MICROCAPITAL BRIEF: BlueOrchard Loans $1.1m in Local Currency to Cameroonian Microfinance Institution (MFI) Advans Cameroun

BlueOrchard Finance SA, a subsidiary of Switzerland-based BlueOrchard Microfinance Investment Managers, has announced that it will provide a local-currency loan of XAF 500 million (USD 1.1 million) to Advans Cameroun, a microfinance institution (MFI) operating in Cameroon. The loan is being disbursed by BlueOrchard's Dexia Micro-Credit Fund (DMCF) and will be used to increase lending to micro-, small and medium-sized enterprises (MSMEs) across the country. Advans Cameroun, a member of the Advans SA SICAR group of financial institutions, offers credit and savings services to MSMEs. As of December 31, 2010, Advans Cameroun reports to the US-based nonprofit Microfinance Information Exchange (MIX) a gross loan portfolio of USD 12.5 million, total deposits of USD 6.6 million and 7,177 active borrowers. As of March 31, 2010, Advans SA SICAR reported total assets of USD 23.4 million and.... Continue reading here. Contact MicroCapital to receive a complete sample issue of the MicroCapital Monitor, the monthly microfinance newspaper.