Incofin Microfinance Fund is a Belgian investment fund with ample international experience and with the heart in the right place. Thanks to our local investment teams we know where your money is going to and what is done with it. We regularly keep you informed and – in addition to the satisfaction of making a positive contribution along with many others – we give you a nice financial return*.
*The fact that dividend was paid out in the previous years is no guarantee for the future.
You support micro-entrepreneurs all over the world
The entrepreneurs you support through Incofin Microfinance Fund have a dream. They are brave people. They can and want to grow. All they need is a financial boost. An investment credit for a vehicle, livestock, plants, or a workshop for instance, can make the difference for a whole family or even a whole community. A local microfinance institution (MFI) lends them a limited sum of money. Incofin Microfinance Fund helps with the financing of these MFIs. Together we stand strong is no empty slogan to us.
You may enjoy a financial benefit
Incofin Microfinance Fund is a recognized microfinance development fund (recognition until December 31, 2024)*. That means that, under certain conditions, you are entitled to a five percent tax reduction on the amount you invest in Incofin Microfinance Fund. In addition Incofin Microfinance Fund can reward its shareholders with a dividend. Not a maximum but a reasonable dividend, because our main goal is to make sure that our investments have a major social impact. As a private investor you don’t pay any withholding tax on income from movable assets on the first 800 euros of dividend income that you receive.
You help to make the local institutions stronger
In this rapidly evolving world also our financial partners in developing countries themselves draw benefit from customized support. Every year Incofin Microfinance Fund sets aside 100,000 euros for technical assistance. With this money we co-finance projects that enable experts to make their knowledge available to our local partners. This way we help to make these partner institutions stronger and operate in a more sustainable way.
Investing in shares entails risks. The shares are registered, they cannot be transferred, and in the event that a partner resigns there will be no repayment in excess of the nominal value. Retiring – in whole or in part – is only possible during the first six months of the financial year (1 January to 30 June), after approval by the Board of Directors. It is a continuous public offering of shares for a period of 12 months from the publication of the information note (i.e. from 25 July 2025 to 24 July 2026), unless the offer is closed early as a result of reaching the maximum amount of EUR 5 million before the end of this 12-month period. The company primarily strives for an important social return, which can have a restrictive effect on the financial return. That is why you are advised to read the information note and to pay particular attention to the risk factors as well as the key information document. Incofin Microfinance Fund is subject to market, concentration, debtor, country, exchange rate, interest and liquidity risks. In addition, when a partner resigns this may have a significant impact on the liquid assets of Incofin Microfinance Fund.
*Please note: Based on the most recently available information, we understand that the tax reduction for private individuals investing in development funds would be abolished starting from tax year 2026 (income year 2025). This means that anyone subscribing to shares of a recognized development fund in 2025 will no longer be able to benefit from the tax reduction when filing their tax return in 2026. You can find more information here.
That is up to you, as long as you make a minimum investment of 130.20 EUR and your total investment is a multiple of this amount. There is no maximum but Incofin Microfinance Fund may only issue shares up to 5 million EUR during a period of 12 months.
You invest in a share of a cooperative company with social purpose. You can subscribe to full shares with a nominal value of 2,604 Euros or to 1/20 shares with a nominal value of 130.20 Euros, or to a combination of both. These shares are not negotiable and cannot be transferred, except with the prior approval of the Board of Directors.
A cooperative company is a company composed of a variable number of partners (on this website we also use the words investor and shareholder) with variable contributions. In principle, a partner wanting to resign always has the possibility to do so, but concretely, this is possible only during the first six months of the year and maximally at the established nominal value. Only in a number of cases provided for in the articles of association, the Board of Directors can refuse or postpone a resignation.
You don’t pay any entry, exit or management fees.
The financial return on an investment in Incofin Microfinance Fund exclusively consists of dividends on these shares. As Incofin Microfinance Fund has a social purpose, the partners only seek a limited capital gain in addition to a considerable social return.
In case of complaints, you can turn to the complaint management department of Incofin Microfinance Fund, by calling 03 829 25 36 or by sending an e-mail to info@incofincvso.be. For financial disputes you can also turn to the ombudsman who is qualified with regard to the Economic Law Code. Contact data: North Gate II, Koning Albert II-laan 8, bus 2, 1000 Brussels, 02 545 77 70, ombudsman@ombudsfin.be, www.ombudsfin.be.
The shares, rights and obligations of Incofin Microfinance Fund are governed by Belgian law. The Belgian courts have jurisdiction in all disputes.
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Shareholder of Incofin Microfinance Fund
