By June 2008, HKL had eight key shareholders. They include Hattha Kaksekar NGO which holds 20.02% of the share value, Oikocredit 20.02%, SIDI 15.00%, NORFUND 14.15%, TRIPLE JUMP 14.15%, HK SA 7.68%, CORDAID 6.95%, and Dr. DY DAVUTH 2.04%.To keep HKL consistent with its vision, mission, and corporate governance, the board meetings are usually held twice a year (March and November). These meetings will often focus on business planning, budgeting, governance, and management of the institution.  

More importantly, some of the board members are also the members of the HKL internal committees such as Internal Audit Committee, Asset and Liability Committee (ALCO). 

The following list demonstrates HKL capital structure as of June 2008 and a brief background of each shareholder:

OIKOCREDIT

OIKOCREDIT is a worldwide, cooperative financial institution offering loans, capital and technical support to microfinance institutions and other enterprises focusing on building opportunities for financially less advantaged entrepreneurs without access to credit. The OIKOCREDIT international support office is based in Amersfoort, Netherlands, and OIKOCREDIT has local representation in approximately 30 countries worldwide. These offices source and monitor project partners in more than 65 countries and ensure a close relationship with tailor-made services for the project partners. The capital needed to provide development financing comes from investments in OIKOCREDIT by more than 30,000 individuals, over 500 churches and church-related organizations, as well as from other institutions including a number of former and existing project partners of OIKOCREDIT around the globe, for more information visit their website at www.oikocredit.org.

HATTHA KAKSEKAR NGO (HKNGO)

HK NGO was originally transformed from a Food Security Project since 1996. In October 2001, this NGO was restructured to become a shareholder of HatthaKaksekar Limited (HKL). Thus the assets and equity of the NGO were transferred to HKL.  Initially, HK NGO’s share amount was USD 35,010 representing 45% of the total share of HKL. With an additional amount transferred from some of HK NGO’s subordinated loan, HKL NGO increased its share investment to US$ 128,550. As of 2007, the shared capital of HK NGO to HKL accounts for US$ 543,900 representing 40.60% of the total share.

Solidarité Internationale pour le Développement et l' Investissement (SIDI)

SIDI is a French limited liability company, based in Paris specializing in investments for supporting small enterprises in developing countries. Its total assets at the end of 2000 amounted to 8.1 million Euros and its net profit amounted to 40,000 Euros. SIDI joined HKL in 2001 by initially investing USD 15,000 (which represented 19% of total shares). In 2003, SIDI agreed to increase its shares to USD 51,450 to maintain its share at 19.96%. As of 2007, the shared capital of SIDI to HKL accounted for US$ 343,000 represented 25.60% of the total share. To learn more about solidarité Internationale pour le development et d’investissement visit  www.sidi.fr

NORFUND

Norfund commenced its operation in 1998 and is structured as a separate legal entity with limited liabilities (Norfund Law). The chairman and the board of directors are appointed for a four-year period by the Crown. The Institution currently receives its investment capital from the Norwegian government. The capital base, which totalled about NOK 4 billion on December, 2007, is expected to grow steadily for several years to come. Norfund’s employees and board of directors take a respectful approach to the job of investing risk capital in developing countries. The aim is to become a leading investment fund for emerging markets by combing a strong financial position with high-quality investment management skills and extensive international experience. Norfund’s website is www.norfund.no. 

TRIPLE JUMP

Triple Jump is a Dutch-based organization which provides financial services to microfinance institutions in all phases of their development (emerging, expanding and mature). Triple Jump Fund Management, a leading microfinance fund manager, provides funding solutions, while Triple Jump Advisory Services, an independent foundation, provides consulting services and technical assistance. Triple Jump seeks to deliver an effective social impact in emerging markets by harnessing the entrepreneurial spirit. In 2007, Triple Jump reached a total of 210,000 micro entrepreneurs. The portfolio under management doubled in size during 2007, exceeding the EUR 100 million marks. By the end of 2007, Triple Jump had invested in 108 MFIs in 38 developing and emerging-market countries worldwide. The Triple Jump web address is www.triplejump.eu.

HATTHA KAKSEKAR STAFF ASSOCIATION (HKSA)

HatthaKaksekar Staff Association (HKSA) is a legal entity which is given financial contributions by HKL’s staff. All HKL staff are allowed to acquire HKL share during a specified period of time (normally from April to September of the year). The size of the dividend given to the staff as a shareholder depends on the net profit of HKL from the previous fiscal year. This dividend will usually be declared in March or April of the upcoming year. As of 2007, the shared capital of HK SA to HKL accounted for US$ 208, 600 and represented 15.57% of the total shares.

CORDAID

CORDAID was created with Memisa, Mensen in Nood and Vastenaktie, one of the largest international development organizations in the Netherlands. This NGO is supported by half a million people in the Netherlands. CORDAID is working with more than a thousand partners worldwide to create a lifestyle with dignity for poor people and those who are deprived of their rights. CORDAID was invited to join HKL in 2003 when HKL was required to increase its paid-up capital from USD 77,850 to USD 257,850.

DY DAVUTH