Contact us
01 53 32 75 75
Contact us
01 53 32 75 75
The transaction was officially registered earlier today in Yangon, Myanmar.
Advans established its Myanmar subsidiary nearly 8 years ago and, as the majority shareholder, has played a key role in its growth and resilience, providing technical assistance and strategic guidance. Today, Advans Myanmar operates with a workforce of 195 employees across 13 branches, serving 26,000 clients with a strong focus on rural lending.
Given the challenging economic environment, ensuring the sustainability of Advans Myanmar and securing a stable future for its clients became the primary objective of its shareholders. Advans, along with Norfund and Amret – the two other shareholders- agreed to transfer ownership to a leading local microfinance institution. This transaction enables Advans Myanmar to continue fulfilling its mission of driving financial inclusion in the country.
“This sale is a strategic and responsible decision for Advans Myanmar,” said Steven Duchatelle, CEO of the Advans group. “We have worked hard to maintain operations despite difficult circumstances, but for long-term sustainability, joining forces with a strong local player was necessary. I am confident that this new, strengthened structure will continue to serve Myanmar’s underserved populations, while upholding high standards of client protection.”
Committed to social and environmental responsibility, as well as strong governance, the new structure will uphold a client-centric approach, emphasizing transparent communication, responsible pricing, and excellent customer service.
“We are pleased to have found a committed and responsible MFI to take over our interests in Myanmar. Following the sale of our subsidiaries in Pakistan and Cambodia in 2024, this transaction marks Advans’ exit from Asia, as we concentrate our focus toward growth in Africa.” said Eelko Bronkhorst, Chairman of the Advans Board of Directors.
With 3,300 dedicated staff, a loan portfolio of €360 million, and total deposits nearing €215 million, Advans has built a solid foundation in micro financing in Africa, where it currently operates in 6 countries: Tunisia, Côte d’Ivoire, Cameroon, Ghana, Nigeria, and the Democratic Republic of Congo. This strong position will enable the Group to continue its growth and increase its impact across the continent.
For any inquiries, please contact:
Sophie Jambon
Advans International Marketing & Communications
sjambon@advansgroup.com
+33 (0)1 53 32 75 75