PROJECT COMPLETION REPORT: Advans La Fayette MicroFinance Bank @ New Gbagi Branch

Project Title: Development of Advans Lafayette MicroFinance Bank, New Gbagi Branch

Project Description: Building & Civil Engineering Works, Mechanical Engineering works, Electrical Engineering works

Location: Oyo State, Nigeria

Year: This project was commissioned in 2014

Project Completion: This project was completed in March 2015

Client Website: www.advansgroup.com

About Advans La Fayette MicroFinance Bank

Advans Nigeria makes loans available to small businesses in Nigeria and therefore encourages the growth of the MSME sector

History and vision: Created in June 2012 and formally incorporated as La Fayette Microfinance Bank Ltd, Advans Nigeria is the seventh greenfield of the Advans Network. Advans Nigeria’s objective is to target MSMEs in urban areas of Nigeria, where market studies have shown that only one in ten entrepreneurs has access to credit.

Network: Advans La Fayette Microfinance Bank opened its first branch in Ibadan, the country’s third largest city, at the end of January 2013. A second branch opened in May 2013 and two further branches in early 2014. In the coming years, Advans La Fayette Microfinance Bank plans to continue its expansion to cover other regions of Oyo State, home to about 5.5 million inhabitants.

Services: As a registered microfinance bank, Advans La Fayette Microfinance Bank offers a full spectrum of financial services for MSMEs, including loans ranging from NGN 30,000 (about EUR 140) to NGN 20,000,000 (about EUR 93,600). The MFB also offers current and savings accounts for both individuals and MSMEs.

PROJECT COMPLETION REPORT

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