According to FMO website, through this investment FMO wants to strengthen its shareholding in the Advans Group and further support the company in the markets it is active in. FMO supports the Advans Group in order to support financial institutions, which contribute to strengthening local businesses, creating and sustaining jobs and improving clients’ living standards in order to foster private sector–led economic and social development in Africa, the Middle–East and Asia.
The Advans Group is a leading international microfinance group, currently serving clients in nine countries: Cambodia, Cameroon, Ghana, Democratic Republic of Congo, Cote d'Ivoire, Pakistan, Nigeria, Tunisia and Myanmar.
Advans Group is a venture capital investment arm of Horus Development Finance. The firm invests in the form of equity, loans, and guarantees.
No contact information provided at the time of disclosure.
ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism