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.

2 new partners in India, Mitrata and Light

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The Grameen Crédit Agricole Foundation continued its investments in Asia in the second half of 2023 with the signing of two new partnerships in India, where it has two new partners.

Mitrata Inclusive Financial Services Private Limited started as an NGO program in 2010. The microfinance institution was founded in 2017 by Dr. Aqueel Ahmed Khan and Mr. Prabhakar Rawat. The MFI focuses on lending to SMEs, driven by the belief that commercial enterprises are the backbone of the country's economy. Mitrata's promise is to provide rural women with accessible, transparent, and appropriate financial and non-financial services to facilitate their economic empowerment.

The Grameen Crédit Agricole Foundation has granted Mitrata its first loan, amounting to €1.5 million in local currency over a four-year period. To date, the MFI manages a portfolio of €27 million and has 109,000 clients, including 1,001 women. 231 of these are taking out their first loan.

The Foundation also secured initial funding of an amount equivalent to 2 million euros from the Indian microfinance institution Light.

Light's goal is to develop financial products and deploy technology in innovative ways to deliver a reliable customer experience. Light Microfinance serves rural and peri-urban areas, with a particular focus on vulnerable women. To date, the institution has nearly 426,000 clients, including 1,001,300 women. Of Light's total clientele, 841,300 are in urban areas.

With these new loans, the Foundation now has 16 partners in South Asia, including 5 in India.

For more information on Foundation partners, click here.

 

The Foundation invests in a new country, Tanzania

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During 2023, the Grameen Crédit Agricole Foundation made new investments in a new country in Sub-Saharan Africa: Tanzania. She thus financed the microfinance institution VisionFund Tanzania, for an equivalent amount of 2 million euros. VisionFund Tanzania's mission is to provide a better future for children by empowering families to create income and jobs and unlocking the economic potential of communities.

This MFI is committed to developing the microfinance sector in Tanzania based on best practices in microfinance and to strengthening the sector with a view to developing a credit culture.

To date, the institution has nearly 40,440 clients, including 59% women. This clientele is located in rural areas.

 

2 Foundation partners honored in the 2023 microfinance index

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When defining its impact model in 2019, the Foundation set itself the goal of improving the living conditions of vulnerable populations. To measure the achievement of this objective, the Foundation needed to collect data on the ground, directly from its partners' clients.

In 2022, the Foundation contributed to the first microfinance index created by 60-Decibels, a company specializing in social impact measurement, which surveyed nearly 18,000 clients of 72 microfinance institutions in 41 countries that year.

In 2023, 60-Decibels expanded its index coverage by surveying more than 30,000 clients from nearly 110 MFIs across 30 countries. This year, the Foundation once again contributed to the index by co-financing eight impact studies to expand the number of partners it engages with on the theme of impact and contribute to a particularly innovative and promising initiative for the sector to improve its impact.

What results in 2023?

  • Clients continue to access microcredit for the first time;
  • Customers who use their loans for business purposes (rather than consumption) report better outcomes for their households and businesses;
  • There is a repayment burden, which has an impact on individuals and households. This last point reminds us of the importance of having institutions that are committed to applying customer protection standards, such as microfinance institutions committed to the customer protection path.

The Foundation's partners are on average outperforming the 2023 benchmark (well done to them!) and some are even champions in their region (MLF Zambia in Africa and Humo in Asia).

The Foundation has therefore decided to engage, in collaboration with the other co-financiers (Global Partnerships, SIDI, Symbiotics, Gojo, Triodos, Triple Jump, Baobab Group, VisionFund International), discussions with each MFI on the results in order to support them in taking action. Most MFIs plan to communicate the results (internally and externally), to deepen customer surveys to explore the findings that have interested them, or to improve communication in branches.

The Foundation hopes to continue its collaboration with its partners and 60-Decibels in the coming years to continue to engage its partners in measuring results, so that they can improve their products and services through customer feedback.

To discover the full report, Click here

For the 15th anniversary, 4 of our partners sent a message

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During the SAT 2023, in Lomé, Togo, we were able to meet different partners.

Strong partnerships are built on mutual trust, meaningful collaboration, and shared experiences. With that in mind, we're excited to share the inspiring voices and stories of our partners. Discover these captivating stories celebrating several years of shared journeys.

Discover the one from Kaba Moise Senghor, Managing Director of VisionFund Senegal, a microfinance institution located in Senegal

VisionFund Senegal is a microfinance institution founded by World Vision International whose mission is to facilitate access to local financial services for rural and vulnerable populations, the opportunity to launch or develop income-generating activities, and, in general, the possibility of improving their living conditions. @VisionFund Senegal primarily targets women micro-entrepreneurs, using the group lending methodology.

VisionFund Senegal has 58,895 beneficiaries, including 98% women and 74% in rural areas, as of September 2023.

 

Mariama Yvette Moudraogo, Vice-President of the Management Board of GRAINE, a microfinance institution located in Burkina Faso.

GRAINE SARL is a microfinance institution founded in 2006 and initiated by Catholic Relief Services (CRS). Its mission is to help improve the economic and social conditions of poor populations in Burkina Faso, primarily women living in rural areas, by providing them with appropriate financial services.

GRAINE SARL has 100,549 beneficiaries in October 2023, including 62,3% women and 60% in rural areas.

 

Aloïse Aly Ndiaye, Deputy Director General of CAURIE MicroFinance, a microfinance institution located in Senegal and one of the Foundation's oldest partners, since 2009 

Caurie makes a lasting contribution to the economic and social advancement of vulnerable micro-entrepreneurs, mainly women, by offering them appropriate financial products and services.

CAURIE has 72,502 beneficiaries including 83% women and 62% in rural areas, in September 2023.

 

Razack Dimon Challa, Head of the Activities Coordination Service at RENACA, an institution located in Benin

RENACA aims to strengthen the entrepreneurial economic activity of vulnerable rural and urban populations by providing them with financial and non-financial services. The institution encourages its members to save, with these deposits serving to fund a common fund, which provides a basis for granting loans to small producers.

RENACA has 55,423 beneficiaries, including 60% women and 40% from rural areas.

 

To learn more about the organizations we support, Click here 

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