Advans Cameroon increases capital to FCFA 3.35b

Advans Cameroon proceeded late 2014 with an increase in capital, from 2.5 billion Cfa francs to 3.35 billion Cfa francs.

The operation took place through the issuance of 85,000 new shares with a par value of 10,000 Cfa Francs, fully paid-up and subscribed. There was no modification of the statutes and the new shares have been subscribed by existing shareholder, notably the Cameroon subsidiary of the Banking Group Société Générale, Financial Corporation International (SFI) and the Group Advans itself.

Advans Cameroon is a Microfinance institution with a presence in 17 localities in the country, and whose activities started in 2007. At the end of 2014, it had more than 40,000 customers with an outstanding global credit of about 17.6 billion francs Cfa (EUR 27.3 million) and an outstanding deposits of approximately 12 billion Cfa francs (17.4 million euros).

Recently, this microfinance establishment specializing in the financing of very small enterprises (TPE), launched its agricultural credit project, which aims to offer financial services in rural areas in 10 of its agencies.