Letter from our managing director

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David Woods

21 December | 2015

Dear valued stakeholders,

With 2015 almost at a close, it’s a good time not only to reflect on the year’s achievements, but also look forward to what 2016 may bring. This year was one of steady progress towards our longer-term goals, as we continued delivering on our commitment to improve the lives of low-income earners.

This year was one of further growth and diversification for Oikocredit. We increased our development financing portfolio to € 808 million as at 30 September, up 24% from Q3 2014. We also remain committed to our strategic focus on agriculture and renewable energy; these now reflect 12.5% and 2% respectively of our total development financing portfolio as at 30 September.

We bid farewell to two management team members, Ylse van der Schoot and Albert Hofsink, and also welcomed a new member, Bart van Eyk, as equity and business development director. Bart will help strengthen our senior team, to ensure further growth in these dynamic and important areas. Our equity portfolio currently stands at around € 65 million which we would like to grow significantly by 2020. Bart and his team will be instrumental in building this quality portfolio, which will focus on growth stage investments of between € 2 million and € 10 million, primarily in agriculture, financial inclusion and related industries.

As we continued our strategic investments across 64 countries worldwide, we also took some time to reflect on our achievements, celebrating our 40th anniversary. In June, we held our 40th anniversary event at Saint Elisabeth’s Church in Berlin, with around 300 guests from over 30 countries in attendance. We were very proud to have Dr Konrad Raiser, former general secretary of the World Council of Churches, who was fundamental in bringing about the cooperative, give the opening speech at the event, as well as receiving a video message from Queen Máxima of the Netherlands.

Moving forward, we see 2016 as another year of steady progress and growth, based on some investments already made in 2015. We will continue to grow our development financing portfolio in line with our strategy.

Heading into this holiday season, I would like to thank you for your ongoing support and look forward to another year of continued development of our ever-closer partnerships.

Kind regards,

David Woods
Managing director

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