Microcred history

Microcred was founded in 2005 as an initiative of Positive Planet (PlaNet Finance), and has developed with the support of many partners to become one of the lead operating banks and finance companies focusing on financial inclusion in Africa and China.

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Apis Growth II Limited (Apis) acquire a stake in Microcred

Apis Growth II Limited (Apis) acquire a stake in Microcred December 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.

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Microcred Madagascar launches new credit cards

March 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.
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IFU acquires a stake in Microcred during a capital increase

IFU acquires a stake in Microcred during a capital increase March 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.

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Baobab+, social performance pilot program in Senegal

January 2015

Baobab+, social performance program, starts a sales program for solar lamps in Senegal.

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AXA strengthens its participation in a share sale from IFC

AXA strengthens its participation in a share sale from IFC December 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.

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Microcred Tunisia begins operations

Microcred Tunisia begins operations November 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.
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Launch of Baobab's network of correspondents in Madagascar and Senegal

Launch of Baobab's network of correspondents in Madagascar and Senegal February 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.
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Danish Microfinance Partners K/S (DMP) acquire a stake in Microcred during a capital increase

Danish Microfinance Partners K/S (DMP) acquire a stake in Microcred during a capital increase December 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.

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An innovation in Madagascar: mobile banking trucks

An innovation in Madagascar: mobile banking trucks September 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.
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Microcred Mali begins operations

Microcred Mali begins operations September 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.
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Microcred celebrates its results: over 100 MEUR in outstanding loans

Microcred celebrates its results: over 100 MEUR in outstanding loans June 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.

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Launch of the Microcred credit card

Launch of the Microcred credit card June 2012

Microcred Ivory Coast launched on June 18, 2012 the first international VISA credit card  co-branded BICICI - Microcred.

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Microcred Group celebrates its 100,000th customer!

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.
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Microcred Sichuan begins operations

Microcred Sichuan begins operations January 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.
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Microcred Ivory Coast begins operations

Microcred Ivory Coast begins operations October 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.
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Sale of Microcred Mexico and end of activities in Latin America

Sale of Microcred Mexico and end of activities in Latin America May 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.

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Microcred Nigeria begins operations

Microcred Nigeria begins operations March 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.
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Microcred Madagascar obtains the banking license

Microcred Madagascar obtains the banking license January 2010

On January 19, 2010, Microcred Madagascar has joined the ranks of credit institutions as a Territorial Bank.

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The ACTIAM funds managed by Developing World Markets (DWM) acquire a stake in Microcred during a capital increase

The ACTIAM funds managed by Developing World Markets (DWM) acquire a stake in Microcred during a capital increase August 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.

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Microcred Nanchong begins operations

Microcred Nanchong begins operations December 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.  

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Microcred Senegal begins operations

Microcred Senegal begins operations September 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.

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The EIB and AFD acquire a stake in Microcred during a capital increase

The EIB and AFD acquire a stake in Microcred during a capital increase February 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.

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Microcred Madagascar begins operations

Microcred Madagascar begins operations December 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.
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Microcred Mexico begins operations

Microcred Mexico begins operations February 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.
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Creation of Microcred

Creation of Microcred July 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.

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