Information about the Alterfin shares
Information about the Alterfin shares

The Alterfin Shares

1. What is a share and what is capital used for?

Cooperative shares are the most important investment product for Alterfin and its partners in developing countries.

Shareholders’ capital is used to fund organizations in developing countries; in turn, these organizations offer loans to smallholder producers and local entrepreneurs.

Alterfin’s capital stock is a stable financial base from which investments can be made; once a loan is repaid, the capital can be used again to help other groups of people in developing countries.

2. Types of shares and capital structure

There are two types of shares:

  • shares priced at EUR 62.50 for individuals and equivalents (for example: de facto temporary associations)
  • shares priced at EUR 250 for legal entities (limited companies, limited liability companies, non-profit organizations, etc.)

On December 31, 2020, Alterfin had 6,146 shareholders with almost EUR 66 million of capital. Together, the individual shareholders hold 88% of the capital stock.

Become an Alterfin shareholder

3. Main rights attached to shares:

1. Dividends and tax credits

Subscribe to Alterfin shares and make a difference to the lives of thousands of smallholder farmers and micro-entrepreneurs in developing countries.

You can receive:

  • a tax credit
  • a dividend 

See the Advantages and Conditions here

2. Annual General Meeting and voting rights

Alterfin’s shareholders are the owners of the cooperative. They have the right to scrutinize and control the cooperative by participating in the Annual General Meeting.

All shareholders are members of the Annual General Meeting (AGM) that is held at least once a year. The AGM is the ultimate decision-making body of the cooperative. It elects the members of the Board of Directors and appoints them to manage Alterfin. The possible distribution of dividends is also decided at the Annual General Meeting. 

The votes of each shareholder are equal to the number of shares he/she owns. However, no shareholder may hold more than 10% of the total number of votes present at the AGM. This helps guarantee a democratic decision-making process.

3. Withdrawing capital

In accordance with our statutes, individuals and temporary associations may resign or request partial or total repayment of their shares during the first six months of the financial year (from January 1 to June 30). For legal entities, this period is also limited to the first six months of the financial year from January 1 to June 30).

The amount received by a shareholder when he/she withdraws from Alterfin’s capital can never be greater than the amount initially invested (excluding the dividends received, of course).

Alterfin reimburses its shareholders free of charge.

In general, payment is made within one month of the request to withdraw. The Board of Directors may, however, refuse to grant the withdrawal if Alterfin’s financial situation could be jeopardized by the withdrawal or takeover of shares.

In practice: to withdraw in part or completely from Alterfin’s capital, contact us and we will send you the document on withdrawal.

4. Newsletter

Every quarter, Alterfin sends its free newsletter Alterfin Info to its shareholders. It includes information about new investments and the cooperative’s financial situation.

See our most recent newsletters

Sign up to Alterfin Info

5. The statutes

View our statutes here

4. Main risks and measures taken

Funding organizations in the South that work with and for smallholder producers and entrepreneurs is inherently risky and is linked to our social mission.

Becoming an Alterfin shareholder is therefore a genuine commitment. In practice, this means that if Alterfin makes significant losses, the value of shares may decrease.

Of course, Alterfin does its utmost to ensure the quality of its investment portfolio.

The following measures are taken before any loan is granted:

  • After analyzing the social performance of a new project, an in-depth study of its financial and economic indicators is carried out. It goes without saying that we expect our partners to repay their loans. The social and financial elements of our investments are analyzed by the investment committee.
  • Once a loan is granted, the loan manager maintains frequent contact with Alterfin’s partners and visits them about once a year.
  • Our partners can submit guarantees to receive a loan. If they don’t have any guarantees, Alterfin has the option of using the Guarantee Fund.
  • Alterfin has a diverse investment portfolio in terms of the number of its partner organizations, the countries 

If, despite this prior in-depth analysis and close monitoring, the partner were to experience difficulties in repaying us, specific provisions would then be made for debts that we could no longer recover or we would use previously created reserves.


Before investing in these shares, you should read the Prospectus 2022. In it, you will find all the information you need about the risks associated with cooperative shares, among other things, including the risk of loss of invested capital.

Sustainability Risk Policy

In accordance with regulation (EU) 2019/2088 on sustainability‐related disclosures in the financial services sector, the document "Sustainability Risk Policy" presents the Environmental and Social Performance Management (ESPM) Framework of Alterfin and aims to guide Alterfin to evaluate the social and environmental sustainability of its partners, central to its operations.

Key information about the investment product

5. Certification

Alterfin has been awarded various types of certification that demonstrate the ethical and sustainable nature of its commitment towards its shareholders, its staff, and its partners. These national and international certifications demonstrate Alterfin’s role as an organization striving for a fairer world.


6. Shareholder testimonial

“The win-win concept immediately appealed to me”

“I found out about microfinance from a really interesting report on TV. When a friend told me that Alterfin was active in microfinance, I invested straight away,” explains Roxane van der Gracht, a young woman who works in the fashion industry. “By subscribing to shares, I give farmers the opportunity to build a better future for themselves and I get a financial return on my investment; this win-win concept immediately appealed to me,” she says.

Read more testimonials from our shareholders.