SSNUP program supports VisionFund for small farmers in Senegal

/in /by

VISION FUND SENEGAL ©Philippe Lissac/GODONG for the Grameen Credit Agricole Foundation

 

The SSNUP program:

Coordinated by ADA, the SSNUP program aims to boost the productivity of smallholder farmers in Asia, Africa, and Latin America by improving risk management and developing sustainable agricultural value chains. Funded by Luxembourg, Switzerland, and Liechtenstein, the program aims to improve the living conditions and food security of more than 10 million smallholder farmers. The Grameen Crédit Agricole Foundation is one of the impact investors implementing the project.

A high-impact agricultural project in Senegal:

Agriculture plays a key role in the Senegalese economy, accounting for approximately 75% of the workforce and contributing significantly to the country's economic growth. However, the sector remains heavily dependent on rain-fed agriculture, with only 5% of irrigated land, making it particularly vulnerable to the effects of climate change. Furthermore, only 20% of the country's adult population has access to the formal banking system, limiting smallholders' access to affordable financial solutions.

Vision Fund Senegal, a microfinance institution created in 2016 by World Vision International, plays a crucial role in this context. With a loan portfolio of over €13.8 million as of September 2023, the institution serves 58,895 active borrowers, of whom 98 are women and 74 live in rural areas. Its agricultural portfolio, including livestock and crop activities, represents 88 of the total.

A project to strengthen the financial skills of smallholders:

With support from the SSNUP program, Vision Fund Senegal will develop and implement a digital financial education training program specifically designed for agricultural households. This 18-month project, with a total budget of €40,000 (including €90 million funded by SSNUP), aims to:

  • Design a digital financial education program adapted to the Senegalese agricultural context;
  • Train 19,256 farm households across the country.

By leveraging digital technologies, this project will enable smallholder farmers to acquire the knowledge needed to better manage their finances, access financial services and improve their resilience to economic and climate challenges.

With a particular focus on women, who constitute the majority of Vision Fund Senegal's beneficiaries, this project aims not only to strengthen agricultural productivity, but also to improve livelihoods and promote sustainable and equitable financial inclusion in Senegal.

By providing smallholder farmers with the necessary financial tools and skills, this project contributes to building a more resilient, inclusive and sustainable agricultural sector in Senegal.

Positions to be filled

/by

a:8:{s:8:”location”;a:1:{i:0;a:1:{i:0;a:3:{s:5:”param”;s:9:”post_type”;s:8:”operator”;s: 2:”==”;s:5:”value”;s:16:”poste-a-pourvoir”;}}}s:8:”position”;s:15:”acf_after_title”;s:5: ”style”;s:7:”default”;s:15:”label_placement”;s:3:”top”;s:21:”instruction_placement”;s:5:”label”;s:14:”hide_on_screen”;s:0:””;s:11:”description”;s:0:””;s:12:”show_in_rest”;i:0;}

Hanadi TUTUNJI's speech at European Microfinance Week 2024

/in /by

Hanadi Tutunji, Technical Assistance Program Manager, spoke at the European Microfinance Week 2024 in Luxembourg (EMW 2024).

THE November 14, this session highlighted the challenges and opportunities related to the financial inclusion of refugees, a central theme of this edition. Concrete examples, notably in Uganda, illustrated the need to strengthen the capacities of microfinance institutions (MFIs) and financial actors to meet the specific needs of this vulnerable population.

Refugees, often perceived as a temporary population, actually reside in host countries for long periods. Uganda, For example, 77 % refugees have been living there for more than ten years, making the country the largest host of refugees in Africa and the fifth largest in the world.

During this session, Hanadi Tutunji emphasized the importance of developing tailored financial solutions to promote the economic integration and self-reliance of refugees. She also highlighted opportunities for collaboration with strategic partners, emphasizing the need to choose partners aligned with the values of inclusion and social responsibility. The selection of partners is based on their ability to understand the specific needs of refugees and to offer innovative and sustainable solutions.

Celebrating women, drivers of change

/in /by

In this International Women's Day, Grameen Crédit Agricole wishes to recognize the essential role that women play in the society and economy of emerging countries. For 16 years, Grameen Crédit Agricole has been promoting the empowerment of women by strengthening the partners it supports who provide them with tailored global financial solutions. Among the organizations supported by Grameen Crédit Agricole are: 6.7 million of beneficiaries including 73 % women And 76 % customers in rural areas.

Women are true drivers of economic and social change. When they have the means to undertake and generate income, they prioritize investing in the well-being of their families and communities. Their financial autonomy strengthens their decision-making power within the household and allows them to break the cycle of poverty.

Grameen Agricultural Credit promotes local financial inclusion and supports women entrepreneurs in emerging countries: farmers, traders, peasants, and artisans. Their determination, creativity, and resilience are a constant source of inspiration. This is why we will continue to innovate to better meet their specific needs.

On this symbolic day, let us pay tribute to all these exceptional women who, through their hard work, are building a better future for themselves, their families, and their local communities. Together, let us continue our efforts for a fairer and more inclusive society, where gender equality is fully achieved.

Thierry Uy Tiv and Robin Lavrilloux of the Grameen Credit Agricole Foundation Podcast participate in a discussion on financial inclusion in Thailand

/in /by

Thierry Uy Tiv (Innovation and customer) and Robin Lavrilloux (Head of the Financing Team), participated in the recording of a podcast in Thailand dedicated to financial inclusion, organized by the Macroeconomic Policy Bureau, THE Fiscal Policy Journal and the KM TaskforceThe event highlighted the transformation of communities through inclusive finance.



The discussions addressed the challenges and opportunities related to access to financial services in regions marked by significant socioeconomic inequalities. Experts shared their experiences and discussed innovative strategies to promote financial inclusion, such as the use of fintechs and incentive-based tax policies. They also highlighted the importance of local initiatives that enable disadvantaged populations to better access banking services and microfinance solutions, particularly for women, who are often excluded from financial services.

Additionally, they highlighted the crucial role of responsible investments in creating a more inclusive and sustainable financial ecosystem. The experience of other countries was discussed to illustrate how successful models of financial inclusion have transformed the lives of many communities around the world.

VisionFund Tanzania: Digital microloans, women entrepreneurs, and great success stories.

/in /by

In 2023, Grameen Crédit Agricole supported VisionFund Tanzania , with a loan of 2 million euros. This microfinance institution improves the lives of low-income entrepreneurs by providing them with sustainable and inclusive financial services. These loans play a vital role in empowering women entrepreneurs, who represent nearly 60 % of their customers. Thanks to this funding, they develop income-generating activities, improve their living conditions and invest in the education of their children, thus unlocking the economic and social potential of the local community.

Digitalization is also a key lever for VisionFund Tanzania. Using digital tools, managers have simplified loan processes, made services more accessible, and improved operational efficiency. This innovative approach has made life easier for women entrepreneurs, particularly in rural areas, where 63 % of the customer is located.

Inspiring testimonies from women entrepreneurs illustrate the tangible impact of these loans: local job creation, increased family income, and increased self-confidence. These results demonstrate that microfinance, combined with digitalization, is a powerful tool for unlocking the economic potential of communities and sustainably improving quality of life.

2023 Annual Report of the Inclusive Finance Fund in Rural Areas

/in /by

The FIR (Inclusive Finance in Rural Areas) fund was created in 2018 by the Foundation to provide Crédit Agricole Group entities with a specific fund for inclusive finance worldwide. From the outset, 21* Regional Funds participated with Amundi And Crédit Agricole Insurance to the financing of 8 rural microfinance institutions present in 8 countries in Sub-Saharan Africa, Eastern Europe, Central Asia and Southeast Asia.

In 2023, the FIR fund increased its investments to finance micro-entrepreneurs. Seven new loans were granted to MFIs, allowing it to achieve a very good asset deployment rate (80%). As of December 31, 2023, outstanding loans stood at €8,350,000, representing €80 of asset deployment. These microfinance institutions, in turn, finance micro-entrepreneurs, of whom 67% are women, 75% are located in rural areas, and 37% are farmers.

By the end of December 2023, the FIR fund supports 8 microfinance institutions: Mikra in Bosnia and Herzegovina, Lazika in Georgia, Asian Credit Fund in Kazakhstan, Oxus in Kyrgyzstan, Prima Finantare in Moldova, Furuz in Tajikistan, AMZ in Zambia and Pahal in India.

Download the report

*Alpes Provence, Alsace-Vosges, Brie Picardy, Centre-east, Centre-France, Centre Loire, Centre-West, Champagne-Burgundy, Charente-Périgord, Finistère, Franche-Comté, Ille-et-Vilaine, Languedoc, Loire-Haute Loire, Martinique-Guyana, Normandy-Seine, Provence Côte-d'Azur, Reunion, Savoie, South Rhône Alpes and Touraine Poitou

Mission of the Foundation's administrators to Senegal

/in /by

From December 8 to 10, 2024, the Foundation's directors carried out a mission to Senegal, punctuated by inspiring visits and constructive discussions with local partners. This immersion aimed to better understand the impact of the Foundation's initiatives in the country.

On the agenda for the first day: visit to the agency of VisionFund Senegal in Fatick, where administrators met with microcredit clients, mainly women, who use these loans to develop income-generating activities. The day continued with a discovery of Plastic Odyssey Factory, an innovative recycling plant, and concluded with a dinner with local entrepreneurs.

The next day, the administrators visited the Nobin Project, a program aimed at transforming unemployed young women into entrepreneurs, as well as Haskè Conseil, an innovation hub dedicated to private sector development in West Africa.

Through this mission, the Foundation reaffirms its commitment to supporting local initiatives that drive economic, social, and environmental progress. These meetings highlighted the central role of microfinance and impact businesses in improving the living conditions of vulnerable populations in Senegal.

Grameen Crédit Agricole Foundation and Proparco strengthen their partnership

/in /by

 

 

December 6, 2024, at Proparco headquarters, a new agreement between the Grameen Crédit Agricole Foundation And Proparco has been signed. This ambitious partnership aims to join forces between the two organizations to promote financial inclusion in Africa, the Middle East, Asia, and the Balkans.

By partnering with Proparco, the Grameen Crédit Agricole Foundation aims to scale up the implementation of high-impact projects. These initiatives include technical support to promote:

  • Gender equality,
  • Adaptation to climate change,
  • Financial inclusion of refugee populations.

Historical partner of the Foundation since 2010Proparco shares common strategic objectives, particularly in the area of responsible financial inclusion. This new agreement strengthens a rich collaboration, enabling both entities to amplify their impact and effectively address economic and social challenges in the regions concerned.

Two new technical assistance programs will be supported by Proparco and implemented soon:

  • African facility: Innovate to support rural microfinance institutions with a strong social impact in sub-Saharan Africa and facilitate sustainable entrepreneurship and the empowerment of women.
  • Financial inclusion of refugees and host communities in Uganda

This renewed partnership demonstrates the commitment of both organizations to building innovative and sustainable solutions for the most vulnerable populations.

 

_____________________________________

To find out more:

Proparco Proparco is the AFD Group subsidiary dedicated to the private sector. Its operations aim to strengthen the contribution of private actors to achieving the SDGs. Proparco participates in financing and supporting businesses and financial institutions in Africa, Asia, Latin America, and the Middle East. Its action focuses on key development sectors: infrastructure with a focus on renewable energy, agribusiness, financial institutions, health, and education.

Creation of the Women Empowerment for Climate fund with Beyond Finance and FosterImpact, by, for and with women

/in /by

Pictured, from left to right: Camille Huret, Founder and CEO of FosterImpact; Maud Savary-Mornet, Founder and CEO of Beyond Finance; and Véronique Faujour, Executive Director of the Grameen Crédit Agricole Foundation.

November 27 – Grameen Crédit Agricole Foundation, Beyond Finance and FosterImpact announce the creation of the impact fund Women Empowerment for Climate, which aims for $100 million for adaptation to climate change, by, for and with women.

 Women are on the front lines of climate change.

A study conducted in March 2024 by the FAO[1] A study on food and agriculture in 24 countries and 100,000 households concluded that a one-degree rise in temperature would lead to a 34% drop in women's income. In times of drought or rain, women work harder, walking further to supply their communities with food, water, and firewood.

Yet women can play a key role in resilience solutions and sustainable resource management. They are powerful agents of change, not only for the development of economic growth but also for the success of climate policies.

It is based on this observation that the Grameen Crédit Agricole Foundation, Beyond Finance and FosterImpact have joined forces and announced the creation of Women empowerment for climate, a $100 million impact investment fund dedicated to empowering women to succeed in climate change adaptation policies.

Women Empowerment for Climate : a fund for action, by, for and with women

Women are not only the most vulnerable to climate change, but also key players in adaptation strategies. Thanks to their expertise, they develop local solutions for sustainable agriculture, natural resource management, water, energy, and food conservation. However, despite their skills, women are still largely underrepresented in decision-making processes, they are not sufficiently consulted, and their knowledge is not always integrated into adaptation strategies and climate policies.

Therefore, for women to be able to fully play their role in the fight against climate change, it is crucial to strengthen financial support to enable them to have access to the necessary financing.

Faced with inequalities exacerbated by global warming and convinced of the central role of women in climate solutions, the leaders of the Grameen Crédit Agricole Foundation, Beyond Finance and FosterImpact have joined forces to launch the fund Women empowerment for climate.

This impact fund is dedicated to sectors that primarily benefit women and climate adaptation in Asia and Africa.

It will target three key sectors where women have a direct impact on the success of climate policies: access to clean water, access to clean energy, and access to sustainable agricultural techniques.

The fund Women empowerment for climate aims to finance and support local microfinance institutions and local social impact businesses, committed to transforming their products and services (credit, savings and insurance), and adapting them to the specific needs of women, to include women in their governance and decision-making processes, or to finance entrepreneurial projects led by women.

Throughout their transformation journey, investment recipients will be supported by technical assistance, and loans will be indexed to non-financial performance indicators – such as greater representation of women in key roles or the development of climate adaptation products and services dedicated to women, to name just a few.

The fund aims to raise $100 million from private and public investors in 2025.

"We are convinced that women are true agents of change; they must be more empowered and involved in decision-making. This is not just a question of equality; for us, it is a necessity for developing regional economic growth and is a condition for the success of climate policies."

Véronique Faujour, General Delegate of the Grameen Crédit Agricole Foundation

" We are very optimistic about this partnership which allows for alignment on common values and a shared observation of climate issues by, for and with women.. »

Maud Savary-Mornet – founder and CEO of Beyond Finance and Camille Huret – founder and CEO of FosterImpact

[1] FAO. 2024. The unjust climate – Measuring the impacts of climate change on rural poor, women and youth.

Download the press release here

THE FOUNDATION

OUR SOLUTIONS

SUPPORTED ORGANIZATIONS

Search Search

Newsletter