JOFICO was established in 1976, in affiliation with M/S COMPAGNIE FINANCIER DU GROUP VICTORE of FRANCE, with a Registered Capital of JD: 250,000/- and a paid-up Capital of JD : 125,000/-, out of which the French held 25% and two seats on the Board of Directors. * In 1978 the Registered Capital of JD: 250,000/- was paid in full. * In 1981, the company increased its paid-up capital again to J.D: 750,000/