In 2018, the Foundation consolidated its presence in West Africa with 8 new loans

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© Didier Gentilhomme

Over the past year, the Grameen Crédit Agricole Foundation has strengthened its presence in West Africa with 8 new financings, including 3 from new partners.

In Mali, the Foundation has funded Kafo Jiginew, a mutual network of savings and credit unions that offers local financial services (savings, credit, microinsurance, fund transfers, and other services) to as many people as possible in Mali to improve their living conditions. To date, the institution has 48,000 active clients, including 92% clients in rural areas. The Foundation has granted it a loan in local currency equivalent to €3 million over a five-year period.

In Benin, the Foundation granted a local currency loan equivalent to €1.4 million to a new partner, PEBCo Bethesda, whose mission is to improve the living conditions of the population by providing quality financial and non-financial services. The institution offers group and individual loans and has approximately 95,000 active borrowers, including 641 women and 331 in rural areas.

In Togo, the Foundation also funded a new partner, Assilassimé, with a loan in CFA francs equivalent to €500,000. Assilassimé is a program created in 2012 by Entrepreneurs du Monde for marginalized people. The institution provides them with financial (microcredit) and non-financial (training, individualized support, social referral) services. It currently has nearly 30,000 clients, including approximately 95,000 women.

In Burkina Faso, the Foundation also made three new investments in 2018 with existing partners, bringing its total commitments in the country to more than €4 million, or €13.81 billion of its commitments in sub-Saharan Africa as of the end of December 2018. ACFIME received a loan in FCFA equivalent to €305,000 over a three-year period. It is a microfinance institution that helps bridge the gap not covered by large MFIs operating throughout the country, as ACFIME's loans have very strong potential for social impact. It currently has 18,600 clients, including €901 billion women. PAMF-BF received a loan in local currency equivalent to €1 million over a three-year period. The institution, which has approximately 28,400 clients, is primarily engaged in collecting savings and granting loans in Burkina Faso, in order to better meet the financial needs of low-income populations within a strengthened framework of protection for its members or users. Finally, ACEP Burkina received a loan in local currency equivalent to €1.5 million over a period of three years. Acep is a microfinance institution specializing in financing microenterprises and very small businesses in urban centers and their inner suburbs. The loans granted are primarily intended to finance working capital and investment needs. To date, the institution has 11,000 active borrowers.

Finally, in Senegal, the Foundation granted a local currency loan equivalent to €762,000 to CAURIE Microfinance, a socially responsible and financially viable microfinance institution whose mission is to contribute sustainably to the economic and social advancement of poor microentrepreneurs, primarily women. CAURIE currently has 71,000 clients, including 98% women. The Foundation also granted €100,000 in financing to SFA (Sénégalaise des Filières Alimentaires) in the form of a shareholder current account. SFA is a social enterprise that develops an inclusive value chain based on the production and marketing of rice, and in which the Foundation has been a shareholder since 2013.

The Foundation invests for the first time in Ghana

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In 2018, the Grameen Crédit Agricole Foundation consolidated its presence in sub-Saharan Africa by investing for the first time in Ghana, where it financed three partners representing 8.1 % of the new financing set up in 2018.

ID Ghana a ainsi reçu un prêt en monnaie locale équivalent à 300 000 euros. C’est une Institution de Microfinance Sociale qui grâce à ses services de microcrédit, d’épargne et de formation, et à sa vision sociale très innovante, aide des milliers de familles à sortir durablement de la précarité. Elle a notamment développé une méthodologie de groupe sans caution solidaire et offre une subvention aux familles bénéficiaires pour souscrire au système national d’assurance santé. A ce jour l’institution compte plus de 10 000 emprunteurs dont 92% de femmes.

Advans Ghana pour sa part a bénéficié d’un prêt en monnaie locale équivalent à 2 millions d’euros. C’est une institution financière qui offre aux PME ghanéennes, aux microentrepreneurs et aux particuliers la possibilité de développer leur activité et d’améliorer leur niveau de vie grâce à des services financiers accessibles. A ce jour, l’institution compte près de 14 000 clients dont 62% de femmes.

Sinapi Aba Savings and Loans est une institution financière non bancaire qui propose divers produits de prêt et d’épargne. Sa mission est d’être une pépinière qui offre des opportunités de développement entrepreneurial et de génération de revenus aux personnes économiquement défavorisées qui peuvent ainsi améliorer leurs conditions de vie. A ce jour, l’institution qui a reçu un prêt en monnaie locale équivalent à 930 000 euros, compte plus de 145 000 emprunteurs actifs dont environ 80% de femmes et 90% en zone rurale.

Pour plus d’informations sur nos partenaires, cliquez here.

Foundation invests in ID Ghana following SAM

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By MicroCapital

© Didier Gentilhomme

The majority of the Foundation's 76 partners are located in sub-Saharan Africa and "SAM is the best place to meet existing and potential partners." […] It also provides an incredible opportunity to bring together the Foundation's partners.

Philippe Guichandut, Directeur développement de la finance inclusive à la Fondation Grameen Crédit Agricole, a été présent lors des trois SAM. La majorité des 76 partenaires de la fondation se trouve en Afrique subsaharienne et Philippe Guichandut a constaté que la « SAM est le meilleur endroit pour rencontrer nos partenaires actuels et potentiels ». Il ajoute: « Autour de la SAM, nous saisissons toujours l’occasion de réunir nos partenaires, ce qui est le meilleur moyen d’échanger des expériences entre nos partenaires et de leur donner l’occasion d’assister à des sessions de formation organisées par nous-mêmes ou par la SAM ».

Diriger et assister à des ateliers à la SAM a été essentiel pour l’équipe de Philippe Guichandut afin de « partager notre propre expérience et promouvoir des sujets qui nous intéressent, en particulier dans les domaines de l’agro-microassurance et du financement agricole.» Par exemple, lors de la SAM qui s’est tenue en Éthiopie en 2017, la Fondation a organisé une visite de terrain pour faire découvrir à 11 IMF l’initiative R4 Rural Resilience, un projet de microassurance agroalimentaire du Programme alimentaire mondial et d’Oxfam America. Les participants ont visité Africa Insurance, Nyala Insurance, la microbanque DECIS et deux ONG locales, ORDA et REST.

Philippe Guichandut a ajouté que « le salon des investisseurs de la SAM est également un excellent moyen de rencontrer de nouveaux partenaires potentiels et de mieux comprendre les différents types d’IMF susceptibles de travailler avec nous ». Par exemple, son équipe a rencontré des représentants d’ID Ghana pour: la première fois à la foire de la SAM. Cette relation a prospéré et la Fondation Grameen Credit Agricole finance aujourd’hui ID Ghana dans le cadre de la Facilité Africaine, un partenariat mise en place entre la Fondation et l’Agence française de développement.

ADA, une ONG basée à Luxembourg, co-organise la SAM tous les deux ans avec l’aide du Ministère Luxembourgeois de la coopération au développement et de l’action humanitaire. Les membres du comité directeur de la SAM sont: ADA, le ministère des Affaires étrangères et européennes du Luxembourg, le réseau des institutions africaines de microfinance, l’Association africaine de crédit agricole et rural et la Fédération des APSFD de l’Union économique et monétaire ouest-africaine. Pour plus d’informations sur la SAM, cliquez ici.

La SAM 2019 fait partie d’une série de rencontres qui montre la valeur de la SAM (Semaine Africaine de la Microfinance), une conférence majeure dédiée à l’inclusion financière en Afrique. Les trois premiers SAM ont eu lieu à Arusha, en Tanzanie, en 2013; Dakar, Sénégal, en 2015; et Addis-Abeba, en Éthiopie, en 2017. Le prochain SAM aura lieu fin octobre 2019 à Ouagadougou, au Burkina Faso!

La SAM a pour objectif d’offrir une plate-forme unifiée pour traiter les problèmes de la microfinance en Afrique en réunissant des investisseurs, des IMF, des chercheurs, des banques, des réseaux, des innovateurs, des gouvernements et autres parties prenantes. Le SAM 2017 a accueilli 700 participants de 58 pays (principalement africains), y compris des représentants de 200 IMF. 25 exposants au salon de l’innovation; et 26 investisseurs, qui ont établi 170 contacts avec des IMF lors du salon des investisseurs. La Semaine comprenait également des sessions présentées par 60 orateurs et une offre de 20 formations.

The Foundation: 10 years of action for financial inclusion and entrepreneurship

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© Philippe Lissac

2018 marked the 10th anniversary of the Grameen Crédit Agricole Foundation. Created by Crédit Agricole and Nobel Peace Prize winner Professor Yunus, the Foundation aims to contribute to the fight against poverty by promoting social impact entrepreneurship and financial inclusion. Since its inception, more than €200 million in funding has been granted to over 100 partners—microfinance institutions that then provide microloans to populations excluded from the traditional banking system and social enterprises that work with low-income people—working in 38 countries.

As of December 31, 2018, the Foundation had recorded €81 million in commitments, including €75.7 million in financing to microfinance institutions and €4.5 million in investments to social impact businesses. Sub-Saharan African countries account for 37% of these commitments. At the heart of its objectives, the Foundation promotes women's entrepreneurship and rural economies through the institutions it supports: 75% of microcredit beneficiaries are women and 79% live in rural areas.

Strong partnerships with the Crédit Agricole group

In 2018, several projects were launched in partnership with Crédit Agricole Group entities and Regional Banks. In partnership with CA Indosuez Wealth (Asset Management) and CACEIS Bank, Luxembourg Branch, the Foundation launched the Rural Inclusive Finance Fund (FIR) in 2018, a social impact investment vehicle enabling Crédit Agricole Group entities to invest in microfinance. The FIR, for which the Foundation has an exclusive advisory mandate, provides financing to microfinance institutions in rural areas. With the first two fundraising rounds in September and December 2018, the participation of 15 Regional Banks of Crédit Agricole, Amundi, and Crédit Agricole Assurances was confirmed for an additional amount of nearly €8 million.

In collaboration with Crédit Agricole Group entities, the Foundation has established a skills volunteer program called "Solidarity Bankers," offering technical assistance missions to Group employees on behalf of the Foundation's partners. Three missions were carried out in Burkina Faso, Senegal, and Cambodia in 2018. Three new missions are being prepared for launch in the first half of 2019 in Morocco, Kazakhstan, and Haiti.

2018 was also the year of preparation for the Foundation's 2019-2023 strategic plan. Strengthening its offering to microfinance institutions, promoting the development of rural economies, and developing partnerships with the Crédit Agricole Group will be at the heart of the Foundation's actions in the coming years.

The Foundation works for inclusive finance in Africa

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By Mathilde Thonon and Flora Helard, In-Venture

© In venture

In Benin, more than half of the population lives in rural areas, far from the cities where most traditional banking services are concentrated. To address financial exclusion, microfinance institutions such as RENACA and ACFB have emerged across the country.

For many Beninese, it is difficult to both save and take out a loan. Lacking sufficient income and collateral, rural dwellers, as well as women and young workers, often find themselves deprived of financing that could help them start a business and contribute to Benin's economy. To address the exclusion of these populations, microfinance institutions such as RENACA and ACFB have emerged across the country.

The Grameen Crédit Agricole Foundation, a committed player in inclusive finance in rural areas, supports RENACA and ACFB in their mission to promote financial inclusion and entrepreneurship in Benin. Through its financial and technical support, the Foundation helps "restore hope to communities and lift populations out of a situation of vulnerability," explains Dieudonné Gnanvo, Director of RENACA. By offering savings, credit, and insurance products tailored to disadvantaged populations, microfinance institutions present an alternative to traditional banks and promote more inclusive and sustainable finance.

RENACA and ACFB, partners committed to the field

Founded in 2008, the National Network of Village and Self-Managed Credit Unions (RENACA) is one of the most active microfinance institutions in Benin. Since 2012, the Foundation has supported this mutual network, which has nearly 145,000 member clients, including 60% women. Present in 6 of the country's 12 regions, RENACA offers its clients individual and group loans and non-financial services such as training in personal and professional financial management. RENACA's social performance is an indicator of success, just as much as its financial performance. The institution places great importance on its customer relations and regularly monitors its contractors to ensure their gradual and sustainable exit from economic insecurity.

The Association of Grassroots Financing Funds (ACFB) emerged from a research and action NGO promoting development agriculture, which originally provided subsidies to women to help them start businesses. To sustain its impact, the NGO opted for microfinance over subsidies and gave way to the ACFB in 2004, which is now present in 44 of the country's 117 municipalities. Since 2016, the Foundation has supported the ACFB in its mission to promote women's entrepreneurship and the economic inclusion of local communities.

Modeled after Nobel Peace Prize winner Muhammad Yunus's Grameen Bank, ACFB specializes in group lending. This allows people without individual guarantees to borrow, since in exchange, the group must commit to repaying if one of its members is unable to do so. The mechanism thus draws its effectiveness from the bonds of trust and solidarity that exist between members, which encourage repayment: ACFB currently has a repayment rate of around 1,00%.

Promoting inclusive finance in Africa: a priority

The trusting and close relationships with clients, fostered by the establishment of numerous branches throughout the country, are also at the root of the success of ACFB and RENACA, which together have helped hundreds of thousands of Beninese secure a better future. With the support of the Grameen Crédit Agricole Foundation, the two microfinance institutions have enabled the development of numerous sustainable economic activities in sectors such as agriculture, access to water, renewable energy, crafts, and education in rural areas.

The Foundation works to develop inclusive finance beyond Benin's borders. Today, it focuses 35% of its commitments in sub-Saharan Africa and is present in a dozen African countries. Africa will continue to be a priority for the Foundation, which will focus 45% of its commitments on the continent by 2022.

Solidarity Banker missions to be filled in Kazakhstan and Haiti

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© Didier Gentilhomme

Banquier solidaires est un nouveau type de mission de volontariat à l’étranger proposé aux collaborateurs pour le compte d’institutions de microfinance ou d’entreprises de type « social business », partenaires de la Fondation Grameen Crédit Agricole. Deux missions sont à pourvoir : une sur la thématique « Prêts agricoles » au Kazakhstan et une mission « Business model » en Haïti.

The missions to be filled

La première mission à réaliser en 2019 sera en faveur de KMF au Kazakhstan. KMF est la principale institution de microfinance au Kazakhstan avec plus de 220 000 emprunteurs actifs et un portefeuille de plus de 250 millions d’euros. L’institution souhaite développer son offre de produits et services en diversifiant son portefeuille de prêts agricoles.

The Solidarity Banker will be responsible for proposing a model for diversifying KMF's current agricultural loan portfolio through the introduction of a new product. They will also provide risk mitigation tools specific to agricultural loans. The assignment is scheduled for the first quarter of 2019.

The second mission will aim to support Palmis Enèji, a social enterprise in which the Foundation is a shareholder in Haiti. Created in 2013 as a program of the French NGO Entrepreneurs du Monde, its mission is to offer efficient, clean, and economical cooking and lighting solutions to Haitian households. It has developed a distribution network of 150 active resellers, spread across five regions of the country, who sell solar lamps and kits, improved charcoal stoves, and gas stoves.

The Solidarity Banker's mission will be to support the company in defining a five-year business plan based on its current position, market, and opportunities. They will also make recommendations for fundraising to support the growth outlined in the business plan. The date of the mission will be determined based on the selected candidate's availability.

How to apply?

Several missions are coming up on CA Solidaires. To discover them:

  • Allez sur le site CA Solidaires « Trouver sa mission »
  • Enter "Grameen Foundation" in the search bar. All Solidarity Leave offers will appear!
  • Click on the offer of your choice, you will find all the information necessary for your application.
  • More information: carolina.herrera@credit-agricole-sa.fr

Spotlight on Foundation Week

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€200 million in funding awarded, 102 partners supported, 38 countries, and more than 350 participants during the Grameen Crédit Agricole Foundation's 10th Anniversary Week. Thank you so much for celebrating with us its 10 years of work for inclusive finance and social entrepreneurship. We shared unforgettable moments that mark the beginning of a new phase. New challenges will be faced, but the Foundation will continue to adapt to meet them, to innovate by strengthening its expertise, expanding its areas of intervention, and working in partnership.

The Foundation's 10th anniversary marks a magnificent collective project, but the fight against poverty continues. This new chapter in the Foundation's history—more ambitious, more committed, and more collaborative—is only just beginning, and we are delighted to be writing it alongside you.

Relive the highlights of the Foundation Week :

The Foundation and social impact entrepreneurship: here
The Grameen Crédit Agricole Foundation’s 10th Anniversary Evening: here
Investing in Africa: myth or reality: here

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Created in 2008, under the joint leadership of Crédit Agricole SA's management and Professor Yunus, 2006 Nobel Peace Prize winner and founder of Grameen Bank, the Grameen Crédit Agricole SA Foundation is a multi-sector operator that contributes to the fight against poverty through financial inclusion and social impact entrepreneurship. As an investor, lender, technical assistance coordinator and fund advisor, the Foundation supports microfinance institutions and social enterprises in nearly 40 countries.

The Foundation's 10th Anniversary Booklet

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Ten years ago, the Foundation was created by Crédit Agricole and Professor Yunus, a pioneer in microfinance and Nobel Peace Prize winner. Ten years ago, alongside those working on the ground every day, we committed to helping build a more inclusive economy. The Foundation's anniversary is an enthusiastic reminder of the conditions of this commitment: fear no challenge, neglect no territory, and leave no one behind.

C’est pourquoi nous avons souhaité vous présenter ce livret à l’occasion des 10 ans de la Fondation. Il tire les enseignements de l’expérience devenue mature du financeur de microfinance que nous sommes. Il livre aussi des idées, des propositions et un regard sur la Banque pour continuer à agir pour le développement, pour une finance plus inclusive, responsable, plus durable.

To discover here

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Created in 2008, under the joint leadership of Crédit Agricole SA's management and Professor Yunus, 2006 Nobel Peace Prize winner and founder of Grameen Bank, the Grameen Crédit Agricole SA Foundation is a multi-sector operator that contributes to the fight against poverty through financial inclusion and social impact entrepreneurship. As an investor, lender, technical assistance coordinator and fund advisor, the Foundation supports microfinance institutions and social enterprises in nearly 40 countries.

The Foundation celebrates its 10th anniversary

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© Philippe Lissac

Le 20 novembre dernier, Crédit Agricole S.A. et la Fondation Grameen Crédit Agricole ont organisé une soirée pour marquer le dixième anniversaire de la Fondation. L’évènement a eu lieu à la Salle Wagram, à Paris, et a rassemblé près de 200 invités. Après 10 ans d’action, la Fondation et ses partenaires reafirment leur engagement pour une finance inclusive et durable.

An evening to mark the Foundation's 10th anniversary

The event, organized to mark the Foundation's tenth anniversary, brought together nearly 200 people at the Salle Wagram in Paris and provided an opportunity to celebrate the Foundation's 10th anniversary alongside its founders, directors, and partners. Foundation President Jean-Marie Sander opened the evening by recalling the Foundation's origins and how, 10 years later, with over €200 million in funding granted and 100 partners supported, the Foundation and its founders, Crédit Agricole and the Grameen Trust, continue to work together for socially responsible finance.

Eric Campos, General Delegate of the Foundation and CSR Director of Crédit Agricole SA, then reviewed the Foundation's 10 years of activity and its impact, highlighting the unique alliance between the Foundation and a banking group with mutualist roots. The evening featured two roundtable discussions and speeches by two Foundation directors: HRH the Grand Duchess of Luxembourg and Jean-Michel Severino, President of Investisseurs & Partenaires.

Women and Africa, at the heart of the Foundation's actions

The issue of women's financial inclusion, a priority for the Foundation since its inception, was the subject of the first roundtable. Soukeyna Bâ, former Minister of Senegal and administrator of the Foundation, Nejira Nali, Director of Mi Bospo, a microfinance institution supported by the Foundation in Bosnia, and Bagoré Bathily, Founder of Laiterie du Berger, a Senegalese social enterprise in which the Foundation is a shareholder, discussed the importance of women's empowerment as a lever for development. In her speech, HRH the Grand Duchess of Luxembourg also highlighted the key role of women in the microfinance and entrepreneurship sectors, calling for more active participation from stakeholders in the world of finance in the fight against poverty.

The second round table of the evening focused on the Foundation's 10 years of action and brought together Professor Muhammad Yunus, 2006 Nobel Peace Prize winner, Raphaël Appert, Managing Director of Crédit Agricole Centre-est and First Vice-President of the Fédération Nationale de Crédit Agricole, and Philippe Brassac, Managing Director of Crédit Agricole SA. The founders of the Foundation reaffirmed their commitment to multiplying the Foundation's impact and better responding to the new challenges of the fight against poverty. Jean-Michel Severino's remarks then focused on development issues in Africa and the prospects for the inclusive finance sector in this diverse continent.

2019-2022: An ambitious action plan for greater impact

Digital transformation, ecological transition, and the structuring of agricultural sectors will be at the heart of the Foundation's actions over the next four years. With a target of €160 million in funding by 2022, the Foundation will continue to adapt by strengthening its expertise, expanding its areas of intervention, and working in partnership. This was the message delivered by Jean-Marie Sander in his closing speech, which was followed by a performance by the Phare Circus, a social enterprise in Cambodia in which the Foundation is a shareholder.

The Foundation's 10th anniversary marks the beginning of a magnificent, collective project. A new chapter in the Foundation's history—one that is collective, ambitious, and committed—has just begun.

Investing in Africa: myth or reality

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Pour clôturer « La Semaine de la Fondation Grameen Crédit Agricole », Crédit Agricole SA et la Fondation ont organisé une conférence sur le Campus de Crédit Agricole à Montrouge sur les enjeux et opportunités d’investir en Afrique. Trois invités exceptionnels ont échangé leurs regards sur ce continent pluriel.

Aux côtés du groupe Crédit Agricole, la Fondation Grameen Crédit Agricole s’engage depuis 10 ans dans la promotion de la finance inclusive et de l’entrepreneuriat à impact social. Pour marquer ses 10 ans d’action collective, Crédit Agricole SA et la Fondation ont organisé « La Semaine de la Fondation Grameen Crédit Agricole ».

La rencontre « Investir en Afrique : mythe ou réalité » a clôturé la semaine le 22 novembre. Peut-on porter un regard sur notre avenir en ignorant le continent africain ? Nos trois invités exceptionnels ont apporté leur regard sur ce continent pluriel, ses défis, ses enjeux et sur ses potentialités d’investissement, en partageant avec les nombreux assistants leur regard d’experts et leur expérience personnelle de ce continent.

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Created in 2008, under the joint leadership of Crédit Agricole SA's management and Professor Yunus, 2006 Nobel Peace Prize winner and founder of Grameen Bank, the Grameen Crédit Agricole SA Foundation is a multi-sector operator that contributes to the fight against poverty through financial inclusion and social impact entrepreneurship. As an investor, lender, technical assistance coordinator and fund advisor, the Foundation supports microfinance institutions and social enterprises in nearly 40 countries.

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