Advans Ghana Savings and Loans Limited, a Non-Bank Financial Institution, has received 400,000 Euros from Agence Francaise de Development (AFD) towards developing its operations.
At the loan signing ceremony at its head office in Accra New town on Friday 26th April, Managing Director of Advans Ghana, Mr. Cedric Henot told Myjoyonline 300,000 of the grant will be used to finance technical assistance to build Advans’ upscaling strategy towards small and medium-scale enterprises within 3 years.
Part of that 300,000 Euros will also be used improve communication and development of new processes and operational procedures of Advans Ghana.
Mr. Henot explained that the remaining 100,000 Euros will be used to secure the services of Business Development Services (DBS) to training SME clients and other key stakeholders. In all 250 small enterprises will be trained to effectively run their own businesses.
In an address read on his behalf, French Ambassador to Ghana, H.E. Frederic Clavier revealed that since 2004, the French government has financed more than 60 programmes through the AFD facility.
He indicated that AFD’s financing does not only support the government or pubic and private companies with big projects, but also targets small and medium scale enterprises (SME’s) making big impacts in the sector.
AFD loan facility is the main implementing agency for France’s official development assistance to developing countries and overseas territories.
AFD loans finance projects, programs and studies through grants, loans, guarantee funds and debt reduction contracts, and provides capacity development support to its partners in developing countries.
Currently, Advans Ghana, a member of the Advans Group, has 11 points of sale, made up of 8 branches and three 3 agencies.
In Accra, Advans can be located at Newtown, Okaishie, Agbogbloshie, Maamobi, Kaneshie, Teshie and Darkuman. They are also in Ashaiman, Koforidua, Kumasi and Ho.