Governance > Shareholders
MicroCred Holding Shareholding Structure as of December 2008
Founding Shareholders
PlaNet Finance
PlaNet Finance is an international non-profit organization, which aims to alleviate poverty worldwide through the development of microfinance.
By providing financial access to the poorest populations, financial intermediaries, among which banks, cooperatives, Non-Governmental Organizations ( NGOs ) and Microfinance Institutions ( MFIs ) have been proving for thirty years that they constitute one of the most effective tool to fight poverty.
PlaNet Finance supports microfinance institutions and contributes to their growth by federating them and providing operational services enabling them to strengthen their resources. PlaNet Finance also works with the public and private sector (banks and financial institutions), governments and international organizations in order to promote microfinance sustainability. Over the past 10 years, PlaNet Finance as a group brings together over 700 staff and operates in more than 70 countries with an international network of 40 offices.
www.planetfinancegroup.org
International Finance Corporation
The International Finance Corporation (IFC) is the private sector arm of the World Bank Group with its headquarters in Washington, D.C. IFC coordinates its activities with the other institutions of the World Bank Group but is legally and financially independent. IFC’s 179 member countries provide its authorized share capital of USD 2.4 billion, collectively determine its policies, and approve investments. The IFC mission is to promote sustainable private sector investment in developing and transition countries, helping to reduce poverty and improve people’s lives. IFC finances private sector investments in the developing world, mobilizes capital in the international financial markets, helps clients improve social and environmental sustainability, and provides technical assistance and advice to governments and businesses.
www.ifc.org
Société Générale (Genefinance)
Société Générale is one of the largest financial services groups in the euro-zone. The Group employs 163,000 people worldwide in three key businesses:
- Retail Banking & Financial Services: Société Générale serves more than 30 million individual customers worldwide.
- Global Investment Management & Services: Société Générale is one of the largest banks in the euro-zone in terms of assets under custody (EUR 2 560 billion, December 2008) and under management (EUR 336 billion, December 2008).
- Corporate & Investment Banking: Société Générale ranks among the leading banks worldwide in euro capital markets, derivatives and structured finance.
Société Générale is included in 3 socially-responsible investment indexes: FTSE4Good, ASPI and Ethibel.
www.socgen.com
AXA Belgium
AXA Belgium is a leader in property and casualty insurance and life insurance. It relies on more than 6,000 professional and independent brokers and services over 3 million customers in two million Belgian households.
Sixty million people and companies all over the world entrust AXA with their financial protection.
Financial protection consists in supporting customers at each stage in their lives, while meeting their needs for products and services in insurance, protection, savings, retirement and wealth management.
www.axa.be
New Shareholders – February 2007
The French Development Agency (AFD)
The Agence Française du Développement (AFD, or French Developement Agency) is a specialised financial institution, at the heart of the French public aid system which supports progress in developing countries and French overseas territories. The actions of the AFD contribute to alleviating poverty, boosting economic growth and protecting the environment by funding projects initiated by local authorities, public sector corporations or private sector and non-governmental organizations. The Agency has made Sub-Saharan Africa a priority, to which 50% of the funding and 70% of subsidies are being oriented. Since 1988, the AFD has been actively involved in microfinance, bringing EUR 300M to around forty institutions in twenty countries.www.afd.fr
European Investment Bank
The European Investment Bank (EIB) was created by the Treaty of Rome. The task of the European Investment Bank, the European Union’s financing institution, is to contribute towards the integration, balanced development and economic and social cohesion of the Member Countries.
To this end, it raises substantial volumes of funds on the markets which it directs under the most favorable terms towards financing capital projects according to the objectives of the Union. Outside the Union the EIB implements the financial components of agreements concluded under European development aid and cooperation policies.
The members of the EIB are the Member States of the European Union, who have all subscribed to the Bank’s capital.
In 2007, the European Investment Bank (EIB) lent a total of EUR 47.8 billion in support of the objectives of the European Union.
www.bei.org
New Shareholder – October 2008
Developing World Markets (DWM)
Developing World Markets is a leading investment bank (through DWM Finance, LLC) and fund manager (through DWM Asset Management, LLC and DWM Funds S. à R. L) for microfinance and other socially positive investable assets in the developing world. To date, Developing World Markets has led or advised on USD 750 million of capital raises for socially positive investments and currently has USD 550 million in socially positive assets under management.
SNS Institutional Microfinance Fund is an affiliate of SNS Asset Management which is serving as the Advisor to the DWM.
SNS Institutional Microfinance Fund (SMIF)
SNS Asset Management is an asset manager for institutional investors and is a part of SNS REAAL, a large financial service provider in the Netherlands. SNS Asset Management N.V. has total assets under management of more than EUR 22.9 billion as of December 2008. SNS Asset Management is a pioneer in the area of responsible institutional asset management of which investing in developing countries through microfinance is an important part.