Advans Cameroon announces 3.35 billion FCFA increase

Finance

Advans Cameroon announces 3.35 billion FCFA increase

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- Wednesday, 21 January 2015 02:51

(Business in Cameroon) - In late 2014, Advans Cameroon moved to increase its capital, bringing it from 2.5 billion FCFA in 3.35 billion FCFA, in a legal announce.

The operation involved the issuance of 85,000 new shares with a nominal value of 10,000 FCFA fully paid-up and subscribed. The information does not specify if the capital increase attracted new shareholders.

Advans Cameroon is a micro-financial institution with branches in 17 districts across the country that opened in 2007. In late 2014, it had 40,000 customers with an overall active credit of 17.6 billion FCFA (27.3 million euros) and deposits totalling 12 billion FCFA (17.4 million euros).

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