The 2025 iteration of Xposible Colsubsidio, a program led by Colsubsidio, received a total of over 500 submissions from business initiatives nationwide. The Colgas initiative was selected for its demonstrated capacity to generate value, promote business practices that meet social responsibility criteria, and contribute to the nation’s productivity.

Unusual for companies in Latin America, Colgas pledges to pay small business suppliers within 7 days of invoicing.

Didier Builes, General Manager of Colgas, indicated that the recognition validates the company’s corporate strategy. “At Colgas, we work to boost the entrepreneurs in our country, offering them concrete tools to grow and transform their businesses. This award motivates us to continue building opportunities that positively impact thousands of Colombian families,” Builes stated.

The “Empowering the Entrepreneurial Spirit” project by Colgas incorporates several strategic actions aimed at the formalization and growth of Small and Medium Enterprises (SMEs). Measures implemented include a program that guarantees payment to SME suppliers within 7 days, as well as financial inclusion initiatives designed to facilitate the sustainability of the small businesses associated with the company.

Furthermore, the program includes the Colgas Corporate University for Entrepreneurs (Universidad Corporativa de Emprendedores Colgas), a training platform that has provided instruction to collaborators and allies in areas such as sales, digital marketing, financial management, safety, and the secure use of Liquefied Petroleum Gas (LPG).

Colgas noted that this award reinforces its strategic positioning as an entity that supports productivity and entrepreneurship in Colombia. The company reaffirmed its focus on developing an ecosystem aimed at generating opportunities for the growth of small and medium businesses in the territories where it operates.

Founded in 1985, Bancompartir is one of the top four microfinance banks in Colombia with over 1,800 employees serving 450,000 customers across 104 branches nationwide. Bancompartir provides microfinance and SME financing solutions to micro entrepreneurs and other underserved segments of the population, generating opportunity for progress and quality of life improvement to thousands of families in Colombia. As of December 31, 2018, Bancompartir had a loan portfolio of USD 243 million, total deposits of USD 228 million and a book value of USD 50 million.

This acquisition represents an important step to expand Credicorp’s microfinance business in Latin America and builds upon the successful acquisition and integration of Mibanco in Peru, and the creation of Encumbra in Colombia in 2014. Colombia is one of the countries with the largest potential for microfinance, and Bancompartir provides Credicorp with an attractive geographic footprint covering 27 out of Colombia’s 33 departments. Credicorp seeks to create significant value from this acquisition by leveraging Mibanco’s capabilities, improving commercial productivity and maintaining Bancompartir’s best practices.

Upon completion of the transaction, Maj Invest Financial Inclusion Fund II will continue to hold a 22.45% interest in Bancompartir. Maj Invest Financial Inclusion Fund II is a private equity fund managed by Maj Invest, one of the leading asset managers in Denmark with over USD 10 billion under management. The remaining 3.06% interest in Bancompartir is held by other 36 shareholders, who may decide to sell their shares to Credicorp under the same terms of this transaction up until closing.

Mibanco started its operations in 1998 and was acquired by Credicorp in 2014. Mibanco merged with Edyficar in 2015 and is currently a leader in microfinance in Peru. Mibanco has over 10,000 employees serving 1.5 million customers across 331 branches nationwide. As of December 31, 2018, Mibanco had a loan portfolio of USD 3.0 billion and total deposits of USD 2.5 billion.

Encumbra started its lending activities in 2014 with special focus in Medellin, Colombia. Encumbra has over 400 employees serving 29,000 customers across 18 branches. As of December 31, 2018, Encumbra achieved a loan portfolio of approximately USD 35 million.
Credicorp Ltd. (NYSE:BAP) is the largest financial services holding company in Peru with presence in Chile, Colombia and Bolivia. Credicorp has a diversified business portfolio organized into four lines of business: Universal Banking, through Banco de Credito del Peru-BCP and Banco de Credito de Bolivia; Microfinance, through Mibanco and Encumbra; Insurance & Pension Funds, through Grupo Pacifico and Prima AFP; and Investment Banking & Wealth Management, through Credicorp Capital, Wealth Management at BCP and Atlantic Security Bank.

More than 1600 participants were present at the event, which took place at the Colsubsidio convention facility in the Galerias section of Bogotá.

“With this event we confirm once again that the most important Customer Experience Summit in Latin America, and a window of Colombia to the region to contribute to the professionalization of the sector and its growth,” said Ana Karina Quessep Executive Director of BPrO.

BPrO indicated that it expects participation will be even greater in 2020, maintaining the summit as the primary gathering point of the customer experience industry in the region, continuing to highlight Colombia as a destination and the participating companies as providers of choice.

This move marks another expansion of service for Banco de Bogotá, which claims 7,340 transaction points in Colombia, including its presence in Grupo Éxito stores — including Éxito, Carulla, SurtiMax, and Super Inter — and Colsubsidio supermarkets and pharmacies.

“Our new alliance with La 14 allows us to position ourselves as the first bank with correspondent banking locations in this prestigious chain of supermarkets and stores,” said Yohana Mojica Ramón, a manager at Banco de Bogotá.

La 14 has its largest presence in the south of the country and maintains locations in 12 Colombian cities: Cali, Bogotá, Buenaventura, Manizales, Pereira, Tuluá, Palmira, Jamundí, Yumbo, Neiva, Armenia, and Girardot.

Photo: Banco de Bogotá’s headquarters in Colombia’s capital. (Credit: Jared Wade)