FZ funding participation ADVANS S.A. SICAR

active

Through this Financial Cooperation project, KfW, together with the other development banks FMO, CDC, AFD/Proparco and IFC, is participating in the microfinance holding company ADVANS SA, Luxembourg, which has several subsidiaries in sub-Saharan Africa and Asia. Micro, small and medium-sized enterprises (MSMEs) rarely receive loans from commercial banks. Private households rarely have access to financial services (e.g. loans and savings products). The sector approach with a focus on microfinance in sub-Saharan Africa aims to improve the sustainable supply of needs-based financial services and access to these. The target group of the measures is primarily MSMEs and the population of sub-Saharan Africa and Asia, who have previously had neither access to the financial system nor knowledge of economic relationships. In recent years, the commitment of Financial Cooperation has been designed in such a way that the individual measures interlock at several levels. This project enables rural and urban MSMEs and private households to have sustainable access to financial products and to make the necessary investments in order to be able to operate economically. Since MSMEs often operate in a labor-intensive manner, positive effects can be expected for the households of the entrepreneurs themselves, but also for their employees and their families. In addition, access to needs-based financial products increases the scope for action of the target group in order to be able to respond to exceptional pressures. The project thus contributes to the global goals for sustainable development of the 2030 Agenda, such as No. 1 No poverty, No. 5 Gender equality, No. 8 Decent work and economic growth, No. 10 Reduced inequalities and No. 17 Partnerships to achieve the goals.