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.

The Grameen Crédit Agricole Foundation participated as a co-funder in 60-Decibels' first microfinance index. The list of the best-performing institutions in 2022 was recently unveiled. Five of the Foundation's partners are included in this ranking:

Top 10 best-performing MFIs:
ACEP Burkina Faso
Advans Ivory Coast
LAPO Sierra Leone

Top 3 best performing MFIs in Africa:
LAPO Sierra Leone
ECLOF Kenya

Top 3 Best Performing MFIs in Asia:
Annapurna

Of the 72 institutions studied in 41 different countries, these MFIs achieved the best results in all categories of the index: Access, Business Impact, Household Impact, Client Protection, and Resilience. The Foundation welcomes these excellent performances and congratulates ACEP Burkina Faso, Advans Ivory Coast, Lapo, Eclof Kenya And Annapurna which are identified among the most influential MFIs. A wonderful recognition for all stakeholders who have contributed to the growth of social impact and fostering a more human customer relationship.

Alongside its partners, the Foundation's funding, granted mainly to small institutions located in rural areas and reinforced by our technical assistance mechanisms, helps strengthen support for local economies.

18,000 clients of 72 microfinance institutions in 42 countries were surveyed to measure microfinance outcomes.

Read the full ranking on the 60-Decibels site.

Thursday, April 6, a delegation of members of the European Parliament and the European Investment Bank (EIB) on a visit to Kenya came to see how the EIB supports investments in 60 high-impact projects in the country. The MEPs visited the site of one of the high-impact projects: Green, Ltd, a social enterprise specializing in the export of fresh fruits and vegetables, located in Kathome and of which the Grameen Crédit Agricole Foundation has been a shareholder since 2016.

"We are very satisfied with the work and the impact that EU and EIB funding is having on the ground. […] We look forward to the continued partnership between the EU and Kenya." Irene Giribaldi, Head of Delegation.

Vert Ltd's social mission is aligned with the EIB's policy and objective: to transform rural life and foster economic development.

“We support a base of over 5,000 smallholder farmers across the country, from whom we source fresh fruit and produce, which is then primarily exported to the European market. The funding we received enabled us to increase the amount of mangoes we purchased from smallholders, creating and supporting 95 permanent jobs and over 300 temporary jobs during peak seasons, as well as countless other indirect jobs throughout the chain. I am just one example of many businesses that have grown or expanded thanks to EIB funding,” said Jane Maina, Managing Director of Vert Ltd.

Watch the Citizen TV Kenya report:

Vert, Ltd., founded in 2000, has established a sustainable model by working directly with small local farmers organized into small groups. Vert Ltd. significantly increases their income and provides opportunities to diversify their production, while fostering stable outlets for export or local markets.

The Grameen Crédit Agricole Foundation facilitates the emergence of more inclusive and resilient agricultural value chains by investing in agribusiness with high social impact.

To learn more about Vert Ltd, click here.