Finnfund and the University of Helsinki to invest together into microfinancing in Africa and Asia

Posted date: 21 Oct 2021

The investment will be used to award loans to small businesses. The goal is to promote responsible business practices and gender equality within financing.

Finnfund, a Finnish development financier and impact investor, announce today a EUR 10 million debt facility commitment to the Advans Group, one of the leading international microfinance group serving over one million clients in nine countries: Cambodia, Cameroon, Ghana, Democratic Republic of Congo, Cote d’Ivoire, Pakistan, Nigeria, Tunisia, and Myanmar. The University of Helsinki participates in this investment with Finnfund.

Through this funding, Finnfund and the University of Helsinki aim to generate funding for micro and small businesses and promote responsible business practices and gender equality within microfinancing.

Established in 2005, the Advans Group together with its subsidiaries has had a pioneering role in launching responsible and client-friendly microfinance services in many of its underserved markets. The loans are mainly targeted at small businesses with growth opportunities helping them create and sustain jobs and improve profitability. In 2020, their average loan size was 2200 Euros, and 60% of their borrower clients were women.

Reference Link:https://www.helsinki.fi/en/news/university/finnfund-and-university-helsinki-invest-together-microfinancing-africa-and-asia

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GSP Admin