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Clients, Innovation & Expansion

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Clients, Innovation & Expansion ANNUAL REPORT 2016 Clients, Innovation & Expansion Growing together Vision To build a model group of financial institutions which The Advans contribute to strengthening local businesses, creating and sustaining jobs and improving clients’ living standards, Group in brief in order to foster private sector-led economic and social Table of contents The Advans Group is active in ten countries in development in Africa, the Middle East and Asia. Africa and Asia: Cambodia, Cameroon, Côte Mission d’Ivoire, Democratic Republic of Congo, Ghana, 1. ADVANS OVERVIEW Myanmar, Nigeria, Pakistan, Tanzania and Tunisia. Respond to the need for financial services of Micro, Small and Medium-sized Enterprises (MSMEs) and other populations who have ill-adapted, limited or no access Letter from the Chairman of the Board of Directors ................................................... 04 to formal financial services through providing tailored financial services in a sustainable and responsible manner. Board of Directors and Committees ............................................................................ 06 Letter from the CEO ..................................................................................................... 07 * Key figures 2016 Executive Committee ................................................................................................... 09 Our shareholders ......................................................................................................... 10 2. ADVANS TODAY 744,989 6,215 € 352 million € 690 million CLIENTS TOTAL STAFF TOTAL DEPOSITS OUTSTANDING LOAN PORTFOLIO Group figures ............................................................................................................... 12 *AS AT 31 DECEMBER 2016 Key events ................................................................................................................... 16 What our clients and staff say ..................................................................................... 18 ADVANS PAKISTAN START OF OPERATIONS JANUARY 2013 3. CLIENT CENTRICITY ADVANS TUNISIE POINTS OF SALE 7 START OF OPERATIONS MARCH 2015 ADVANS MYANMAR Putting clients at the centre ........................................................................................ 20 POINTS OF SALE 5 START OF OPERATIONS 2017 Towards a harmonised client & brand strategy ........................................................... 22 ADVANS CÔTE D’IVOIRE 4. INNOVATION AND EXPANSION START OF OPERATIONS ADVANS NIGERIA MARCH 2012 POINTS OF SALE 11 START OF OPERATIONS FEBRUARY 2013 Value chain financing: Advans & cocoa ....................................................................... 24 POINTS OF SALE 8 Diversifying our loan products .................................................................................... 28 ADVANS CAMEROUN Advans development in South East Asia ..................................................................... 31 START OF OPERATIONS MAY 2007 POINTS OF SALE 15 AMRET Introducing ADCs ......................................................................................................... 32 LETSHEGO BANK (T) START OF OPERATIONS START OF OPERATIONS FEBRUARY 2011 JULY 1991 POINTS OF SALE 7 POINTS OF SALE 149 5. ORGANISATION ADVANS GHANA The Advans Training Centre ......................................................................................... 34 START OF OPERATIONS OCTOBER 2008 POINTS OF SALE 13 Developing a strong risk management function ......................................................... 36 ADVANS BANQUE CONGO 6. FINANCIAL STATEMENTS ............................................................................................. START OF OPERATIONS JULY 2009 38 POINTS OF SALE 9 Advans 2016 Annual Report • 2 Advans 2016 Annual Report • 3 1. ADVANS OVERVIEW Letter from the Chairman of the Board of Directors A strengthened organisation for future growth 2016 marked a significant milestone for the Advans Group with the Going forward Advans is looking to diversify the profiles of its Board members to add extra value at supervisory level, by completion of the buyout of Advans International, the group’s technical aiming to recruit professionals with extensive experience in the banking sector. The implementation of the Employee Share partner, in a transaction designed to ensure the long-term value creation Ownership Programme (ESOP) in 2017 will also reinforce the alignment of staff and investor interests. Staff will have the of the group. In capitalising on the experience and know-how developed possibility to participate in the shareholding of Advans SA, through the newly-created Advans Invest, and to benefit from over the last ten years and throughout the network, Advans International incentive schemes based on the performance of the group as a whole. 2017 will also see the transfer of responsibilities at top will ensure that the affiliates of the Advans Group continue to extend their management level, with the retirement of the Group CEO and founder, Claude Falgon, in June and the handover to Steven footprints, innovate and employ the best practices and methods in the Duchatelle, currently Deputy CEO. The Board, on which Claude will continue to sit as a member, will accompany and support sector. Following this key milestone the Board has focused on adapting the the new management team in this transition. This handover will mark the end of the post-integration process of Advans group’s governance structure to the post-buyout requirements and ensuring International; we believe that, moving ahead with a reinforced structure and governance practices, the Advans Group has all a sound transition process. The Board has done this by implementing it needs to become a model international group for financial inclusion. shareholder corporate governance recommendations. This has included a On behalf of the Board of Directors I would like to thank the Advans management team for their hard work on the buyout board self evaluation, followed by a board retreat for all members, aimed process, their handling of network challenges, and their focus on developing new products and services for clients and on at further improving board effectiveness and cohesion, as well as the building the capacity of staff. I would also like to thank all group staff who work every day to put Advans’ mission into practice, strengthening of board composition and structure, and the shaping of the as well as our shareholders for their ongoing support. Collectively, we can work to ensure that Advans services boost clients’ top management team. This process started immediately after the buyout business activities and improve their living conditions, with long-term impact in our markets. was completed in mid 2016 and good progress was made over the year. As Advans matures into a well-established international microfinance network, it is refining its strategy and practices to ensure that it remains a responsible and relevant player, offering financial Matthias Adler services in line with the changing needs of clients. In several of our countries of operation, Advans has faced or is facing a Chairman of the Board number of challenges in terms of regulatory requirements and macroeconomic difficulties. This was especially the case in two of Directors of our countries in 2016, with the depreciation of the naira having a negative effect on both Advans’ and clients’ activities in Nigeria, and political difficulties affecting operations and capacity to raise debt in DRC. Despite these kinds of challenges, our network has continued to grow organically, with clients still in need of accessible financial services and affiliates striving to increase their outreach and productivity. Advans has also built up strong risk and liquidity management procedures and affiliates have therefore been able to weather external shocks in a robust manner and remain focused on their clients. As Advans matures into a well-established international microfinance network, it is refining its strategy and practices to ensure that it remains a responsible and relevant player, offering financial services in line with the changing needs of clients. As a group with over ten years of experience, diverse and skilled human resources, a large client base and a growing footprint in both Africa and Asia, Advans is building up both financial and social value. Advans SA now has over EUR 120m in assets and the group has over EUR 690m in loans, with a PAR 30 of just 1.47% and over half of borrowers on their third cycle or more. 57% of the group’s 745,000 clients are in rural areas, with 30% of them aged 18-30 and 69% of borrowers and 54% of depositors being women. So as to establish itself as an all-in-one financial partner, Advans offers clients complete packages of loans, deposits and other financial services to fit their diverse professional and personal needs. Advans is especially focused on SME financing. SMEs play a key role in the development of our target economies, and have a high potential to create wealth and employment, in line with our mission and social goals. Personal finance products to help clients acquire key assets for their family, especially education and housing, and protect themselves against external shocks through access to emergency loans, are currently being designed, piloted and implemented in the network. Advans affiliates are also looking to expand and adapt their services to underserved rural populations, especially farmers in or outside of value chains. In order to provide services
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