Advans Côte d’Ivoire is a microfinance institution registered by the Ministry of Economy and Finance of Côte d’Ivoire. Created in July 2009, its share capital amounts today to XAF 3.25 billion, following a capital increase carried out in October 2010. Advans Côte d’Ivoire’s mission is to offer credit and savings products as well as other related financial services to micro, small and medium sized enterprises in Côte d’Ivoire. The institution will open its first branches in Abidjan, the economic capital of the country, and will then extend its network throughout the country. The first branch will open during the first quarter 2012.
Advans Côte d’Ivoire plans to have 12 branches throughout the country after 5 years of operations, at which time it will also reach 16 500 active loan clients, for an outstanding gross loan portfolio of around EUR 28 million. Total voluntary savings deposits are forecasted to reach 44 200 accounts for an outstanding savings portfolio of EUR 12 million. In order to reach these objectives, Advans Côte d’Ivoire will employ around 300 employees by 2017.