The National Corporation for Popular and Solidarity Financing (Conafips) has officially entered the Ecuadorian stock market with the registration of Generic Securities. This strategic move is supported by the corporation’s AA+ risk rating, which fully supports its titles.

With its presence on the securities market, the Corporation will be able to take resources from economic entities and direct them to investment activities, thereby contributing to financial stability, employment growth and poverty reduction. Presence on the Stock Exchange enables us to optimize the allocation of financial resources, ensure the liquidity of securities and determine market prices, the entity explains.

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Meanwhile, the registration took place at the Quito Stock Exchange as part of the “Campanazo BVQ” and was attended by César Robalino, manager of the Quito Stock Exchange; Francisco Garzón, General Manager of Conafips; and Margarita Hernández, head of the Supervisory Department for the People’s and Solidarity Economy (Seps).

During his speech, Francisco Garzón highlighted the positive effect this step will have on the popular and solidarity economy: “We have worked hard to consolidate this milestone. Now, as a financial institution, we will be able to continue to benefit thousands of entrepreneurs and micro-entrepreneurs across the country,” he said.

For his part, César Robalino, head of the Stock Exchange, congratulated Conafips on its market penetration. “Their institution, which acts as a second-tier bank, has a well-deserved income, this will help them continue to contribute to the improvement of the quality of organizations in the public and solidarity financial sector, and especially the lives of their members,” he added.

Robalino highlighted the work carried out by Conafips through organizations of the popular and solidarity financial sector: savings and credit cooperatives and mutual cooperatives, generating financial inclusion and contributing to improving the quality of life of organizations and their partners.

Finally, Margarita Hernández, the top Sepsa authority, recognized this step as part of a “virtuous circle that creates opportunities for greater economic inclusion in society.”