The signing of a partnership agreement with the ACEP group opens up a new integrated consulting approach for the Foundation: support the digital transformation of ACEP Group in Cameroon, Niger, Burkina Faso and Madagascar.

On June 6, all representatives of ACEP's subsidiaries met with the Foundation's team for an initial in-person steering meeting. It was an opportunity to take stock and discuss the implementation of this unprecedented partnership.

In 2022, the Foundation, a partner of three ACEP Group subsidiaries since 2016, 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 research of which is entrusted to the Foundation. Concretely, this involves supporting the group in their search for funds and coordinating the funds raised in order to facilitate the implementation of this digital transformation project for their subsidiaries. 

A unique approach

ACEP is accustomed to relying on its own resources, and for the first time is using a third-party structure to support it in its search for technical assistance funding. This is also a unique partnership for the Foundation. Until now, the Foundation's technical assistance team sought grants and signed contracts with donors such as Proparco, the EIB, SIDA, etc., then shared these with its partners, on themes corresponding to the expectations of either donors or partners. This new approach, providing greater advice to its partners, corresponds to the desired evolution of its technical assistance activities.

 

A synergistic agreement
Each partner will be able to learn from the other. ACEP, which is leading the project's implementation, requires the Foundation's experience in fundraising and managing the funds raised. The Foundation, for its part, will contribute to a large-scale digital transformation program.

ACEP
Founded in 1999, the Private Enterprise Credit Agency is a private operator specializing in the creation of urban MFIs.
Partner of the Foundation since 2016 in 3 countries (Niger, Cameroon, Burkina Faso,), its mission is to support small informal entrepreneurs who need credit.

ACEP in figures: 30 years of experience / 160,000 entrepreneur clients including 40% women borrowers / 124M outstanding loans

Testimony of Thierry Perreau, director of ACEP Conseil

 

Testimony of Yann AKINDELE, CEO of ACEP Cameroon, who explains why ACEP Cameroon is committed to digital transformation at the local level with its clients:

A lasting partnership

The Foundation has supported three ACEP Group subsidiaries since 2016 with debt and technical assistance. A total of eight loans were granted in local currency, representing a total of €12.5 million. Fifteen technical assistance missions were conducted on the following topics: social performance management, digitalization of operations and products, introduction to customer centricity, internal audit and risk management, and financial management.

The new edition of the Foundation's integrated report has just been published, and you can now discover the highlights of the year in words and images:

As of December 31, 2022, the Foundation managed €86.2 million in outstanding loans for 69 microfinance institutions and 10 social enterprises in 36 countries. Women's entrepreneurship and the development of rural economies remain at the heart of its work: 91 of the 9.2 million beneficiaries are women, and 82 live in rural areas.

Faced with an international context marked by geopolitical and economic instability and climate change in the countries of intervention, the Foundation continued in 2022 with conviction its action to strengthen the financial inclusion of women and the sustainable economic development of rural areas.

Download the Report 

 

Replay of the show “Choose Africa on air” on June 8, 2021, organized by Proparco, which focused on entrepreneurship in Africa. Economic stakeholders, entrepreneurs, experts, and financial partners, including the Grameen Crédit Agricole Foundation, came together to share experiences and help better understand the challenges facing entrepreneurs on the African continent and Proparco's tailored responses.

Africa is the continent with the highest rate of entrepreneurs. But today, only 20% of SMEs on the continent have access to bank loans and 87% of startups have no access to financing. There is therefore a real lack of financing adapted to small businesses.

Following the health crisis, AFD has decided to strongly support the entrepreneurial fabric in Africa, which plays a key role in economic recovery. The informal sector remains an essential component of sub-Saharan African economies. Regardless of a project's stage of development, an inclusive support approach is essential to finance as many businesses as possible.

Philippe Guichandut, Director of Technical Assistance and Partnerships at the Foundation, explained how microfinance meets the needs of vulnerable entrepreneurs excluded from traditional banking services. Watch his presentation below:

 

The Solidarity Bankers program, launched in 2018 by the Grameen Crédit Agricole Foundation and Crédit Agricole SA., allows the group's employees to contribute to socially useful projects through their skills. A variety of missions are offered, in person or remotely, to support microfinance institutions and socially and environmentally impact companies that are partners of the Foundation.

In this context, Anya Lounis of Crédit Agricole Leasing & Factoring in 2022 and today at Crédit Agricole Insurance And Anne Elizabeth Starr of Crédit Agricole Corporate & Investment Bank traveled to Georgia in 2022 for a two-week mission to Lazika Capital, a microfinance institution. Their goal was to analyze existing marketing initiatives, collaborate with local teams to develop the 2023 marketing plan, and improve financial product sales management. Their testimonials reflect the positive impact of this experience.

Discover the daily life of their mission in video through 3 vlog episodes:

• Episode 1: Arrival in Georgia.

• Episode 2: Immersion.

• Episode 3: Leaving Georgia.

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Anne Elizabeth Starr, Head of Trade Finance Sales to Financial Institutions at Crédit Agricole Corporate & Investment Bank, emphasizes the importance of the human aspect of this mission: “Anya and I had a shared vision for this mission in Georgia: to support Lazika Capital in its objectives as best we could and to fully experience this human adventure!” She also mentions the inspiring meetings with Lazika Capital’s farmer clients, which enriched their understanding of local needs and culture.

Anya Lounis, a solidarity banker at Crédit Agricole Leasing & Factoring in 2022 and now Operational Marketing Manager at Crédit Agricole Assurances, shares her enthusiasm for this professional and personal experience, which allowed her to put her skills to work for financial inclusion: "This opportunity allowed me to take a step back and be open-minded. Anne Elizabeth and I had to adapt since we were unfamiliar with the microfinance sector."

Lazika Capital, founded in 2000 in Georgia by Oxfam Great Britain, is a Tier 2 microfinance institution (an organization with a portfolio of between $10 million and $100 million). Based in Zugdidi, it operates through 18 branches in western Georgia and provides financial services to mainly rural low- and middle-income entrepreneurs. Lazika Capital has 280 employees and 77 loan officers.

 

The Foundation elected three new members to its Board of Directors at its most recent meeting, held on April 25, 2023, in Luxembourg. The Foundation's Board of Directors is chaired by Raphaël Appert, First Vice-President of the Fédération Nationale Crédit Agricole and Managing Director of Crédit Agricole Centre Est. The Vice-President is Mohammad Shahjahan, representing the Grameen Trust.

The Foundation thanks all those who have actively contributed over the past few years!

The new members of the Foundation's Board of Directors are:

• Nicolas Mauré, President of Crédit Agricole Toulouse.
• Pierre Fort, Director of Crédit Agricole Sud Rhône-Alpes.
• Tanguy Claquin, Global Head of Sustainability, Crédit Agricole Corporate & Investment Bank.

IThey join the current members.

Board Chairman Raphael Appert and General Delegate Véronique Faujour are enthusiastic about working with these new members.

The 2023 Board of Directors is composed of representatives of the Crédit Agricole Group, representatives of Grameen Trust and qualified personalities.