A look back in pictures: celebrating the Foundation’s 15th anniversary

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On November 28, 2023, Crédit Agricole SA and the Grameen Crédit Agricole Foundation celebrated the fifteenth anniversary of the Foundation by organizing a Night of Inclusion at the Philanthro-Lab in Paris, and brought together 150 guests. After 15 years of action, the Foundation and its co-founders reaffirmed their commitment to inclusive and sustainable finance, alongside the Foundation's directors and partners. Foundation President Raphaël Appert opened the evening by recalling the Foundation's origins and taking stock of these 15 years.

The evening was introduced by Raphaël Appert, President, and Véronique Faujour, General Delegate of the Grameen Crédit Agricole Foundation.

Véronique Faujour, the Foundation's Executive Director, then unveiled the Foundation's ambitions and its roadmap for at least the next 15 years. The evening then focused on the theme of inclusion, with various speakers:

Professor Muhammad Yunus, founder of Grameen Bank and member of the Board of Directors ofThe Grameen Crédit Agricole Foundation and Bertrand Badré, Managing Partner and founder of Blue like an Orange Sustainable Capital and Yann Arthus Bertrand spoke to provide the context for inclusion.

 

Medha Wilson, Managing Director of the MicroLoan UK Foundation, a partner of the Foundation, and Frédérique Bedos, journalist and filmmaker, spoke respectively to explain how financial inclusion and support for small farmers in Zambia, Zimbabwe, and Malawi is being implemented on the ground and how to improve the inclusion of women entrepreneurs.

Matthew Tordeur, adventurer and speaker, member of the Society of French Explorers, concluded the conference.

A graphic facilitator summarized the various interventions live in drawings.

And finally, clown analysts livened up the evening!

Discover the film that was shown at the opening of the conference and which takes stock of the 15 years of the Grameen Crédit Agricole Foundation.

THE FOUNDATION: 15 YEARS OF ACTION FOR FINANCIAL INCLUSION AND ENTREPRENEURSHIP

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For 15 years, the Grameen Crédit Agricole Foundation has contributed to the fight against poverty and inequality through financial inclusion, particularly for women and in rural areas of some of the most fragile countries. It provides long-term support to microfinance institutions and social impact businesses through a comprehensive relationship with each partner, with financing through loans or guarantees, technical assistance missions, equity investments, and as an investment fund advisor.

As of the end of September 2023, the Foundation was operating in 37 countries, 79 partners were supported including 69 microfinance institutions And 10 impact companies with an outstanding amount of 87.8 million Euros.

The Foundation was born from the meeting of two cultures

The Grameen Crédit Agricole Foundation emerged from the Crédit Agricole cooperative movement, which financed French farmers, to whom no one lent in the 19th century. The Foundation embodies Professor Yunus's vision that lending to the poor creates jobs and generates sustainable income for the benefit of all. This is microcredit, born in the late 1970s in Bangladesh. Professor Yunus's Grameen Trust and the Crédit Agricole Group are driven by a shared mission: to provide access to essential financial services to those excluded from the traditional financial system, particularly women, in rural areas so that they can develop their own businesses and in the most vulnerable countries.

The Foundation stands out by operating in difficult areas excluded from financial services, with unstable geopolitical and economic contexts (in the Sahel region, for example), and by supporting its partners over the long term. Over the past 15 years, the Foundation has established a socially responsible partnership.

The reality of borrowing customers

Microfinance positively impacts clients' decision-making power, empowers women entrepreneurs, and strengthens their overall socioeconomic status. All stakeholders are working to continuously support them, but they face current challenges: difficulties encountered due to rising risks for microfinance institutions and clients (over-indebtedness), the difficulty of measuring impact, limited job creation, and climate change.

Grameen Crédit Agricole Foundation’s 2025 Ambitions.

  • Supporting its partners' digital transformation and adaptation to climate change through comprehensive advice.
  • Promote entrepreneurship, with priority given to women, and support small agricultural producers to address the challenges of digital transformations and adaptation to climate change.

 Five key dates

2009 : The Foundation grants a first loan from the Foundation in Kosovo to the microfinance institution KRK, in the amount of 2 million Euros

2010 : First stake in a social business company – La Laiterie du Berger in Senegal – for an amount of 200 million CFA francs (€305,000).

2012 India: 1st 1-week study tour on index microinsurance with 23 participants from 4 continents and 12 countries representing various professional backgrounds: regulators, insurers, managers of microfinance institutions, private foundations, donors.

2013 Establishment of a first technical assistance program, "the African Facility," intended to help small microfinance institutions in Africa, in collaboration with the French Development Agency

2018 Launch of the “Solidarity Banker” program with Crédit Agricole SA, which offers technical assistance missions to Crédit Agricole Group employees on behalf of the Foundation’s partners.

2020 : At the initiative of the Foundation, an international coalition of 30 organizations was created to support microfinance institutions and their clients in the face of the economic crisis caused by Covid-19.

Partnership with the Lhoft Foundation

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The Foundation's new strategic directions, Ambitions 2025, aim, among other things, to develop new collaborations and synergies with fintech players. Spotlight on a new partnership signed between the Lhoft Foundation, a FinTech foundation in Luxembourg, and the Grameen Crédit Agricole Foundation dedicated to supporting innovation and the startup ecosystem in Africa.

Concretely:

1) The Grameen Credit Agricole Foundation supported the LHoFT Foundation by participating in the startup acceleration program, focused on financial inclusion in Africa, namely " Catapult: Inclusion Africa » which took place during the African Microfinance Week from October 16 to 20, 2023 in Lomé, Togo. 10 participants from African fintech participated in this 6e edition, the first conducted in French. The bootcamp lasted 5 days and was rich in mentoring sessions to refine strategy, improve operational efficiency, and amplify the social impact of the entrepreneurs' projects.

Philippe Guichandut, Director of Technical Assistance and Partnerships, and Khady Fall, Investment Officer for Africa, were among the mentors. They shared their expertise and knowledge on Monday, October 16, to help candidates develop their pitches and challenge them.

A pitch session took place on October 19, where each participant had 5 minutes to present their innovative solutions, followed by a 2-minute interactive question-and-answer session with a separate panel of judges.

Congratulations to the Cameroonian startup COVA AFRICA, which won the sixth edition of Catapult. Insurtech Cova Africa offers innovative digital solutions to market tailor-made insurance products in Cameroon and French-speaking Africa.

Catapult Program Closing Dinner

2) For its part, the LHoFT Foundation is committed to supporting the Grameen Credit Agricole Foundation in better understanding, integrating and connecting with innovative players in the Luxembourg financial ecosystem and facilitating new mutual collaborations to support innovations in Africa and achieve inclusion objectives.

Link to the Lhoft Foundation

 

 

Increased activity in Central Europe.

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In the second half of 2023, the Foundation strengthened its position in Central Europe with the granting of a new loan to a partner in Georgia.

In Georgia, the Foundation granted a new loan to Lazika in local currency equivalent to 1,030,000 euros. A partner since 2017, this microfinance institution seeks to "stimulate the legalization and institutionalization of entrepreneurship, particularly in rural areas, with a high concentration of informal income-generating activities and bridges that segment to SME standards"... It works mainly in rural areas and has 48% women among its 22,000 clients.

With this new loan, the Foundation strengthens its presence in Central Asia, which represents 18,% of the total outstanding amount monitored by the Foundation at the end of July 2023.

To learn more about our partners, Click here.

 

THE GRAMEEN CREDIT AGRICOLE FOUNDATION PARTICIPATES IN THE AFRICAN MICROFINANCE WEEK 2023

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SAM is an event biennial 5-day event dedicated to the development of financial inclusion in Africa. The 6th edition will take place in Lomé, Togo from October 16 to 20, 2023 at the International Conference Center (CIC) and the February 2 Hotel

 

The calendar

Several members of the Foundation will speak at conferences and workshops

On Monday, October 16, a 1er A workshop organized by the Foundation on BCAO regulations will take place, followed by a second workshop on analyzing the rise in security risks in the Sahel with Edouard Sers, Director of Risk, Compliance and Impact at the Foundation.

Véronique Faujour, General Delegate of the Foundation and Secretary General of Crédit Agricole SA, will speak on Wednesday, October 18, at the Closing Plenary Session – From Awareness to Action: Lessons from the SAM

Khady Fall will be present at the Investors' Forum at the Foundation's stand No. 10, on Thursday 19 and Friday 20 to meet our partners.

On Friday, October 19, a field visit is organized at the IMF Assilassimé Solidarité.

Goals

The SAM conference aims to provide a platform for exchange and sharing of ideas. The 2023 edition, entitled "Towards Inclusive and Sustainable Finance," will focus on the role that inclusive finance can play not only in reducing these risks and vulnerabilities, but also in supporting the transition to a green and climate-resilient economy.

The opportunity to meet its partners

On the occasion of SAM 2023, the Foundation will meet with its African partners, notably those involved in the technical assistance program in Sub-Saharan Africa, developed since 2019 in partnership with the European Investment Bank (EIB) and the Luxembourg Government. Meetings will be organized ahead of SAM 2023 and will allow all parties involved to take stock of this mechanism, which has helped strengthen around fifteen microfinance institutions in Sub-Saharan Africa, the Foundation's priority intervention area.

 

Discover the Grameen Crédit Agricole Foundation's technical assistance programs here.

Increased activity in Sub-Saharan Africa

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In the first half of 2023, the Foundation strengthened its position in sub-Saharan Africa with the granting of two new loans to two partners in Mali and Uganda.

In Mali, the Foundation grants a new loan to Baobab Mali amounting to 2,000,000 Euros. This microfinance institution's mission is to "unlock the potential of its clients by offering them simple and easy-to-use financial services." It operates primarily in urban areas and has 41% women among its 18,643 clients.

In Uganda, the Foundation has granted a new loan to Vision Fund Uganda in local currency equivalent to 500,000 euros. A partner since 2017, this microfinance institution belongs to the Vision Fund group, the first partner to launch a specific program on the financial inclusion of refugees within the framework of financing from Swedish international cooperation (SIDA) and the UNHCR. To date, the institution serves 50,593 active borrowers (60 % women and 95 % in rural areas) and manages a portfolio of 7.5 million euros. This is the 4th loan granted by the Foundation.

With these two new loans, the Foundation is strengthening its presence in Sub-Saharan Africa, which represents 56,% of the total outstanding amount monitored by the Foundation at the end of July 2023.

To learn more about our partners, Click here.

Meeting with ACEP as part of the partnership focused on the group's digital transformation

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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 Foundation receives the award for the best international organization for inclusive finance in 2023 – Europe

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The Grameen Crédit Agricole Foundation is delighted to announce that it has been awarded Best International Organisation for Inclusive Finance – Europe 2023 at the 2023 Non-Profit Organisation Awards.International Acquisition.

This recognition reinforces our commitment to continue our mission to contribute to the fight against poverty and inequality by promoting financial inclusion and social impact entrepreneurship, empowering women entrepreneurs, encouraging collaborations and driving positive change in the entrepreneurial landscape.

All awards are based solely on merit and recognize the most deserving for their ingenuity and hard work, distinguishing them from their competitors and proving to them that they deserve recognition.

Holly Blackwood, Awards Coordinator, took the time to comment on the success of this year's winners: “Hosting the Non-Profit Organisation Awards 2023 has been a pleasure. It's been fantastic to see the diversity of organisations consistently offering help to people all over the world, and I wish them every success for the rest of 2023 – and beyond!”

Acquisition International is a monthly magazine published by AI Global Media Ltd, distributed to more than 85,000 professionals, investment, business advisors and service providers.

To learn more about all the winners.

2022 Edition of the Integrated Report

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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 

Increased activity in Eastern Europe and Central Asia.

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In the first half of 2023, the Foundation continued to consolidate its position in Eastern Europe and Central Asia with the granting of three new loans to three partners in Bosnia and Herzegovina, Kyrgyzstan and Tajikistan.

In Bosnia and Herzegovina, the Foundation grants a second loan to Mi-Bospo amounting to 2,000,000 Euros. This microfinance institution works mainly in rural areas and has 59% women among its 26,196 clients. Mi-Bospo provides access to credit and non-financial services to individuals, and in particular to women entrepreneurs.

A new loan in local currency equivalent to 700,000 euros has been granted to Oxus Tajikistan, a partner microfinance institution since 2012. Founded in 2004 by the French NGO ACTED, Oxus Tajikistan is registered as a microcredit institution and is supervised by the National Bank of Tajikistan. Its mission is to provide transparent and accountable financial services to the working poor and the unbanked. Oxus Tajikistan is committed to creating and delivering the most effective microfinance services to sustainably improve the living conditions of its clients. This is the fifth loan granted by the Foundation, strengthening its partnership with Oxus Tajikistan since 2012. To date, the institution serves 14,292 active borrowers (40 % women and 82 % in rural areas) and manages a portfolio of €16.6 million. Oxus Tajikistan operates in the eastern half of Tajikistan, from north to south, through a network of 27 sales outlets and agencies and 186 employees.

In Kyrgyzstan, the Foundation granted a new loan to Oxus Kyrgyzstan in local currency equivalent to 1.5 million Euros. A partner since 2016, this microfinance institution, founded in 2006 by the OXUS group and ACTED, is committed to providing financial services to the working poor and underbanked in Kyrgyzstan. To date, the institution served 10,895 active borrowers (56 % women and 65 % in rural areas) and managed a portfolio of 9.4 million euros. This is the 6th loan granted by the Foundation and aA technical assistance mission was carried out in October 2021.

With these 3 new loans, the Foundation strengthens its portfolio in Eastern Europe and Central Asia, which represents 29 % of the total outstanding amount monitored by the Foundation at the end of April 2023.

To learn more about our partners, Click here.

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