Hanadi TUTUNJI's speech at European Microfinance Week 2024
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 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
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 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.
Mission of the Foundation's administrators to Senegal
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.
2024 Impact Finance Barometer Published
The Foundation contributed and supported as a partner, the fourth edition of the Impact Finance Barometer, unveiled during the 16th 3Zeros World Forum on September 17, 2022, in the presence of Edouard Sers, Risk and Impact Director of the Foundation.
This publication offers the latest trends and key figures in the impact investing and financial inclusion sector, and provides concrete examples of its operational capabilities on a global scale. Coordinated by Convergences, this barometer of impact finance 2024 is the result of a collective effort bringing together contributions from several organizations: Ring Capital, Taméo, FAIR, ATLAS, e-MFP, HEC Innovation & Entrepreneurship Institute, CERISE+SPTF and Green Finance.
As part of this special report entitled "Impact finance, a lever for a just and inclusive transition", the Foundation has proposed an article revealing innovative initiatives in the face of socio-political risks in financial inclusion in West and Central Africa, collected during a workshop organized at the African Microfinance Week in October 2023.
Edouard Sers and other speakers participated in a roundtable discussion. They addressed several central questions and shared their experiences:
How to integrate sociopolitical risks into financial inclusion? SSE and financing in France: why is it so difficult to raise funds? How can we ensure that social performance is at the heart of all financing activities?
How to inform and engage impact investors in key sectors.
Download the Barometer by clicking here.
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Source: Convergences
Grameen Crédit Agricole Foundation and Proparco strengthen their partnership
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.
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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
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.