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 has a strong legacy of fostering sustainable economic growth and financial inclusion. Known as the “Sustainable Bank of Türkiye,” Şekerbank has been instrumental in supporting women entrepreneurs, particularly in rural areas, through tailored financial products and advisory services.
With this USD 15 million, 3-year debt facility, Incofin is reinforcing its commitment to empowering women micro-entrepreneurs and women-led and women-owned MSMEs in Türkiye. Given Şekerbank’s deep rural outreach, the facility will primarily benefit underserved women entrepreneurs in rural areas, helping to bridge the financial inclusion gap.
Leadership Insights
Ms. Aybala Şimşek, CEO of Şekerbank, shares:
“Şekerbank’s commitment to social and environmental impact has been instrumental in building strong, long-standing partnerships with development-based international financial institutions. In 2024, alongside our solid financial performance, this dedication also played a key role in securing further long-term, ESG-based foreign funding. With this agreement with the Global Gender-Smart Fund of a USD 15 million loan, we will increase financial support to SMEs and micro-enterprises within our women’s banking initiatives, reflecting our commitment to empowering women’s active participation in the economy. I extend my sincere gratitude to all involved, and particularly to Incofin Investment Management, for their efforts in making this agreement a success.”
Mr. Geert Peetermans, Co-CEO of Incofin, states:
“As Incofin, we have been working with Şekerbank since 2020. We have been always delighted by the quality of our cooperation and by the constant improvements achieved by the bank management both on efficiency and ESG areas. We strongly believe in the power of entrepreneurship, and we are proud to support their vision.”
About the Global Gender-Smart Fund (GGSF)
The Global Gender-Smart Fund (GGSF) is the world’s largest gender-lens investment fund. Its strategy aims to address the USD 1.7 trillion gender gap by providing responsible financial services to underserved women, women-owned, and women-led businesses in developing markets. GGSF seeks to improve livelihoods, promote women’s leadership, and enhance gender balance within financial institutions.
About Şekerbank
Şekerbank is a commercial bank with deep roots in rural Türkiye, serving agricultural producers, SMEs, and underserved communities. With a mission centered on “community banking” and sustainability, Şekerbank has earned recognition as a leader in social and environmental banking practices. The bank plays a vital role in Türkiye’s agricultural supply chain and focuses on sustainable agriculture, energy efficiency, and inclusive finance for women.
About Incofin
Incofin Investment Management is an impact-driven fund management company specializing in emerging markets. Headquartered in Belgium with offices worldwide, Incofin focuses on investments in inclusive financial services, agri-food businesses, and safe water companies. It currently manages assets worth USD 1.4 billion, with a diverse investor base that includes development banks, institutional investors, family offices, and private individuals.
For media inquiries, please contact:
Shonan Kothari
Email: press@incofin.com
