Advans Cameroun
Francophone Africa
CHALLENGE
Advans Cameroun (a subsidiary of the Advans network) is a microfinance company that provides financial services, in the form of loans of up to CFAF 15 million, to individuals and small and medium-sized enterprises in the formal and informal sectors.
As an international group, the Advans network has subsidiaries throughout the world. Advans identified a need and a market for professional microfinance services in Cameroon, but was confronted with the need in the market for management positions.
SOLUTION
Advans had already worked with AMSCO in other parts of Africa and approached AMSCO to help set up operations in Cameroon in 2007. AMSCO seconded technical experts, namely the CEO, the CFO and other senior managers to occupy key positions at Advans Cameroun.
IMPACTS
- Currently, Advans Cameroun is present in 8 cities across the country and has 500 employees.
- Over a period of three years, all AMSCO international experts seconded to Advans Cameroun trained local staff and transferred the knowledge required for them to resume their key management functions.
- The company uses the latest banking systems and, a few years ago, launched mobile banking solutions for its customers.
- The size of Advans' credit portfolio is in excess of CFA 17 billion for the financing of micro, small and medium enterprises in Cameroon. This is impressive and highlights the impact Advans has had in Cameroon, where micro and small businesses have always struggled to access financing from traditional financial institutions.
- After only 4 years of operation, the company is profitable. In 2016, Advans Cameroun generated a turnover of 5.7 billion CFA francs and made a profit of 7 million CFA francs. This also resulted in corporate taxes estimated at CFAF 30 million which were paid to the Cameroonian government.
