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Apis Growth II Limited (Apis) acquire a stake in MicrocredDecember 2015
As of December 28, 2015, AFD and DWM sold all of their 1,308,950 shares to the Apis Group. Following this transaction, Apis holds 22.0% of Microcred's share capital.
Microcred Madagascar launches new credit cardsMarch 2015
Customers of Microcred Bank Madagascar can withdraw money from Automated Teller Machines in Tana and in the provinces which are accessible 7 days a week and 24 hours a day. The Namana card ("friend" in Malagasy) with the new colors of Microcred is the cheapest in the market.
IFU acquires a stake in Microcred during a capital increaseMarch 2015
As of March 17, 2015, IFU (Investment Fund for Developing Countries) acquires a stake in Microcred during a capital increase of 16.6 million euros. Also subscribed by AXA, EIB and DMP groups, this transaction carries their stakes to 30.3% for the AXA group, 12.1% for the EIB and 17.6% for DMP. Participation in the IFU Microcred capital amounted to 11.8%. Following this transaction, the share capital of the Group amounted to 50.7 million euros.
AXA strengthens its participation in a share sale from IFCDecember 2014
As of December 22, 2014, IFC, historical shareholder of Microcred, gives its entire stake of 222,500 shares to the AXA Group. After this transaction, the AXA Group holds 29.7% stake in Microcred.
Microcred Tunisia begins operationsNovember 2014
Microcred Tunisia started its operations on November 3, 2014. An inauguration ceremony was held on Monday, December 15th, 2014 in the presence of the Tunisian authorities, partners and first clients. It is in its first branch, in the heart of the popular neighborhood Ezzahrouni, that Microcred Tunisia has chosen to host its guests.
Launch of Baobab's network of correspondents in Madagascar and SenegalFebruary 2014
A pilot network of Baobab Correspondents was launched in February 2014 by Microcred Bank Madagascar and in August 2014 by Microcred Senegal. Small traders that are Microcred partners provide customers with secure payment services by biometric recognition for more availability for those residing far from branches and urban areas.
Danish Microfinance Partners K/S (DMP) acquire a stake in Microcred during a capital increaseDecember 2013
As of December 19, 2013, the fund Danish Microfinance Partners K/S (DMP) acquired a stake in Microcred during a capital increase of 5.1 million euros. The fund acquired 15% of the Micocred Group. Following this transaction, the share capital of the Group amounted to 34.1 million euros.
An innovation in Madagascar: mobile banking trucksSeptember 2013
The first mobile branch of Microcred Bank Madagascar began operations in September 23, 2013, offering all services. The truck is equipped with solar panels and can be autonomous in any region of the Big Island.
Microcred Mali begins operationsSeptember 2013
On September 12, 2013, the seventh subsidiary of the Group, Microcred Mali, was launched in Bamako. The inauguration ceremony that marked the official launch of its operations took place in 2014. As of December 31, 2014, Microcred Mali had a network of 4 branches in Bamako.
Microcred celebrates its results: over 100 MEUR in outstanding loansJune 2012
In June 2012, Microcred Group is proud to announce that its outstanding loans exceeded 100 million euros. Microcred reached 102 665 376 EUR in outstanding loans since the Group's creation (in 7 years) through its network of 6 institutions and microfinance banks.
Launch of the Microcred credit cardJune 2012
Microcred Ivory Coast launched on June 18, 2012 the first international VISA credit card co-branded BICICI - Microcred.
Microcred Group celebrates its 100,000th customer!September 2011
In September 2011, Microcred Group is proud to announce the 100,000th customer of its international network.
Microcred Sichuan begins operationsJanuary 2011
On January 4, 2011, the sixth subsidiary of the Group, Microcred Sichuan, was launched in Chengdu. This second institution of Microcred China in Sichuan Province was legally registered in November 2010 in Chengdu and disbursed its first loans on January 7, 2011.
Microcred Ivory Coast begins operationsOctober 2010
Founded in 2009, Microcred Ivory Coast opened the doors of its first branch in Abidjan in October 2010. The operations actually started in June 2011, delayed by the electoral crisis and its consequences. Between 2010 and 2013, the institution expanded its activities throughout the district before opening in other provinces in 2014.
Sale of Microcred Mexico and end of activities in Latin AmericaMay 2010
At the request of the shareholders, Microcred refined its strategy in 2009 by deciding to focus its development exclusively on Africa and China. From the end of 2009, the decision was made to focus on these geographic areas while exploring ways to increase the profitability of existing institutions by diversifying the products and services offered to customers.
Microcred Nigeria begins operationsMarch 2010
On March 8, 2010, the fifth subsidiary of the Group, Microcred MFB Nigeria, was launched in Kaduna. Microcred MFB Nigeria was legally registered in May 2009 and disbursed its first loan in March 2010.
Microcred Madagascar obtains the banking licenseJanuary 2010
On January 19, 2010, Microcred Madagascar has joined the ranks of credit institutions as a Territorial Bank.
The ACTIAM funds managed by Developing World Markets (DWM) acquire a stake in Microcred during a capital increaseAugust 2008
August 8, 2008, the ACTIAM Institutional Microﬁnance funds I and II (formerly SNS) acquired a stake in Microcred during a capital increase. Positive Planet, the AXA Group and AFD are also involved in this transaction which amounted to a total of 6.6 million euros. Following this transaction, the share capital of the Group amounted to 18 million euros.
Microcred Nanchong begins operationsDecember 2007
Microcred held a grand ceremony on December 15, 2007, to celebrate the inauguration of Microcred Nanchong. Microcred Nanchong was legally registered on September 3, 2007 and disbursed its first loans in October 2007. This first investment in Asia was a key step for the regional strategy of the Group.
Microcred Senegal begins operationsSeptember 2007
The third subsidiary of the Group, Microcred Senegal, was launched in Dakar on September 17, 2007. In 2008, Microcred Senegal plans to open 3 branches, and by 2012 it plans to create a network of dozen of agencies across the country. It is the first institution to provide a savings product.
The EIB and AFD acquire a stake in Microcred during a capital increaseFebruary 2007
As of February 14, 2007, the EIB (European Investment Bank) and AFD (French Development Agency) acquire a stake in Microcred during a capital increase of 7.7 million euros. The AXA Group, Généfinance and IFC have also subscribed to the capital increase. Following this transaction, the share capital of the Microcred Group amounted to 13.5 million euros.
Microcred Madagascar begins operationsDecember 2006
Microcred Madagascar, the second institution of Microcred Group, has been operational since December 6, 2006. The official inauguration of Microcred Madagascar was held on Wednesday, February 7, at its headquarters located in Ambodivona.
Microcred Mexico begins operationsFebruary 2006
On February 8, 2006, Microcred Mexico and Microcred Group disbursed the first loan on the continent: 10 000 MXN to Mr Luis Alberto Pastellin, seller of vegetables and banana leaves on the market of Veracruz. Microcred chose the Latin American continent to establish its first institution as the overall development of microfinance on the continent has been uneven.
Creation of MicrocredJuly 2005
Microcred was created in 2005 with a registered capital of 4 million euros on PlaNet Finance initiative (which later became the Planet Positive Foundation) with the support of 3 founding shareholders: AXA, Généfinance (Société Générale) and International Finance Corporation (IFC). Jacques Attali, President of PlaNet Finance then became Chairman of Microcred's Supervisory Board, and Arnaud Ventura, CEO of PlaNet Finance, became its CEO.