Loïc De Cannière, Founder and Chair of the Board

"We invest in hardworking people who seek to improve their lives."

Enabling climate resilience through financial inclusion

Incofin invests in Financiera FDL, a Nicaraguan microfinance institution, allowing smallholder farmers to build resilience to climate shocks. Smallholder farmers in Nicaragua, like many others in the Global South, sit at the “sharp end” of the climate crisis. They are the most cut off from resources, yet need them most. The stakes can mean the […]

Incofin recognized as an Emeritus Manager in the ImpactAssets 50 2025

Incofin is proud to be selected as an Emeritus Manager in the ImpactAssets 50™ (IA 50) 2025. This recognition celebrates our long-standing commitment to delivering financial returns while driving meaningful social and environmental impact across emerging markets. Today, ImpactAssets released the IA 50 2025, the definitive guide to impact investment fund managers globally. Now in […]

Women’s Day spotlight: How Ngoc Anh Dao is transforming Vietnam’s coffee sector

When Ngoc Anh Dao opened a café in Hanoi in 2012, she had no idea she would later reshape Vietnam’s coffee industry. All she wanted was to serve high-quality coffee. But back then, she knew that the best beans had to be imported from abroad. In 2017, she asked herself a bold question:  ❝ What […]

Incofin invests in Banco Ficohsa Nicaragua to accelerate women’s leadership in business

Incofin is pleased to announce a new investment in Nicaragua as the portfolio manager of the Global Gender-Smart Fund (GGSF). The investment will be made in Banco Ficohsa Nicaragua.  Investment details  With a USD 10 million, 3-year debt facility, Banco Ficohsa Nicaragua will provide accessible loans to small and medium-sized enterprises (SMEs), with a dedicated […]

Incofin invests in Şekerbank to advance gender-smart financing in Türkiye

7 February 2025 – Incofin is pleased to announce an investment in Türkiye as the portfolio manager of the Global Gender-Smart Fund (GGSF), a pioneering initiative dedicated to promoting gender equality through financial support for institutions committed to this mission. This investment is being made in our long-standing partner, Şekerbank T.A.Ş.  Established in 1953, Şekerbank […]

Growing Dignity

 by Ben DeVries This case study was first featured on Impact Europe’s website here.     Qul Fruit Wall empowers farmers at every link of Kashmir’s agricultural value chain – and keeps scaling up thanks to an investment from Incofin’s India Progress Fund.    An apple grows in Kashmir    It took sun, rain and good […]

Our equity investment in Sahyadri Farms, India

  Owned by over 6,000 smallholders, Sahyadri Farms is the largest farmer-owned integrated value chain operator in the Fruits & Vegetables sector in India. This is no small feat considering India comes in only after China as the world´s greatest agricultural output producer.   Sahyadri Farms was founded by these smallholders to increase their profitability by […]

How Kashf Foundation is transforming the lives of women in Pakistan

In Pakistan, where historical cultural practices and customs can result in systemic discrimination against women, there are exemplary microfinance institutions supporting women´s progress across social and economic lines. Since 1996, the Kashf Foundation (KF) has provided financial services to low-income families and microentrepreneurs, supporting their clients—especially women—to become active agents of social and economic change. […]

Bank Arvand wins a 60 Decibels Social Impact Award

We are proud to share that our investee Bank Arvand has won a 60 Decibels Social Impact Award for ranking top 3 out of all 32 Asian financial service providers surveyed in the 2024 Microfinance Index. The MFI Index is the world’s largest financial inclusion index grounded in customer voice, surveying 36,000+ clients of financial […]

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Enabling climate resilience through financial inclusion

Incofin invests in Financiera FDL, a Nicaraguan microfinance institution, allowing smallholder farmers to build resilience to climate shocks. Smallholder farmers in Nicaragua, like many others in the Global South, sit at the “sharp end” of the climate crisis. They are the most cut off from resources, yet need them most. The stakes can mean the […]

Incofin recognized as an Emeritus Manager in the ImpactAssets 50 2025

Incofin is proud to be selected as an Emeritus Manager in the ImpactAssets 50™ (IA 50) 2025. This recognition celebrates our long-standing commitment to delivering financial returns while driving meaningful social and environmental impact across emerging markets. Today, ImpactAssets released the IA 50 2025, the definitive guide to impact investment fund managers globally. Now in […]

Women’s Day spotlight: How Ngoc Anh Dao is transforming Vietnam’s coffee sector

When Ngoc Anh Dao opened a café in Hanoi in 2012, she had no idea she would later reshape Vietnam’s coffee industry. All she wanted was to serve high-quality coffee. But back then, she knew that the best beans had to be imported from abroad. In 2017, she asked herself a bold question:  ❝ What […]

Incofin invests in Banco Ficohsa Nicaragua to accelerate women’s leadership in business

Incofin is pleased to announce a new investment in Nicaragua as the portfolio manager of the Global Gender-Smart Fund (GGSF). The investment will be made in Banco Ficohsa Nicaragua.  Investment details  With a USD 10 million, 3-year debt facility, Banco Ficohsa Nicaragua will provide accessible loans to small and medium-sized enterprises (SMEs), with a dedicated […]

Incofin invests in Şekerbank to advance gender-smart financing in Türkiye

7 February 2025 – Incofin is pleased to announce an investment in Türkiye as the portfolio manager of the Global Gender-Smart Fund (GGSF), a pioneering initiative dedicated to promoting gender equality through financial support for institutions committed to this mission. This investment is being made in our long-standing partner, Şekerbank T.A.Ş.  Established in 1953, Şekerbank […]

Growing Dignity

 by Ben DeVries This case study was first featured on Impact Europe’s website here.     Qul Fruit Wall empowers farmers at every link of Kashmir’s agricultural value chain – and keeps scaling up thanks to an investment from Incofin’s India Progress Fund.    An apple grows in Kashmir    It took sun, rain and good […]

Our equity investment in Sahyadri Farms, India

  Owned by over 6,000 smallholders, Sahyadri Farms is the largest farmer-owned integrated value chain operator in the Fruits & Vegetables sector in India. This is no small feat considering India comes in only after China as the world´s greatest agricultural output producer.   Sahyadri Farms was founded by these smallholders to increase their profitability by […]

How Kashf Foundation is transforming the lives of women in Pakistan

In Pakistan, where historical cultural practices and customs can result in systemic discrimination against women, there are exemplary microfinance institutions supporting women´s progress across social and economic lines. Since 1996, the Kashf Foundation (KF) has provided financial services to low-income families and microentrepreneurs, supporting their clients—especially women—to become active agents of social and economic change. […]

Bank Arvand wins a 60 Decibels Social Impact Award

We are proud to share that our investee Bank Arvand has won a 60 Decibels Social Impact Award for ranking top 3 out of all 32 Asian financial service providers surveyed in the 2024 Microfinance Index. The MFI Index is the world’s largest financial inclusion index grounded in customer voice, surveying 36,000+ clients of financial […]

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Committed beyond investment

 

Impact Report 2024

Hands holding group of icons of people

Value creation through inclusive progress

We are passionate about pursuing inclusive progress through our investments in emerging countries. Our aim is to create value for our investors, our partners, our portfolio companies and the lives they touch. As an AIFM licensed fund manager, we create and manage impact oriented funds, advise on fund management for third parties and facilitate capacity building via our technical assistance facilities.

 

Map with countries where Incofin is active

We invest in
developing countries

Headquartered in Belgium with a global network of 5 offices, we finance and support organisations in over 65 countries.

USD 1.2Bn
assets under management
350+
investees
65
countries
1,490
transactions
USD 2,7Bn
investments

A driven & international team

Incofin’s biggest asset is our international team. We have a team of more than 80 professionals with in-depth private equity, rural and agricultural finance expertise. Thanks to their expertise, commitment and strong relationships with the organisations in which we invest, Incofin succeeds in making a difference.

Our expertise

Equity

With more than 30 completed equity investments including a strong exit track record, we are proud to say that we have helped build and support solid institutions serving millions of clients globally.

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Debt-Finance

Risk capital is the core of Incofin’s investment activities. We have a strong track record in providing debt and quasi-equity financing to over 300 investees across emerging countries.

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Agri-Finance

We support sustainability focused producer cooperatives and agro SMEs across Latin America, Africa and Asia. Our balanced portfolio of 50+ clients not only serves local food chain systems, but also promotes global food demands for exported products.

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Technical Assistance

We work with a well-established network of service providers to ensure our clients get the right expertise and support. We continuously monitor the development of our projects, evaluate the results and measure the impact for investees and for end customers.

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