Microcred

Microcred is an organization that designs and markets life – time financial products and services 1 , such as credit , savings , insurance and money transfer products . It is aimed primarily at people who do not have access to the traditional financial sector and in particular micro and small entrepreneurs 2 .

Microcred was created by its current President Arnaud Ventura in 2005, with the support of Positive Planet and a group of international shareholders. Its activity is spreading in Africa and China . The Microcred Group now has 2,800 employees worldwide.

The Microcred Group adheres to the Smart Campaign  [ archive ] 3 , a global action uniting microfinance leaders around a common goal: to ensure that customers remain the engine of the industry. All Group institutions adhere to the Client Protection Principles  [ archive ] set by the Smart Campaign.

Today, nearly 50 financial institutions around the world have been awarded the Smart Campaign Principles of Client Protection  [ Archive ] , which is the case of Microcred Nanchong 4 in China.

The Group is a member of France Fintech 5 .

History [ change | change the code ]

In 2005 , the company Microcred was created by Arnaud Ventura , with the support of Positive Planet and its president Jacques Attali 6 and the financial participation of the AXA Group , Société Générale and the International Finance Corporation.

In June 2006 , Microcred started its activities in Mexico City and in December of the same year Microcred set up in Madagascar.

In 2007, the Group completed a first capital increase of € 7.7 million. The European Investment Bank and the Agence Française de Développement enter the capital of Microcred. In September Microcred starts its activities in Senegal. In October Microcred moves to China in Sichuan Province and starts operations in Nanchong City.

In 2008, a second capital increase of € 6.6 million took place. The ACTIAM Institutional Micro fi nance I and II funds of DWM funds and DWM Income fund, whose investments are managed by Developing World Markets  [ archive ]Funds (DWM), become shareholders in Microcred.

In 2010 , Microcred continued its development in Africa and started operations in Nigeria in March. In May the Microcred Group withdraws from Microcred Mexico and ends its activities in Latin America. In October, Microcred starts its activities in Ivory Coast.

In January 2011 , Microcred continued its development in China and set up in Chengdu city still in Sichuan province.

In 2012, a third capital increase of € 5.1 million took place. The Danish Microfinance Partners K / S (DMP) fund, whose investments are managed by Maj Invest Partners, is entering the Microcred Group. In September, Microcred is active in Mali.

In 2014 , the Microcred Group starts its activities in Tunisia .

In June 2015 , Microcred completes a fundraising of € 31.5 million. On this occasion the IFU ( Investment Fund for Developing Countries  [ archive ] ), a Danish financial institution whose vocation is to invest in the developing countries, enters into its capital.

The Group in a nutshell 7[ edit | change the code ]

2012 2013 2014 Sept 2015
customers 178,581 230,276 325,727 401,929
Agencies and points of sale 56 78 99 115
Outstanding loans (€ million) 122.9 162.5 270.1 278.3
Savings outstanding (€ million) 41.1 61.2 85.6 98.2
collaborators 1,374 1,676 2,274 2,640

Activities

Mobile banking

The Microcred Group designs and markets financial products and services that it distributes through physical agencies, sales outlets and correspondent networks.

Correspondents are small business partners of Microcred. Located in peri-urban or rural areas, these partners allow Microcred’s customers to reduce their trips to perform their day-to-day financial operations.

All correspondents are equipped with a biometric recognition terminal and are directly connected to the Microcred banking system, via a gateway deploying the latest web and mobile technologies.

As of September 30, 2015, more than 35,000 customers regularly use the services of nearly 500 correspondents.

In addition, Microcred develops, for the attention of its Portfolio Managers, a suite of web and mobile applications accessible on smartphones, allowing optimized management of credit portfolios.

Institutions

  •  Microcred Madagascar, created in July 2006
  •  Microcred Senegal, created in May 2007
  •  Microcred Nanchong, created in September 2007
  •  Microcred Ivory Coast, created in February 2009
  •  Microcred Nigeria, created in June 2009
  •  Microcred Sichuan, created in November 2010
  •  Microcred Mali, created in September 2013
  •  Microcred Tunisie, created in August 2014

Notes and references

  1. ↑ ” The Microcred Group ”  [ archive ] , on MicroCred (accessed December 16, 2015 )
  2. ↑ editor_TE , ” Silatech and Microcred youth startup loan Irada lancé in Tunisia ”  [ archive ] on Qatar is Booming (accessed 16 December 2015 )
  3. ↑ ” Campaigners – The Smart Campaign – Keeping Customers First in Microfinance ”  [ archive ] , at www.smartcampaign.org (accessed December 16, 2015 )
  4. ↑ ” Smart Certification Video – The Smart Campaign – Keeping Customers First in Microfinance ”  [ archive ] , on smartcampaign.org (accessed December 16, 2015 )
  5. ↑ ” Members ”  [ archive ] , on FRANCE FINTECH (accessed December 16, 2015 )
  6. ↑ CreAno’design – creanodesign.com , ” Presentation – Jacques Attali ”  [ archive ] , on www.attali.com (accessed 16 December 2015 )
  7. ↑ ” Presentations ”  [ archive ] , on MicroCred (accessed December 16, 2015 )

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