Posted on October 10, 2008 - by lincolnw

Advans SA of Luxembourg Opens Microfinance Insitution in Ghana

PARIS, October 9 – Advans SA, the international venture capital investment company specialised in microfinance, is pleased to announce the launch of its second microfinance institution: Advans Ghana, which opened in New Town Road, Accra, on 9 October 2008. Over the next three years, Advans SA seeks to develop a strong international network of around ten microfinance institutions in Africa, Asia and the Middle-East.

Advans Ghana is a microfinance institution licensed as a Savings and Loan Company, which was incorporated in November 2007 with Advans SA as majority shareholder and KfW, IFC and SG-SSB (the Ghanaian subsidiary of the Société Générale Group) as co-investors. Advans Ghana’s initial share capital is GHS 2.649 million (circa EUR 1.65 million)…{click here to read the rest of this article}