Advans Ghana urged to revamp Suame Magazine

The Asantehene, Otumfuo Osei Tutu II, has urged Advans Ghana, a savings and loans company, to design a specific product to assist and re-invigorate the Suame Magazine into a giant industrial hub.

He said the Suame Light Industrial Area could be transformed into one of the most sought-after mechanic and car manufacturing hubs if Advans could make funds available, with moderate terms of repayment.

In a message sent through the Amakomhene, Nana Adu Mensah Asare, at the inauguration of the company’s third branch in the Ashanti Region, the Asantehene urged Advans officials to engage the leadership of Suame Magazine to begin the process of providing loans for them.

The Tafo branch brings the company’s branches to 14 nation-wide with an aggressive plan of covering at least eight regions by 2020.

Branches of Advans

Currently, Advans has branches in the Greater Accra, Volta, Eastern and the Ashanti region, with 13,000 clients.

Beyond Ghana, Advans, which was founded in France in 2006, also operates in Nigeria, Cote d’Ivoire, Cameroon, DR Congo, Tanzania, Tunisia and Cambodia.

Its key shareholders are the International Finance Corporation which is an affiliate of the World Bank, Societe Generale and the German Development Bank.

Otumfuo Osei Tutu urged the bank to give priority to the indigenes of Tafo and the region as a whole to give the youth seed capital to start businesses and help reduce the unemployment rate in the country.

He, however, cautioned potential clients to ensure that they honoured their repayment schedules so that others could also benefit from the facility.

The Global CEO of Advans, Mr Brieuc Cardon, said the vision of the company was to help alleviate poverty and activate economic development.

He said the company planned to empower low and middle income earners as well enhance the agriculture sector of the countries where it operated.