholder in the creation of several microfinance institutions in Sub-Saharan Africa, including Advans Ghana, Advans Cameroon, and Advans Côte d'Ivoire.

## Impact and Recognition

Advans measures its impact through biannual studies conducted by 60 Decibels, an international research institute specializing in microfinance.
In 2014, Advans surpassed 500,000 clients, marking a significant milestone in its financial and social impact.
Its subsidiaries have also received several awards:
* Advans Nigeria: Microfinance Bank Brand of the Year 2023 (BAFI Awards) and Most Innovative & Most Client-Centric Microfinance Bank (Marketing Edge Awards).
* Advans Ghana: Savings & Loans Company of the Year 2023 (Ghana Business Awards).
* Advans Côte d’Ivoire: Best Microfinance Institution for Agricultural and Women’s Loans 2023 (Label des Consommateurs Africains).

## Competition

Advans operates in a competitive market alongside other international microfinance institutions, such as:
* Baobab: Present in seven African countries, Baobab disbursed 38.1 billion CFA francs in loans in the first quarter of 2023 in Côte d'Ivoire, representing 24.1% of the total amounts disbursed by all decentralized financial systems in the country.
* AccessHolding: Founded in 2006 in Germany, Access Microfinance Holding AG is an investment and management company specializing in microfinance institutions.
* Cofina: Operating in several African countries, Cofina specializes in mesofinance, facilitating access to credit for SMEs. In 2024, Cofina Senegal granted 440 million CFA francs in loans to 57 agricultural SMEs with support from the EIB and the EU.
* FINCA Impact Finance: A global network of microfinance institutions and community banks providing financial services to low-income populations. Present in multiple countries, FINCA aims to promote financial inclusion for entrepreneurs and small businesses.
* Opportunity International: In 2023, Opportunity International and its partners served 20 million clients, helped finance 7,000 schools, reaching 1.9 million children, and distributed over $1.85 billion in capital across 31 countries.