First investment in Albania

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During the first half of 2024, the Foundation decided to intervene for the first time in Albania to support the Albanian-based microfinance institution Noa.

The Foundation has granted Noa initial funding equivalent to €2 million over a three-year period, helping to boost economic and social development in Albania.

Noa was established in 1998 and its mission is to provide comprehensive financial and non-financial services to Albanian entrepreneurs, farmers and households.

 

The Foundation joins the “2X Challenge” and commits to gender equality in social investment

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In the strategic plan “Ambitions 2025“, the inclusion of women is a strategic priority. The Foundation reaffirms its social mission, that of contributing to the fight against poverty and inequality through financial inclusion, particularly for women and in rural areas in some of the most fragile countries. Most often excluded from the banking system, women in rural areas nevertheless represent an economic force for the entire local economy and stakeholders in their community.

This focus on women came to fruition in March 2024, with the qualification of the Foundation at the 2x Challenge, which officially commits, on the basis of 3 criteria, to the economic empowerment of women, a central mission at the heart of its action:

Governance : The GCA Foundation's steering committee is composed of 40% women (2/5) and the board of directors is composed of 33% women (4/12).

Job : The Foundation has 55% women among its 20 direct employees. They also have policies and procedures aimed at promoting gender equality, including a childcare contribution policy and a transparent, accessible salary scale that is shared with all employees.

Wallet: 71% of the Foundation's investments meet at least 1 of the 2X Challenge criteria.

This international initiative aims to promote gender equality, female entrepreneurship and support the reduction of inequalities through financial inclusion.

The 2X Challenge, launched in 2018, brought together several international financial institutions, which strengthened their commitment to investing in gender equality to promote women's access to quality jobs and financing opportunities.

NOBIN: a new initiative to support women's entrepreneurship in Senegal

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March 20, 2024, a partnership was officially signed between the Foundation, the Grameen Trust And Yunus FranceThis collaboration marks the beginning of an innovative program called NOBIN, aimed at supporting women's entrepreneurship in Senegal, which has already proven successful in Bangladesh through the Grameen Trust.

This signing took place in the presence of Veronique Faujour, General Delegate of the Grameen Crédit Agricole Foundation, Professor Muhammad Yunus, member of the board of directors of the Grameen Crédit Agricole Foundation and president of the Grameen Trust, as well as Yoan Noguier, director of Yunus France.

NOBIN, launched in 2013 in Bangladesh, is an innovative program that offers a new way to finance women and young entrepreneurs with personalized support and mentoring. Currently deployed in Dakar, Senegal, with 2,500 people in working-class neighborhoods, NOBIN aims to accelerate the creation of 250 businesses over a period of 3 years, thus enabling women without access to financial services to realize their business projects.

The Foundation is fully committed to this initiative by investing 500 000€ in the project, with the aim of creating a sustainable financing mechanism and deploying NOBIN on a larger scale in Senegal over the next 3 years.

This social entrepreneurship initiative enables women who lack access to financial services to bring their ideas to life, accelerate the launch of their businesses, and thus gain access to the formal economy.

This new collaboration fits perfectly into the objectives Ambitions 2025 of the Foundation, which aim to innovate to support vulnerable women and young people, while strengthening partnerships to amplify its actions.

Read the press release here

New partnership in Benin with UNACREP

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Continuation of the Foundation's funding in Sub-Saharan Africa 1st semester 2024 with the agreement of an initial loan for an amount in local currency equivalent to 1.5 million Euros to the microfinance institution UNACREP "National Union of Rural Savings and Loan Banks Benign, over a period of three years. The Foundation currently has four other partners in Benin.

UNACREP is a microfinance institution, created in 1992 by the NGO Sasakawa / Global 2000, whose mission is to be the main financial partner of agricultural entrepreneurs in Benin. Among the 21 063 customers, more than 50 % of the loan portfolio is dedicated to agricultural entrepreneurs, active in all functions of the value chain. 40 % customers are women, mainly active in the processing and sale of agricultural products. UNACREP It also provides productive loans to micro-entrepreneurs active in the trade sector and consumer loans to civil servants. Clients borrow individually (over 60%) or organized into groups and cooperatives.

With this new loan, the Foundation strengthens its presence in Sub-Saharan Africa, which represents 30,% of the total outstanding amount monitored by the Foundation at the end of March 2024.

To learn more about our partners, Click here.

Meeting with Muhammad Yunus, Nobel Peace Prize winner and co-founder of the Foundation

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During his visit to Paris on May 14, 2024, Muhammad Yunus, member of the Foundation's Board of Directors and President of the Grameen Trust, was welcomed by Véronique Faujour, General Delegate of the Grameen Crédit Agricole Foundation to discuss financial inclusion and social entrepreneurship.

During this interview, Muhammad Yunus recalled the food crisis that hit Bangladesh in the 1970s. He explained how small loans granted to villagers near the university where he taught laid the foundations for microfinance. He emphasized the importance of targeting women, who are often excluded from traditional financial systems but possess strong entrepreneurial skills.

In the current context of economic disparities and environmental challenges, Yunus presented his economic model based on three objectives: zero poverty, zero unemployment, and zero net carbon emissions.

He also discussed the NOBIN program, which finances entrepreneurship for women and youth. This program, which has proven successful in Bangladesh, is supported by the Foundation in Senegal. It aims to provide women with access to financial services to launch and expand their businesses, thus integrating them into the formal economy.

FIRST INVESTMENT IN UZBEKISTAN TO STRENGTHEN RURAL ENTREPRENEURSHIP

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In September 2023, the Foundation reached a new significant milestone by investing for the first time in a new country: Uzbekistan, located in Central Asia. A first loan was granted in local currency of 1 million Euros to the microfinance institution Renesans.

The Foundation chose to work in Uzbekistan because the country enjoys relatively high social and economic stability. A large portion of the population remains underbanked, and the standard of living remains relatively low despite the country's abundant natural resources and robust agricultural sector.

This support for Renesans deepens the Foundation's presence in Central Asia, currently supporting 10 partners in Tajikistan, Kazakhstan, Kyrgyzstan, and Georgia. Renesans was founded in 2007 with the mission of providing accessible financial services to women entrepreneurs and self-employed people in rural areas. Its ambition is to become a leading microfinance institution in all regions of the country.

The MFI operates mainly in the Tashkent region in the northeast of the country and in Karakalpastan in the northwest, but aims to expand rapidly to cover all regions of the country through a network of 10 branches and 103 employees.

To date, the institution has nearly 7,195 customers, of which 54% are women, and operates mainly in rural areas, representative 76% of its customers.

The Foundation's funding will enable Renesans to provide loans to several small entrepreneurs, promoting the country's economic growth.

Our strategic ambitions for 2025

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Faced with the digital boom in emerging countries and climate change directly impacting microfinance clients, the Foundation is publishing its 2025 strategic plan which sets out its ambitions. around three priority action verbs to accelerate its action: Strengthen, Innovate and Cooperate.

The roadmap is clear: Combine financial inclusion and promote a three-zero economy: zero carbon, zero exclusion, zero poverty.

The positioning is unique: Promoting entrepreneurship among the most vulnerable, primarily women in rural areas, in areas least prepared for climate change, through microfinance and impact businesses.

Ambitions 2025: Strengthen support for partners and the impact of our actions, innovate to enable rural agriculture to successfully adapt to climate change and better support the most vulnerable, women, young people and refugees, cooperate to amplify our action.

The Foundation's team and governance are mobilized. Achieving these 2025 Ambitions relies on operational excellence in our operating methods and our organization: Aim for operational excellence and constant efficiency in our operating and organizational methods: with the presence of solid governance and revised, more efficient investment processes. Acquire strong expertise in the agricultural and agri-food sectors, in the face of climate change: by training employees in new skills.

ACEP Cameroon celebrates its 25th anniversary!

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ACEP Cameroon celebrates its 25th anniversary!

In partnership with the Foundation since 2017, ACEP Cameroon has become a leading institution in the field of microfinance in Cameroon thanks to a network of 27 branches in 6 regions in Cameroon, with 382 employees. Its mission is to support the development of Very Small Enterprises (VSEs) in the country's urban centers. For 25 years, ACEP Cameroon has been campaigning for the improvement of the Cameroonian economy.

Besides these 6 regions ACEP Cameroon also plans to expand into other North-West and South-West regions in the coming years.

Deputy Director General, Christian ANGUIN, said he was happy to celebrate 25 years ofACEP Cameroon with its many partners, administrators, clients: “We have accomplished our mission in Cameroon in a comprehensive manner, with job creation and project financing.”

To date, the institution has approximately 14,970 clients, including 24% rural beneficiaries, and manages a portfolio of 44 million euros (28,851,680,000 CFA francs).

A lasting partnership between the Foundation and ACEP Cameroon: since 2017, two loans have been granted for a total amount of €4 million, two technical assistance missions have been carried out and a global consulting approach focused on the digital transformation of the ACEP group.

We were able to meet the Director General of ACEP Cameroon

In 2022, the Foundation was approached by ACEP Conseil as part of their digital transformation plan. This €10.6 million program, of which €6.3 million is co-financed by their subsidiaries and €4.2 million, the search for which is entrusted to the Foundation. Specifically, the aim is to support the group in its fundraising and coordinate the funds raised to facilitate the implementation of this digital transformation project for their subsidiaries.

During our partnership, we were able to meet the General Director of ACEP Conseil:

For more information, Click here

Speech by Philippe Guichandut at the conference “Insurance as a value creator for MFIs” at EMW 2023

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Philippe Guichandut, Secretary General of the Foundation spoke at the European Microfinance Week 2023 (EMW 2023).

On November 17, this session highlighted the success factors and challenges of the inclusion of agricultural insurance by MFIs supported by the Grameen Crédit Agricole Foundation. Examples from Cambodia and other countries highlighted the need to build the capacity of not only MFIs, but also insurers.

Natural disasters induced by climate change and weather hazards disrupt the income-generating activities of MFIs and their clients and disproportionately affect women. Not only do they have more difficulty repaying their loans, but they are also more vulnerable after a disaster. Given the impact of natural disasters, insurance is gradually being adopted as a tool not only to protect their members, but also MFIs against poor repayments caused by loss of production or assets. The session will highlight the success factors and challenges of the inclusion of agricultural insurance by MFIs supported by the Grameen Crédit Agricole Foundation. Examples from Cambodia and other countries will emphasize the need to build the capacity of not only the MFI, but also insurers, including the flow of insurance information and education systems, to create value for both the supply side and the insurer, as well as for the demand side. Participants and beneficiaries responsibly.

Edouard Sers, Director of Risk, Compliance and Impact, on the webinar "Lessons Learned on ESG and Impact Investing Strategies"

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Organized by InFiNe On Wednesday, January 31, 2024, this webinar focused on “Lessons Learned on ESG and Impact Investing Strategies,” and Edouard Sers was one of the speakers.

The objective of this webinar was to share lessons learned from the Frankfurt School's ESG & Impact Investing course and its implementation by dedicated professionals. It was aimed at professionals in the impact investing field, as well as professionals from other sectors interested in ESG and impact investing.

 

SPEAKERS' BIOGRAPHIES:

  • Anne Bastin, InFiNe, moderator

 

  • Edouard Sers, Risk and Impact Manager of the Grameen Crédit Agricole Foundation:

As part of his responsibilities, Edouard is a member of the Foundation's Executive Committee, oversees the Risk Team, and coordinates the development of ESG and Impact standards at the Foundation. He is also responsible for overseeing the GCA Foundation's investment advisory activities for the GCA Fund FIR. Previously, Edouard led the audit and risk management functions for the OXUS network in Central Asia and Africa, and worked for many years as a rating analyst and quality manager at Planet Rating in over 30 countries. Edouard is a graduate of EM Lyon Business School and began his career as an external auditor in the banking sector for PricewaterhouseCoopers.

  • Karl Richter, professor at the Frankfurt School and co-founder and executive director of Engage X:

Co-founder of iSumio, which creates software that allows organizations to calculate their impact on people and the planet, such as carbon footprint and working conditions. Executive Director of EngagedX, specializing in consulting, thought leadership, advocacy, and policy work. Karl works internationally in the private, public, and social sectors. Experienced entrepreneur, leader, and manager. Part-time course at the Frankfurt School of Finance and Management.

Previously, he served for 12 months as Head of Research and Knowledge for the UNDP SDG Impact Finance Initiative (UNSIF), where he led research to improve the analytical framework for social impact investing. Member of the European Commission's Commission Expert Group on Social Entrepreneurship (GECES) to advise on its social enterprise initiative; Member of the OECD Expert Group on Social Impact Investing. Currently Senior Fellow of the Finance Innovation Lab; and Advisor to several organizations.

Karl has been invited by civil society organizations, universities, governments, and the media across Europe, Asia, and the United States to speak about social impact investing. He has been a guest lecturer at Oxford and Cambridge Universities; advised HM Treasury on EU social investment regulations; was invited to submit evidence for alternative financing to the UK Parliamentary Select Committee on Banking Standards; was invited by the UK Cabinet to represent the UK on social investment at the EU level; and was invited by the US Secretary of State to be a panelist at the Global Forum on the Impact Economy in 2012.

 

  • Claudia Dambax, Director of Advisory Services of the Council and Associate Director of Innpact SA:

She has extensive experience in fund structuring, (public-private partnership) funds, operational fund management, legal fund management, corporate governance, and board management. She has experience with a broad client base, ranging from private clients, ultra-high net worth individuals, to institutional clients, including international financial institutions and development finance institutions. Since 2005, she has worked in the financial services industry in the private sector within an asset management/AIFM company and at the European level. She has managed UCITS and alternative funds (PE/VC, private debt, real estate). Claudia has a hands-on approach and is passionate about achieving a positive impact. Since 2010, she has focused on sustainable finance and impact finance.

Before joining Innpact, Claudia worked for Sal. Oppenheim Asset Management, Deutsche Bank/Deutsche Asset Management, and the European Investment Fund. Claudia studied human geography, business administration, and urban and regional planning at the Free University of Berlin (Germany) and Wilfrid Laurier University (Canada), which she combined with banking administration. She also holds certifications in Sustainable Business Strategy from Harvard Business School, ESG and Impact Investing, and Climate Adaptation Finance from the Frankfurt School of Finance & Management.

 

Karl gave his perspective on the ESG and Impact Investing course. Claudia and Edouard explained why they took the course, what lessons they learned, and what they applied in practice. This was followed by a question and answer session.

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