News feed for: Oikocredit USA

Investing in African agriculture

Fri, 24 May 2013 12:07:08 +0200

Last week Oikocredit managing director, David Woods, travelled to Tanzania and Kenya to visit current and potential Oikocredit partners. Mr Woods visited both countries in East Africa as part of Oikocredit's focus on Africa and agriculture.

With smallholder farmers among the world's most disadvantaged people, Oikocredit is looking to expand its support of the agricultural sector through the development of sustainable and long-term relationships.Oikocredit currently has € 7.6 million invested in Tanzania and € 11.5 million in Kenya.

Further diversification

Mr Woods said Oikocredit aims to diversify further. "Agriculture is increasingly important to Oikocredit and I see opportunities for us to develop our support of the sector in Africa. Meeting with agricultural enterprises in the region gave me further insight into the challenges and possibilities,” said Mr Woods.

In Africa, Oikocredit operates through two regional offices in Côte d'Ivoire and Kenya and ten country offices across the continent.

Oikocredit funds Peruvian banana farmers

Thu, 16 May 2013 11:44:50 +0200

Oikocredit partnered with Asociación de Pequeños Productores de Banano Orgánico Samán y Anexos (APPBOSA) in 2007.

We have recently approved a second credit line of US$ 150,000 for working capital, particularly to buy banana protection bags.

Established in 2003, Asociación de Pequeños Productores de Banano Orgánico Samán y Anexos (APPBOSA) is a cooperative of 317 small organic banana farmers of Samán, a region of Piura in Peru.

Fair bananas, fair working conditions

APPBOSA processes and exports fair trade, organic bananas to international markets. All employees of APPBOSA work under safe conditions and receive social benefits that meet fair trade standards.

With the annual income from fair trade, the cooperative has improved roads and cleaned water channels, benefitting the rural community.

Oikocredit USA Names Social Justice Movement Leader To a Second Term on its Board

Mon, 22 Apr 2013 14:33:12 +0200

Rev. Gary Cook brings expertise in churches’ engagement in diverse programs to Oikocredit USA’s growing board of directors

WASHINGTON, D.C. – April 22, 2013. Oikocredit USA today announced the appointment to its board of Rev. Gary Cook, a Presbyterian minister with extensive experience leading and managing social justice movements. This is Rev. Cook’s second term on the Oikocredit USA board.

As current Director of Church Relations for Bread for the World, Rev. Cook manages a diverse staff dedicated to building and strengthening relationships with over 50 church denominations and agencies and 5,000 local congregations. Their collective mission is to urge national decisionmakers to end hunger at home and abroad. Previously Rev. Cook served on the national staff of the Presbyterian Church USA, directing its relief and development programs. He was also Coordinator of the Presbyterian Hunger Program, where he instituted the Enough for Everyone Program that encourages congregations to invest in Oikocredit. The Presbyterian Church USA was a major, early investor in Oikocredit USA.

“We are delighted to welcome Gary to our board,” said Sharlene Brown, National Director of Oikocredit USA. “Gary is one of Oikocredit’s earliest supporters in the U.S., serving in the early years as Chair of the Board. His significant experience with ecumenical and interfaith groups focused on empowering low-income communities at home and abroad is very much aligned with the primary mission of Oikocredit USA. We look forward to his active participation on our board.”

“I'm very excited about returning to the Oikocredit USA board,” said Rev. Cook. “Oikocredit gives churches and individuals a chance to express their faith commitment through their investments. Credit is often a critically needed component of community development, and Oikocredit is an important source of that credit for low income communities.”

Rev. Cook has also served on the boards of Church World Service, the National Farmworker Ministry, the Super Bowl of Caring, and—before his current staff position—Bread for the World. He has provided leadership for his churches’ engagement in social justice movements such as the Sanctuary, Jubilee 2000, the Taco Bell Boycott, and fair trade initiatives. A graduate of the University of Pittsburgh and Chicago Theological Seminary, he was a pastor for congregations in Ohio and Florida.

About Oikocredit

Founded in 1975, Oikocredit is an international cooperative microfinance investment vehicle that seeks to empower the poor with credit. Today, Oikocredit is one of the world’s largest sources of private funding to the microfinance sector and a provider of credit to trade cooperatives, fair trade organizations and small-to-medium enterprises (SMEs) in the developing world. Oikocredit promotes global justice by empowering disadvantaged people with credit. It reaches more than 20 million people through 854 partners in 67 countries.

As a responsible investor, Oikocredit supports the adoption of client protection and transparent pricing principles, and encourages poverty assessment by its investees and project partners. In recognition of its strong commitment to environmental, social, and governance (ESG) standards, Oikocredit was awarded CGAP’s inaugural ESG award in October 2010. In 2011, Oikocredit joined the United Nations Principles for Investors in Inclusive Finance as an inaugural signatory, reaffirming its commitment to expanding access to affordable and responsible financial products and services for poor and vulnerable populations.

Oikocredit USA, the American affiliate, offers a variety of investment opportunities from $20 and up with a maximum return of 2 percent. Oikocredit USA distinguishes itself from socially responsible investment funds by supporting the full range of income-generating projects for and by disadvantaged people. In 2012, Oikocredit USA was recognized by Impact Assets as one of 50 top-tier impact investment funds in the world.

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For more information contact:

Leah Gage
Oikocredit USA
lgage@oikocredit.org
+1 202.728.4143

Weaving towards a better future in Uruguay

Fri, 24 May 2013 14:07:52 +0200

Since the opening of our Uruguay office in 1983, Oikocredit has worked to make financial and social impacts across the country. For the past six years, this has been made possible by our dedicated country manager, Cecilia Maroño, who works closely with each of our partners in Uruguay. We recently spoke with Cecilia to hear about the work she’s been doing in her region, particularly with the wool sector.

In Uruguay, Oikocredit finances farmers' cooperative COPAGRAN, wool processing cooperative Central Lanera Uruguaya and fair trade women's organization Manos del Uruguay, which are all part of the wool value chain. COPAGRAN collects the wool from its members and sends it to Central Lanera Uruguaya which then processes the wool and sends it to Manaos del Uruguay, which designs garments that its member, Cooperativa Artesenal Tambores (COTAM), a small rural women’s cooperative, knits and weaves.

Oikocredit finances COPAGRAN, Central Lanera Uruguaya and Manos del Uruguay. What are the advantages of financing all value chain partners in the wool sector?

"As the country manager, it makes it easier for me as I follow the wool market and therefore know the state of all the businesses. Wool is one of Uruguay's traditional products and it is strongly linked to the development of our rural areas. Also, sheep farming is typically done by Uruguay's lowest income farmers in the lower production lands. By helping these partners, Oikocredit helps the entire range of people working with wool, from the cooperative farmers of COPAGRAN, to the wool combing mill cooperative of Central Lanera Uruguaya to the rural women of COTAM that handcraft garments for Manos del Uruguay.”

You’ve worked with Oikocredit for a number of years, what have been the most rewarding moments for you as country manager?

"It's hard to summarize. I'm in contact every day with our partners and have shared many special moments with them. Some of my most special moments are landmarks, like when something we helped build is inaugurated. One inauguration which was especially touching for me was when Hospital Evangélico opened a new Pediatric Intensive Care Unit and Neonatology Unit financed by Oikocredit. This saves lives of premature babies and children.

There are also very rewarding moments when partners finish paying their loans and I give them back the titles of their properties and we lift their mortgages. It is very rewarding for our partners to finish a commitment, having paid all their obligations and having built something.

Most times, the reward comes from knowing that the work you do is good and that you work for an organization with solid moral values. It's extra special to work every day side by side with partners that trust us and appreciate all our work. It's also very rewarding to meet our investors who trust us with their own personal savings and have so much passion and confidence in what we do."

Financing Manos del Uruguay demanded a considerable amount of time and effort on your side. How would you describe Oikocredit's partnership with Manos del Uruguay?

"It has been a great joy to be able to support Manos. All of the people involved are very committed and driven, which is infectious. We started working with Manos because it had no access to the banking system. This was due to financial problems back in the 80s and also because of its low net results, as Manos tries to give as much as possible back to its artisans. I'm always in touch with Manos and it's always a thrill to visit their store and see the wonderful garments they produce."

Over-indebtedness of microfinance borrowers in Cambodia

Tue, 16 Apr 2013 15:12:55 +0200

Oikocredit, BlueOrchard Finance and Incofin IM have published the final report of their research entitled “Study on the Drivers of Over-Indebtedness of Microfinance Borrowers in Cambodia: an In-depth Investigation of Saturated Areas”.

For the past decade, thanks to a well-designed regulatory framework and the sound development of dynamic microfinance institutions (MFIs), the outreach of the Cambodian microfinance sector has grown rapidly, making it one of the most developed and mature microfinance markets in the world.

Hand in hand with local MFIs

As specialized microfinance investment fund managers Oikocredit, BlueOrchard Finance and Incofin IM are among those who have been walking hand in hand with local microfinance institutions by providing them with debt and equity financing to support their capital needs.

Aware that the industry is reaching increasing levels of service penetration, as social investors we believe that it is our responsibility to contribute to a better understanding of the situation of microfinance clients in highly penetrated areas. With this common objective, we decided to cooperate and allocate financial resources to fund research on this particular aspect.

Valuable inputs for stakeholder discussions

We hope that this study will provide valuable inputs and initiate a dialogue among stakeholders to improve our collective efforts in contributing to the development of a sustainable and healthy microfinance market in Cambodia.

The report is the result of a year-long cooperation with the Cambodian Institute of Development Study (CIDS) and the following eight leading microfinance institutions in Cambodia, without whose contribution this report would not have been possible:

Angkor Mikroheranhvatho (Kampuchea) Co. Ltd
AMRET Co. Ltd
Hattha Kaksekar Ltd
KREDIT Microfinance Institution Ltd
PRASAC MFI Ltd
Sathapana Ltd
ThaneakeaPhum (Cambodia) Ltd
VisionFund (Cambodia) Ltd

Annual report for 2012 online

Thu, 04 Apr 2013 10:47:07 +0200

Oikocredit's annual report for 2012 reflects Oikocredit’s continued strategic focus on Africa, agriculture and inclusive finance.

In 2012, Oikocredit’s loan approvals were at record levels, reaching € 234 million, up 11% from € 211 million the previous year. Investors continued to demonstrate commitment to Oikocredit, with 3,000 new investors joining the organization, taking total worldwide investors to 48,000.

In the coming years, Oikocredit will continue to focus on Africa, agriculture and inclusive finance as well expanding its social performance mentoring programme. Careful partner selection in relation to both social and financial performance will also remain a top priority for Oikocredit.

Read the annual report 2012

A Positive Year of Financial and Social Results for Oikocredit

Tue, 26 Mar 2013 17:00:25 +0100

For the full year ended 31 December 2012, social investor and worldwide cooperative, Oikocredit, recorded another positive year of social and financial results. With 854 partners across 67 countries, Oikocredit continued its strategic focus on Africa, agriculture and inclusive finance. Loan approvals were at record levels in 2012, reaching $309 million, up 11% from $279 million the previous year. New equity investments totaled $17 million of these approvals, bringing the total number of approved equity holdings to 49.

Total gross capital inflow from members increased to $81 million, up 35% from $60 million in 2011. A total of 3,000 new investors joined Oikocredit in 2012, taking total worldwide investors to 48,000. Investors will share in Oikocredit’s net result of $30.3 million, with $13.9 million proposed as dividend. Given market uncertainty in many countries, all of the remaining net result will be added to reserves to support Oikocredit’s social mission.

The development financing portfolio grew to $701 million, an increase of 2% from $687 million in 2011. This was lower than anticipated due to a weaker euro and write-offs in the Indian state of Andhra Pradesh. Despite challenges in the microfinance sector, Oikocredit remained committed to inclusive finance and continued to address certain areas within the sector, such as over-indebtedness and irresponsible pricing practices.

Committed to clients

Throughout 2012, Oikocredit remained committed to improving social performance management and supporting partners through capacity building. The needs and interests of clients remained a top priority, with the development of social performance mentoring programmes for microfinance partners and other support initiatives. During the year, Oikocredit also increased disbursement of funds for capacity building to $3.6 million, supporting over 90 initiatives with a special focus on the agricultural sector.

Focus on agriculture

As smallholder farmers are among the world’s most disadvantaged people, agriculture remained a focus area for Oikocredit during 2012. Throughout the year, Oikocredit approved $33 million in new loans to 38 agricultural partners. A total of $46 million was disbursed in loans to the sector, including support to organic farming and agricultural processing. Oikocredit aims to increase its support of the sector over the coming years.

Outlook 2013

Oikocredit will continue to focus on Africa, agriculture and inclusive finance throughout 2013. The social performance mentoring programme will be expanded to four new countries and careful partner selection in relation to both social and financial performance will also remain a top priority for Oikocredit.

Oikocredit is one of the world’s largest sources of private funding to the microfinance sector, providing credit and equity to small businesses through microfinance institutions across the developing world and directly to trade cooperatives, fair trade organizations and small-to-medium sized enterprises.

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Press contacts

Oikocredit USA
Sharlene Brown
usa@oikocredit.org
202 728 4140

A positive year of financial and social results for Oikocredit

Thu, 28 Mar 2013 15:51:36 +0100

Oikocredit recorded another positive year of social and financial results. With 854 partners across 67 countries, Oikocredit continued its strategic focus on Africa, agriculture and inclusive finance.

A total of 3,000 new investors joined Oikocredit in 2012, taking total worldwide investors to 48,000. Investors will share in Oikocredit’s net result of € 22.9 million, with € 10.5 million proposed as dividend.

Given market uncertainty in many countries, all of the remaining net result will be added to reserves to support Oikocredit’s social mission.

Oikocredit remained committed to improving social performance management and supporting partners through capacity building. The needs and interests of clients remained a top priority, with the development of social performance mentoring programmes for microfinance partners and other support initiatives.

Read the full press release

Oikocredit much appreciated in Senegal

Mon, 04 Mar 2013 17:24:14 +0100

Blanca Méndez, communications officer at Oikocredit International, talks about the 2013 study tour to Senegal. Each year we organize a study tour for investors, members and volunteers to meet local staff, partners and clients to see first-hand the opportunities and challenges involved in our work.

Why did you select Senegal for this year’s study tour?

“Oikocredit’s been operating in Senegal since 2004. Although 75% of the population work in agriculture, much of the country’s rural areas remain underserviced in terms of electricity, drinkable water, agricultural equipment and irrigation.

Oikocredit has invested almost € 22 million in Senegalese agricultural enterprises and microfinance institutions (MFIs) to provide people with access to finance to improve their lives. We have been working in Senegal for almost ten years, so this study tour is a great way to show what we have done and what challenges remain. It’s also the first time our investors are visiting the region.”

Which partners did you visit?

“After spending a few days in Dakar, we flew to Ziguinchor, in the southern region of Casamance, one of the poorest parts of the country, to visit U-IMCEC, a cooperative-based MFI with eight branches in four locations across the country. Staff told us about the enormous local demand for microfinance and introduced us to their clients.

Among others, we met with Bineta Diallo, who, despite being illiterate, runs a fabric and textiles shop employing four other women. Bineta got a loan from U-IMCEC four years ago to start her business, which has been growing ever since. The business has enabled Bineta to send her children to school and her eldest daughter to university”.

What was your personal high point of the tour?

“We visited a place in the Bignona region of southern Senegal named Kataba 1 and were greeted with music and dance by around 250 members of the Copex-Sud farmers’ cooperative. They were full of praise for Oikocredit Senegal in helping the cooperative develop. It was a great experience to meet with these people and hear how the cooperative had changed their lives.

We heard about how Oikocredit had co-founded a new company, Les Saveurs du Sud, to process mangoes for export, along with tomatoes, beans and cashews produced by the cooperative’s women’s association.

Copex-Sud’s first vice-president, Lamine Diassy, told us they trusted Oikocredit because it took the risk and also trusted them. He said he couldn’t wait to see mangoes from Les Saveurs du Sud in a Dutch supermarket this summer! Hearing those words and seeing the enthusiasm was most certainly a highlight for me.”

How do you think Oikocredit’s work can benefit as a result of the study tour?

“A study tour is not only about gathering pictures and figures; it is about understanding the circumstances and challenges of our work. Study tour participants now have a clearer picture of Oikocredit financing and the often long processes, which can take years as in the case of Les Saveurs du Sud.

I think it was also important for investors to meet our colleagues in the field. Finally, the tour has inspired the participants to promote Oikocredit among current and potential investors, so we can continue our work. In that sense, the study tour has succeeded.”

Oikocredit actively supports the Client Protection Certification Program

Thu, 28 Mar 2013 16:23:24 +0100

Social investor and worldwide cooperative Oikocredit stands behind the Smart Campaign as it rolls out the Client Protection Certification Program. Oikocredit will promote compliance with the certification standards among its microfinance partners (MFIs) with a goal of having four undergo certification within the next two years.

Oikocredit believes in monitoring the social impact of investments and that Client Protection Certification will bring additional transparency in the treatment of clients.

Oikocredit director of social performance, Ging Ledesma, said that over the past five years, the nature of investment in the microfinance sector has changed dramatically and perceived risk has increased while perceived benefit has decreased. “The need to define good performance has become even more imperative for Oikocredit as a social investor as well as for the MFIs we invest in. We are closely involved in initiatives that address this need,” Ms Ledesma said.

Oikocredit’s support for client protection and the Smart Campaign has been longstanding. It endorsed the campaign in 2008 and has sponsored staff and partner trainings in:

Cambodia
Costa Rica
India
Mexico
the Philippines
Uruguay

In 2012, over 180 Oikocredit MFI partners participated in workshops on the Client Protection Principles (CPPs) and over 50 of these have undergone self-assessments. Over the next two years, Oikocredit will collaborate with the Smart Campaign and REDCAMIF to conduct third-party client protection assessments, an important step towards certification, with more than 14 MFIs in the Central America and Caribbean region.

Additionally, Oikocredit has made inroads into incorporating client protection into its due diligence for partners. Before any institution becomes a partner, Oikocredit measures its performance against social performance criteria, including the CPPs.

While meeting the standards of care in compliance with the Smart Campaign Certification is important, Oikocredit recognizes that many financial institutions require work and assistance in improving their practices. Institutionally this is a priority, as Oikocredit works with many less established MFIs and considers it important that these MFIs receive support and capacity building.

More information

Visit http://smartcampaign.org/certification

Study Tour Senegal: "Terenga"

Fri, 08 Mar 2013 21:36:11 +0100

Stuart Krengel just returned from the 2013 Oikocredit Study Tour to Casamance, Senegal. Over the course of a week, he met Oikocredit staff and volunteers from all over the world, visited partners and connected with the end beneficiaries of Oikocredit's funds.

Its 6am and I am sitting in the Charles De Gaulle Airport in Paris, France. After 10 full days of travel in Senegal it is time to go home. A tearful goodbye was accompanied by our departure from the hotel. Some of us were staying behind to continue the adventure, and for some of us it was time to return to our respective homes. As I reflect at this early hour, I have come to the conclusion that Senegal is a special country. It makes sense that Oikocredit is operating there.

I feel very blessed to have been part of this trip. Personally and professionally I am rejuvenated. Microfinance professionals often times are separated from the work that happens “on the ground”. Most of the year, I sit behind a desk or stand behind a pulpit tens of thousands of miles away from the stories of impact that investor dollars create. This is just the nature of my job. I need to be here and people like Sambou Coly, our Senegal Director, need to be there. However, when I get the privilege to connect with my Oikocredit colleagues half way around the world, magic happens.

So with that said, I have to thank all of you that have been following my trip via this blog, Twitter and Facebook. It means so much to all us at Oikocredit USA that you care about our efforts to connect investors to the work we do. As I mentioned before it is hard to be here in the US and make an investment in work that happens so far away. Thank you for letting me be your eyes, ears and hands on this journey. I hope that at least I gave you insight into why investing in Oikocredit is truly special.

“Terenga” is a word that describes the hospitality that exudes from the Senegalese people. Now that I have experienced Terenga wholeheartedly, I invite you let me bring Terenga to you! I encourage you to contact me and book a speaking engagement. My Sundays are filling up fast, so please get in touch soon. Also if you just want to meet one-on-one I would be happy to travel to you if need be.

The offer is now on the table, I hope you take advantage of it. Again thank you for your attention and enthusiasm.

Sincerely,

Stuart Krengel
Regional Business Development Associate
Oikocredit USA
skrengel@oikocredit.org
209.969.7660

Study Tour Senegal: Too Many Mangoes, and a Memorable Celebration

Fri, 08 Mar 2013 21:36:25 +0100

Stuart Krengel is currently on location in Casamance, Senegal, participating in the 2013 Oikocredit study tour. Throughout the week, Stuart will be blogging from the field about his experiences and the impact of Oikocredit’s work in the field. Yesterday he visited COPEX, an Oikocredit mango growing cooperative partner.

Today was an amazing day. I say this with my whole heart. I have traveled to many countries in this world but I have never felt what I felt today.

We awoke early to leave our hotel in Ziguinchor early in the morning. We traveled for an hour on a rural road. The destination was Bignona to visit Cooperative Des Producteurs et Exploitants Du Sud (COPEX SUD). COPEX is a mango growing and production cooperative that has been funded by Oikocredit. The goal of the COPEX is to take local organic mangos and ship them abroad to foreign markets.

Oikocredit is deeply involved in all aspects of this project from the financing, building the business model, organizing the cooperative, and forming the partnerships in Europe for export. Not your typical lender, eh? Furthermore this area of Senegal is one of the poorest regions in West Africa, so as you can imagine, investments in such a project are a rare occurrence. However, that is what Oikocredit does. We go where others won’t.

In early 2011 Sambou Coly, Oikocredit Senegal Director, began working with COPEX to begin a project that would transform the lives of thousands of local villagers. The problem was this: although most of the villages in this region produce a bountiful harvest of mangoes each year, most of the mangoes would spoil due to the lack of sufficient storage. What’s more, the sheer amount of mangoes grown is far more than local villagers can consume. The villagers told us that 75% percent of the delicious mangoes go to waste each year.

So the question became, “What to do with the lion’s share of the mango crop in Casamance”? Sambou and Oikocredit have decided to invest 400,000 Euros in COPEX to build an infrastructure that will be able to support mango producers in Casamance. The money has gone towards building a factory with brand new machinery, including refrigeration to preserve the mangoes. We spent most of the day touring the almost finished factory.

But before we toured the factory we were greeted by the entire cooperative. It was a moment I will never forget. Drummers drummed, hands clapped, and voices sang. All the cooperative members had traveled to be there to meet our group. Some had traveled the day before and slept over in the local village. There was a ceremony in which the entire board of COPEX was introduced. They made a special presentation to Sambou to show their appreciation. I must have shaken 300 hands before the end of the day. Many of us danced with the villagers after being towed into the dance circle against our will. It was worth it.

After the ceremony we walked to the factory to tour the newly built facility. All of the equipment was there that they needed. It was by no means fancy and/or state of the art, but it was sturdy and functional. Sambou was keen to make sure that COPEX took into account the “risk of technology”. COPEX and its farmers are in a very remote part of Senegal, it is important that the equipment is easily fixable and parts can be ordered from the capital Dakar.

Overall the day was amazing. Our hearts are swelling after full day of gratitude. The COPEX project is still waiting to be finished. However, a buyer has been found for the mangoes. The buyer is based in the Netherlands and is anticipating a shipment this year of fresh and dried mangoes. Thanks to Oikocredit and the dedication of its staff on the ground, things are looking up for the disadvantaged in Casamance.

Study Tour Senegal: Who is “the Oikocredit Network”? An update from Stuart Krengel

Fri, 08 Mar 2013 21:36:42 +0100

Stuart Krengel is currently on location in Casamance, Senegal, participating in the 2013 Oikocredit study tour. Throughout the week, Stuart will be blogging from the field about his experiences and the impact of Oikocredit’s work in the field. He’s joined by Oikocredit volunteers and staff from all over the world.

I thought it may be nice for you to get an idea of team that has been assembled for this trip. In total we are 16 people, and soon we will be divided into small groups of 6 to travel to different parts of the country. My group is traveling to the city of Ziguinchor today. We are currently waiting in the airport for our flight. Ziguinchor is located in the southern part of Senegal in a region called Casamance. Like most of Senegal, Casamance is primarily Muslim. Casamance also has some of the highest poverty rates in Senegal. In my next post I will be able to go more into detail about the region since I have yet to arrive.

So now back to the team of 16.

I am the only American on this trip. My Oikocredit colleagues come from the Netherlands, England, Switzerland, France, Canada, Sweden and Germany. All the individuals I am traveling with have different roles within Oikocredit. Many of the participants are volunteers for various Support Associations. Their presence is a testament to the dedication and exceptional volunteer base that Oikocredit has worldwide.

We also have two professional photographers that are currently contracting with Oikocredit. One is a photo journalist based out of Amsterdam that has been contracted to create a new print magazine for Oikocredit International. Other members consist of Oikocredit staff, investors, and board members.

Last, but of course not least, are the representatives from Oikocredit West Africa. First we have the honor of being with Ms. Mariam Dao, Oikocredit Representative for West Africa. She is joined by her colleague Ms. Aida Gueye, Regional Capacity Builder and Social Performance Management Coordinator for West Africa. And of course Mr Sambou Coly, the Country Manager for Oikocredit Senegal. These three amazing Oikocredit representatives have been planning this trip for over two years to make sure that all who travelled here would get the most out of the experience of visiting Senegal.

Sambou is going to accompany our group to Casamance. He is essential to our trip because not only does he speak French and English, he also speaks the local language of Wolof. This is important, because most of our partners speak Wolof rather than French or English.

I better get to bed. Jet lag is a real thing. Stay tuned to learn more about Oikocredit’s role in Casamance!

Tour Around the World with Oikocredit: Senegal

Wed, 22 May 2013 14:15:48 +0200

Today, Oikocredit USA’s Stuart Krengel will be traveling to the Casamance region of Senegal to meet with Oikocredit field staff and learn more about the work our partners are doing in Senegal. Before he leaves, this installment of Tour around the World with Oikocredit will explore the Oikocredit’s investments in one of Senegal’s major economic activities – mango farming.

In the 2011 Human Development Index, Senegal was ranked 155 out of 187 countries, making it one of the least developed countries in the World. According to the World Bank, 46.7% of the population lives below the national poverty line. One of the poorest regions is Casamance, the southernmost region of the country.

Farming is a key activity of the Senegalese economy, with agriculture employing more than 70% of the labor force and accounting for about 15% of GDP. In Casamance, the main economic activity is small-scale fruit farming, specifically mangos. However, due to an overwhelmingly underdeveloped infrastructure in the region, small-scale producers are unable to gain access to national and export markets. This lack of access forces these impoverished farmers to lose out on a lucrative national market.

It is in this region that Oikocredit partner Les Saveurs du Sud operates. Through the cooperative COPEX SUD, Les Saveurs du Sud help ensure that 3,500 small mango producers of Kataba and Djinaky in Casamance are able to sell fresh and dried mango to local and international markets.

Oikocredit Senegal made an equity investment of XOF 24,000,000 (about $50,000) to help support the region’s mango farmers through Les Saveurs du Sud’s value chain approach. Additionally, Oikocredit has provided local currency loans totaling about XOF 260,000,000 (about $540,000), which have gone toward financing equipment and providing working capital for the cooperative.

Next week, follow Stuart as gains a first-hand look at the work Les Saveurs du Sud is doing to help support local mango farmers in the Casamance region of Senegal. You can read his blog from the field here or follow him live on Twitter and Facebook. You can also join us for a public webinar on Monday, February 25^th to hear more about Stuart’s experiences.

Study tour heads to Senegal in 2013

Thu, 07 Feb 2013 16:44:31 +0100

Oikocredit’s annual study tour will begin this week in the West African country of Senegal. From 9 to 17 February 16 volunteers, members and investors of Oikocredit will visit partners across Senegal.

The annual tour is designed to give Oikocredit investors the opportunity to learn more about its operations and the challenges of financing microfinance institutions (MFIs) and social enterprises, this time in urban and rural Africa. Study tour participants will meet with staff of Oikocredit and partner organisations, as well as the small entrepreneurs and end-clients who benefit from Oikocredit's support of fair finance.

Why Senegal?

Although 75% of Senegal’s population work in the agricultural sector, much of the country’s rural areas remain underserviced in terms of electricity, drinkable water, agricultural equipment and irrigation. Around half the country’s 13 million inhabitants live below the poverty line. For these reasons, Oikocredit invests in various agricultural businesses and microfinance institutions to provide people with access to finance to improve their lives.

What Oikocredit’s brought to the region

Oikocredit opened an office in the country’s capital, Dakar, in 2004. Currently, Oikocredit Senegal has a diversified portfolio totalling €5.7 million, divided into loans and credit lines for 14 partners and three equity investments in one MFI and two social enterprises. Besides providing financing, Oikocredit Senegal also promotes social performance management (SPM) among its partners and the sector in general.

Participants of the study tour will be able to visit partners of Oikocredit to see first-hand the financial and social benefits Oikocredit has brought to the region. This will include three microfinance institutions, two farmers’ cooperatives and a dairy business close to Dakar.

Oikocredit Nigeria hosts Social Performance Management awareness workshop

Thu, 28 Mar 2013 16:26:00 +0100

Oikocredit Nigeria recently held a two-day workshop in Lagos to raise awareness about Social Performance Management (SPM) practices in the microfinance sector.

With microfinance providing access to credit and financial services to over 205 million low income people worldwide, it has become a fast growing and important sector in Nigeria. However, as the sector has come under scrutiny for its practices in recent years, staff at Oikocredit Nigeria thought it was important to address several issues within the sector by holding a workshop on SPM.

Promoting social responsibility

According to country manager Nigeria, Ms Ufuoma Eghwerehe, the aim of the workshop was to promote social responsibility amongst microfinance practitioners. "This relates to profitability and interest rates, promotion and adherence of Client Protection Principles (CPPs) and encouragement of the development of SPM in Nigeria,” Ms Eghwerehe said.

The workshop was attended by around 40 microfinance institutions including representatives from the Central Bank of Nigeria, Oikocredit partners and industry stakeholders.The two-day workshop was divided into two parts, with the first day focussing mainly on microfinance practitioners.

The first day was attended by CEOs, directors and senior management of microfinance banks/institutions and regulators. Presentations were made by Oikocredit SPM specialist, Anton Simonowitz, regional SPM coordinator, Aida Gueye, country office staff and the Central Bank of Nigeria. The presentations aimed to educate microfinance stakeholders about various topics, including:

What are Client Protection Principles and how to comply with them
How to balance social and financial performance
Ways of promoting SPM within organisations
Ways to be more transparent

The second day of the workshop was specifically for partners of Oikocredit, which aimed to provide solutions and ways to strengthen SPM practices. During the day each MFI was asked to define its various social goals and review policies, procedures and measures in place to treat clients responsibly. The second day also provided a platform for brainstorming and information and strategy sharing amongst the partners.

At the end of the two day workshop, an evaluation was made on each participant’s knowledge of SPM and the results showed an overall improved understanding. Various commitments were made by partners and participants, including reducing interest rates, improving pricing transparency and collection practices, revising social goals and training current and new staff on Client Protection Principles and SPM.

Overall, the workshop proved a valuable learning tool for attendees, receiving positive feedback with requests for a follow-up workshop and also improved support for smaller MFIs and banks.

Optimism about commitments

Ms Eghwerehe said she was optimistic that commitments made by some of the participants will be followed through. “I believe we’ll see a sizeable number of participants reducing their interest rates, signing up to the Client Protection Principles & reviewing systems for compliance in the very near future,” added Ms Eghwerehe.

More information

Read our In Focus sheet on the Client Protection Principles

Kuapa Kokoo launches radio programme

Fri, 22 Mar 2013 11:24:58 +0100

How do you communicate to 65,000 members, some of whom live deep in the rainforest and can’t read or write? This has been a major challenge over recent years for Kuapa Kokoo, a fair trade partner of Oikocredit in Ghana. It seemed the best solution for the farmer’s cooperative was to take over the airwaves – just for an hour a week.

In November 2012, Kuapa Kokoo launched an eight-week radio show called 'The Hour' to communicate important issues within the cooperative and also connect current and potential members. Before the launch of the radio programme, Kuapa Kokoo relied on outreach teams to regularly visit regions to discuss local issues which were then relayed back to the main office. This was often a long and difficult process, which lacked the formation of community and connection between members.

Radio provides an open forum

With radio being a popular and accessible medium in Ghana, Kuapa Kokoo thought it would be a good way to provide an open forum to unite its members. With the help of Divine Chocolate, which Kuapa Kokoo is a shareholder of and also provides its cocoa to, the programme was developed to provide maximum appeal and value to its countrywide audience.

For one hour every week, the radio show informed members about the role of fair trade, talked about farming issues and good practice and also raised awareness about Kuapa Kokoo’s Child Labour Awareness Programme.

Keeping all members informed

The aim of the show was to ensure that members were fully informed about what Kuapa Kokoo does for farmers, aspects that set it aside from other cocoa buying companies in Ghana and the benefits of being a member. The programme was divided into various segments, with the phone-in segment being the most popular. Over the eight weeks on air, 84 callers got through during the segment and were able to share their own stories and provide feedback for other members.

New series in the making

The radio programme proved a big success in Ghana, giving people who are geographically isolated a platform to learn about the organisation, a feeling of connectedness and also a voice. Kuapa Kokoo and Divine Chocolate received a lot of positive feedback about the programme and are currently working on a new series of programmes for 2013.

Kuapa Kokoo and Divine Chocolate are both partners of Oikocredit.

Maanaveeya promotes sustainable financing for sanitation and clean water

Mon, 04 Mar 2013 15:32:55 +0100

Indian-based subsidiary of Oikocredit, Maanaveeya, recently promoted sustainable financing of safe drinking water, sanitation, solar energy and agricultural value chains in India. As less than half of India’s population have access to safe drinking water and sanitary systems and over 400 million remain without access to electricity, addressing these issues remains a key priority for Maanaveeya and its partners.

Maanaveya held a two-day workshop in the Indian city of Hyderabad to provide a platform where stakeholders could learn about available water, sanitation and electrical products across India and explore ways these can be financed. The workshop also aimed to educate attendees about the importance of supporting the agricultural sector and addressing food security in India. The workshop was attended by 68 people including representatives from the International Finance Company (IFC), 34 microfinance partners and 19 facilitating organizations.

Sustainable financing of water, sanitation and energy

During the workshop, Maanaveeya gave an update on its ‘Sustainable Financing of Water, Sanitation and Energy’ project, which was initiated in August 2011 in collaboration with the IFC. The project aims to promote a number of innovative and affordable products and services throughout India, which include:

solar light technology
water filtration devices
eco-friendly forms of sanitation

Since its formation, the project has reached out to over 23,000 clients and entered into partnerships with four MFIs to disperse INR 67.5 million (over €960,000). The presentation about the project also provided an opportunity for other microfinance institutions (MFIs) to learn about available products and services that can be offered and the experiences Maanaveeya has had throughout the project. Demonstrations were also given of products promoted by Maanaveeya and its partners which are suitable for both rural and urban areas.

Agriculture a priority for Oikocredit in India

Former managing director of Oikocredit, Mr Ben Simmes, who also attended the workshop, spoke about the importance of understanding agricultural value chains in India and supporting agricultural projects. Mr Simmes said agriculture was a priority for Oikocredit in India as food security is a growing concern in the country. “The agriculture sector is very important to the Indian population and we are glad to see that Maanaveeya has proposed to allocate more of its portfolio towards supporting agricultural value chains,” said Mr Simmes. During the workshop, various agriculture project stories were shared to encourage MFIs to promote and support agricultural initiatives across India.

Sharing knowledge

Overall the workshop provided a platform for representatives to share information and products, meet with various other organizations and discuss ways to improve standards of living. The workshop also enabled Maanaveeya and its partners to share their experiences from various projects and discuss ways that other MFIs could support similar initiatives. After the workshop many of the participants said they had a better understanding of products and services available and the impact these can have on people’s lives.

David Woods to start as managing director in January

Mon, 04 Mar 2013 15:42:33 +0100

On 1 January 2013 Mr David Woods will begin as managing director of Oikocredit, replacing the retiring Ben Simmes. Mr Woods brings extensive international business and leadership experience to Oikocredit.

Mr Woods started his career at Royal Bank of Canada, before joining Dutch based financial institution, ABN AMRO, where he worked for twenty years. His roles with ABN AMRO included global head of e-commerce for financial markets and COO/CFO for the Middle East.

Before joining Oikocredit, Mr Woods held leadership positions in various financial organizations in the United Arab Emirates, including CEO of a regional investment bank.

More information

Read the official press release

Interview: From one managing director to another

Thu, 28 Mar 2013 16:32:52 +0100

As 2013 will see the retirement of Mr Ben Simmes and the start for Mr David Woods, we asked the outgoing and incoming managing directors to interview one another. Having worked with Oikocredit for over 16 years, Mr Simmes asks Mr Woods where he sees it positioned in the future and reflects on his time with the organisation. In turn, Mr Woods talks about what he’ll bring to the organisation and asks for any advice for the years to come.

Ben to David - What in particular about Oikocredit made you decide to apply for the position as managing director?

“I thought Oikocredit would be a very interesting organisation to work with. I wanted something different from ‘banking as usual’ and this seemed to combine being able to use my experience, while learning all about cooperatives, microfinance, and managing an organization with social goals.”

Ben to David – What do you feel you’ll bring to Oikocredit and its partners?

“I think my experience working with diverse products in different cultures and markets and with organisations that have often been in transition, both small and large, will benefit Oikocredit. The markets in which we operate are becoming steadily more regulated and that’s an environment I understand – it’s important we create the discipline and professionalism today’s situations require, without taking away the spirit and enthusiasm that has made Oikocredit the powerful social advocate it is today.”

Ben to David – What do you think the future holds for development finance?

“In the long term, I think development finance will continue to play an important role in helping disadvantaged people in developing economies improve their living standards and strive toward a brighter future for their families. But I think in the next year or two we’ll face a more challenging market situation as there are more competitors than a few years ago, and microfinance attracts more critical comment than it used to – so we have work to do on both sides of our balance sheet, as potential borrowers and investors all have choices and alternatives. I’m convinced Oikocredit will remain one of the strongest social and ethical organisations in the business, continuing to diversify its current areas of investment.”

David to Ben – What were the biggest changes you experienced over the past sixteen years?

“A year or so ago, I asked one of the ‘founding fathers’ if he still recognised Oikocredit, and he replied ‘yes’. He said over the years, Oikocredit had become much more professional in all areas of its work, but without losing its mission and values - these still hold true. This is also my observation. The professionalism has grown on all sides of our organisation, in all countries in which we operate. I believe Oikocredit stands out because it is very sincere in the implementation of its mission.”

David to Ben – In your opinion, what has made Oikocredit the respected cooperative it is today?

“Joint ownership is one of the unique features of a cooperative. What characterizes Oikocredit all the more is its true international representation on all levels: members, volunteers, board, staff and partners. This means that our policies and the way we work are influenced by values and opinions of people from every corner of the globe, rich and poor, young and old. This is not always easy but Oikocredit continues to challenge itself on all levels.”

David to Ben – You have been with Oikocredit for a long time. What advice could you give me as the incoming managing director of Oikocredit?

“Treasure the knowledge and insights that exist on all levels in the organisation, as well as the tremendous commitment to the mission of Oikocredit. Listen, observe, challenge and engage in dialogue to bring insights and opinions that exist within the cooperative together. You’ll be expected to know what’s happening out in the world such as trends, threats and opportunities, which you should also bring into the decision making processes. As a true ambassador of a cooperative like Oikocredit, you’ll be valued for your expertise, skills to facilitate decision making, support and encouragement of staff and volunteers and your commitment to uphold Oikocredit’s special mission.”

Oikocredit to open office in Canada

Thu, 28 Mar 2013 16:41:21 +0100

Oikocredit will expand its international network in 2013 to open a national office in Toronto, Canada.

Mr Eugene Ellmen has been appointed National Director Oikocredit Canada, effective from 21 January 2013.

Mr Ellmen has a background in social investment, working for the past 13 years as executive director to Canadian-based, Social Investment Organization.

Director Investor Relations at Oikocredit International, Ms Ylse van der Schoot, said a Canadian office with a national representative would provide more opportunities to profile Oikocredit country-wide in Canada.

Many opportunities for Oikocredit in Canada

“We see many opportunities for Oikocredit in Canada and are pleased to have someone of Mr Ellmen’s experience and background join the organization,” Ms van der Schoot said.

Mr Ellmen will collaborate with the Oikocredit Support Associations in Western Canada, Central Canada (including Quebec) and the Atlantic, and represent Oikocredit nationally to the media and social investment community.

“We look forward to the additional possibilities the office will bring from January 2013 and welcome Mr Ellmen to the Oikocredit team,” said Ms van der Schoot.

More information

Read the official press release

Oikocredit USA selected for the Impact Assets 50 2012

Tue, 20 Nov 2012 18:45:38 +0100

October 2, 2012 – Oikocredit USA has been selected for the ImpactAssets 50 2012 (“The IA 50 2012”), an open-source, publicly published database of experienced private debt and equity impact investment fund managers.

The ImpactAssets 50 2012 is a resource for advisors and investors seeking to respond to the growing demand for investment opportunities that deliver both financial and social or environmental returns, and is now available at http://www.impactassets.org/impactassets-50.

This annually updated list is a gateway into the world of impact investing for investors and their wealth advisors, offering an easy way to identify experienced impact investment firms and explore potential investment options. The IA 50 is intended to illustrate the breadth of impact investment fund managers operating today; the IA 50 2012 represents $10.2 billion of capital invested across geographies, sectors, asset classes and impact areas such as community development, microfinance and clean technology.

A Selection Committee chaired by ImpactAssets’ Chief Strategist, Jed Emerson, and comprising industry experts selects firms according a set of criteria developed to ensure that the list includes a diverse set of firms. Criteria for inclusion include firms that: have more than three years of experience in the impact investing field; invest through private debt or equity; and a demonstrate commitment to social and environmental impact at the portfolio level and corporate responsibility at the firm level.

“100% of Oikocredit’s assets are invested in the social impact arena, combating poverty by increasing access to financial inclusion and spurring economic development in the world’s poorest countries,” said Sharlene Brown, National Director of Oikocredit USA. “As a committed and long-time member of the impact investing community, Oikocredit USA is thrilled to be among those recognized for our investment portfolio.”

500 MFIs report social data to Oikocredit in 2011

Thu, 10 Jan 2013 14:07:22 +0100

96% of those surveyed provide Oikocredit with social performance data, providing Oikocredit with one of the largest social databases in the industry.

STOCKHOLM – June 15, 2012. Nearly 500 microfinance institutions around the world have reported social performance data to private microfinance investor Oikocredit. The data, to be released today in Stockholm, Sweden, reflects the organization’s dedication to prioritizing microfinance clients by advancing the analysis of social goods.

The report draws on 2011 data submitted by 495 of Oikocredit’s microfinance partners – reflecting a 96% participation rate. “With this many partners reporting social and financial performance data, Oikocredit has one of the most comprehensive social databases among microfinance investors,” says Oikocredit Social Performance Director Ging Ledesma.

“The data shows our partners are increasingly committed to client-oriented practices. For example, the number of partners that have developed environmental policies and client satisfaction surveys has dramatically increased in the past two years.”

At the close of 2011, Oikocredit’s total development portfolio was $674 million, with about $525 million in microfinance and the remainder in social enterprises like fair trade and agricultural cooperatives. Almost 26 million people were reached through the microfinance partners: a majority of which are small MFIs each serving less than 10,000 clients. The 2011 data showed 53% of MFI clients were living in rural areas, and 83% were female. While Oikocredit’s portfolio spans every continent, it holds a steady presence in Africa with 15% of its total portfolio in the region - a figure that is double the industry average.

Oikocredit hosted over 100 workshops and introduced a program to ‘mentor the mentors’ throughout 2011 in an effort to increase client-focus among partners. As a direct result of these initiatives, the number of partners endorsing the Client Protection Principles increased, and many more partners underwent social ratings when compared with 2010.

In the coming year, Oikocredit will continue to work directly with partners to integrate their social and financial focus, while fine-tuning its own data collection to monitor changes over time.

“Some partners who have been assisted in the use of the Progress out of Poverty Index, a poverty measurement tool, are beginning to track changes in clients’ lives over a period of years, so more in-depth reporting is expected in 2013,” said Ms. Ledesma.

“Measuring impact continues to be a challenge but we firmly believe that by supporting MFI partners in social performance, they can achieve a genuine client-centered approach in their daily practice.”

2011 Figures: Oikocredit Shows its Strength in Diversity

Thu, 10 Jan 2013 14:01:00 +0100

Amersfoort, 13 March 2012 - Oikocredit has concluded another year of solid return for its investors and partners, demonstrating its strength in a diverse portfolio.

2011 proved a positive year for Oikocredit - one of the world’s largest private microfinance financiers. There was an 8% increase in money in the field, as Oikocredit’s development finance portfolio reached $674 million - up from $623 million in 2010. Through 896 partners, Oikocredit financing gave over 26 million people access to fair finance, economic opportunity and community development.

Investors demonstrated their commitment to development finance by providing Oikocredit with a net capital inflow of $52 million. In total 2,000 new investors joined, bringing the number of investors worldwide to 45,000. Investors will share in Oikocredit’s final 2011 result of $20.6 million, with $12.6 million (2% on member capital) to be proposed as dividend.

Despite challenges in microfinance in the Indian state of Andhra Pradesh, Oikocredit’s total portfolio remained strong because of its diverse investments in agriculture, trade and microfinance in almost 70 countries.

Client welfare a top priority

Oikocredit aims to achieve positive social change in the lives of poor entrepreneurs and client welfare remains a priority. Throughout 2011, Oikocredit also supported over 100 capacity building interventions to enable partners to improve operations and enhance their social mission. Building on the success of last year’s activities, Oikocredit will allocate almost $630,000 from its net income for 2011 to reinforce capacity building support to partners.

Growth in Africa

The past year saw Oikocredit gain more ground as an investor in Africa. Oikocredit’s African portfolio remains well above the industry average for social investors of 5% (Symbiotics 2011 MIV Survey Report) with 15% of our portfolio – $97 million – invested in 17 African countries. Oikocredit forged 50 partnerships with African organizations last year, and staffed offices in Nigeria and Mozambique. Operations started in Rwanda, and throughout 2012, Oikocredit plans to undertake market surveys in Cameroon, Madagascar and Malawi.

Outlook 2012

In the coming year, Oikocredit will continue to work closely with its partners to deliver positive social change and access to financial products and services. Next to a further expansion in Africa, Oikocredit aims to increase its equity portfolio and financing of agricultural projects.

Oikocredit USA Names Two Prominent Socially-Responsible Investment Experts to its Board

Thu, 10 Jan 2013 14:08:21 +0100

Cheryl I. Smith and Corinne Florek bring fund management and community development expertise to Oikocredit USA’s growing board of directors.

WASHINGTON, D.C. – January 17, 2012 - Oikocredit USA today announced the addition of two social investment leaders to its growing, diverse board of directors. Cheryl I. Smith, Managing Partner and Investment Manager of Trillium Asset Management Corporation, and Corinne Florek, Fund Director of both the Religious Communities Investment Fund and the Mercy Partnership Fund, will provide the board with hands-on experience in the promotion and administration of funds dedicated to sustainable and responsible portfolio management.

“We are delighted to welcome Cheryl and Corinne to our board,” said Terry Provance, Executive Director of Oikocredit USA. “Their significant experience in community economic development and portfolio management demonstrates how to use capital innovatively to empower low-income people, which is the primary mission of Oikocredit USA. We look forward to their active participation on our board.”

Cheryl Smith, Managing Partner, Chief Compliance Officer, and Investment Manager at Trillium Asset Management, LLC, provides sustainable and responsible portfolio management for institutional and individual clients. An economist and former assistant professor of economics at the University of Denver, she has also served as Vice President of the United States Trust Company of Boston, now known as Walden Asset Management, where she managed the Women’s Equity Mutual Fund and the Calvert Social Investment Fund Bond Portfolio. She brings considerable non-profit board experience, as former Board Chair of US SIF, the Forum for Sustainable and Responsible Investing, and as former Trustee and Chair of the Investment Committee for the Episcopal Divinity School in Cambridge, Massachusetts.

Corinne Florek has spent 30 years working in the field of community economic development as a manager, educator, consultant, financial administrator and strategic planner. Her work spans the administration of a 50-member craft cooperative in Appalachia to management of a national and international loan fund for the Sisters of Mercy. She also brings a range of relevant experience, as Loan Fund Manager, then Interim Executive Director, of the Women’s Initiative for Self-Employment, and Coordinator of Justice Organizers, Leadership and Treasurers (JOLT), in addition to consultancies in business and community economics.

“We are at a turning point, with growing interest in community investment by institutions,” said Smith. “There has never been a more important time to bring to bear all of our resources behind the collective effort to make community investing a default allocation for institutional investors and thereby encourage the innovative use of capital for community economic development. In my role as an Oikocredit USA Board member I am convinced that I can leverage my experience to grow the overall footprint of community investment, and in particular to add to the already considerable efforts of Oikocredit USA in community investment.”

Florek said, “I am honored to serve on Oikocredit USA’s board. I have provided investments to Oikocredit with every fund I managed because I appreciate their efforts to promote diverse strategies such as cooperatives and fair trade enterprises as well as microfinance institutions. Their commitment to empower women is even more important now as we struggle to end poverty worldwide in the new reality of this economy.”

Other members of Oikocredit USA’s current board include: Chair Kay Hixson, Kay Hixson & Associates; Vice Chair Jesse Fripp, ShoreBank International; Secretary Paul Nelson, Graduate School of Public & International Affairs, University of Pittsburgh; Treasurer Paul Neuhauser, Finance and Investment Committees of the Interfaith Center on Corporate Responsibility; Susan Gottshall, American Baptist Home Mission Societies; and David Mesenbring, St. Mark’s Episcopal Cathedral.

Cooperativa Manduvirá to tour Europe

Thu, 28 Mar 2013 16:43:51 +0100

Andrés González, general manager of Cooperativa Manduvirá Ltda from Paraguay, and Rodrigo Ortiz, country manager of Oikocredit Paraguay, are touring Europe from 1 to 13 November on a roadshow to talk about their history and future ambitions. Manduvirá, a sugarcane small farmers’ cooperative, which mainly produces fair trade, organic sugar, is building a brand new factory. Oikocredit was the first financier to invest in the plant.

Self-sustainable

The new factory will be self-sustainable in terms of energy. It will have a huge impact on the cooperative’s manufacturing capacity, and it will also act as a job catalyst for the community in the area of Arroyo & Esteros, where Manduvirá is based.

Andrés González Aguilera, General Manager of Manduvirá, at the construction site.

On the road

The roadshow featuring Manduvirá and Oikocredit Paraguay will visit the following six countries:

UK
Germany
Switzerland
Spain
Belgium
France

Download an overview of the roadshow activities per country

Workshop at Cooperatives United

The roadshow will be launched during Cooperatives United in Manchester (UK), the international event and exhibition which officially marks the closure of the UN 2012 International Year of Co-operatives.

During the event Oikocredit will organise the workshop “Cooperativa Manduvirá: an inspirational Fairtrade organic co-operative from Paraquay” and will have a permanent exhibition booth (Stand 55).

Member capital

Andrés Gonzalés says: ‘The most precious capital we have is the trust of the members. All the producer-members are sure the cooperative will support them and continue to do so.’

‘More important than having the money is the good idea, the vision. Only in the dictionary does the word ‘success’ come before ‘work’. If you are certain of where you wish to go, using determination, work, effort, and sacrifice nothing can stop you.’

More information

Growing economies with agriculture

Thu, 04 Apr 2013 14:39:01 +0200

A strategy outlined by Oikocredit aims to expand its agricultural portfolio of projects outside micro- finance to 30% over the next five years. An integral part of this objective is to expand financing to agricultural projects. The agricultural strategy, which was launched in 2010, focuses on developing countries with a significant potential for development through agricultural projects.

Several elements make up the strategy, including extending the scope for pre-export financing. This means lending to cooperatives or companies that export commodities like coffee, cocoa, or cotton by buying products from farmers and bringing them to the market.

Securing income

‘These organizations help small farmers sell their products in Europe or the US, and assist them in securing an income. But they have limited funds to buy from farmers in order to export the agricultural commodities overseas,’ said Oikocredit director Loans and Investments Florian Grohs. ‘The time between buying the harvested coffee beans, and getting the money for the coffee they’ve sold to an international buyer, can be bridged with an Oikocredit loan.’

Partnerships

Expanding an organization’s potential to deal with organizational and operational tasks also plays a vital role in strengthening Oikocredit’s agricultural portfolio. Partnerships already exist with NGOs including Agriterra and ICCO who work to consult with agricultural partners on practical issues.

‘Often our cooperative partners have difficulty with the financing and accounting side of their operations. For example, the coop is made up of groups of farmers with little formal education, accompanied by a volunteer board, and might be having trouble finding an experienced manager,’ said Mr Grohs. ‘So we hire consultants to look at how we can help them in their financial operations and deal more effectively with international buyers.’

Organic produce

Environmental sustainability is another high priority for the industry, with farming techniques and climate change presenting challenges. While demand for organic produce has grown in the West, traditional farming techniques still make up the overwhelming majority of farming methods in developing countries.

‘The reality is that there are very few organic farms in developing countries at the moment; around 1% or maybe even less. That’s why we work with as many agricultural producers as we can, encouraging transitions to organic where feasible.’

Risky business

Extra measures in the form of training and education serve to decrease the risk agricultural projects are known to face. ‘The potential of the agricultural sector is very large and it faces risks,’ said Grohs. ‘But weighing the risk against the potential to improve the lives of small farmers and their families, the decision to forge ahead with our agricultural strategy is clear.’

Oikocredit appoints David Woods as new managing director

Tue, 05 Mar 2013 16:47:13 +0100

Oikocredit is pleased to announce David Woods has accepted the role as new Managing Director of Oikocredit International. He will join Oikocredit 1 November 2012 and officially take up his post 1 January 2013, replacing Ben Simmes, who will be retiring after serving Oikocredit for sixteen years in a number of key roles.

Born in Ireland, Mr Woods brings a wealth of experience in international finance and multi-cultural leadership to Oikocredit. After graduating from Harvard University, he started his career at Royal Bank of Canada, where he held various positions for eleven years before moving to ABN AMRO. During his twenty years there, he held a range of strategic posts, including Global head of e-commerce for Financial Markets, Country head for Japan, Country head for Sweden and Chief Operating Officer/Chief Financial Officer for the Middle East. Before joining Oikocredit, Mr Woods held leadership positions in financial organizations in Dubai and is currently an advisory board member of the European Institute for Interdisciplinary Research in Paris.

Announcing the appointment, Oikocredit Board President Salome Sengani said: “David is an experienced leader who has demonstrated that he can operate effectively across an international network and in complex, multi-stakeholder environments. His operational and strategic experience across a wide variety of geographies and financial product areas, as well as his success in implementing training and development programmes will stand him well in leading highly motivated, knowledgeable individuals and teams. Above all, the Board has seen in him a person who has undergone a social change of heart from a leader in work environments motivated primarily by commercial profits to having a passion for being part of a movement that is inspired by the development of people and the social impact that can be achieved. We are therefore confident that David will ensure the continuity of Oikocredit’s social mission and unique approach to investing.”

“I’m delighted that the Board has decided I’m the right person for the job,” he said. “I am excited about all that lies ahead. Oikocredit is a unique development finance organization with its social mission grounded solidly in its roots. It is an honour to serve a cooperative which focuses on increasing the financial options of social enterprises and so improve the lives of people around the world. For me this is a highly attractive opportunity, as it brings together my experience in international finance and my faith.”

The Oikocredit board is extremely grateful to current Managing Director Ben Simmes for the key role he has played in developing and implementing Oikocredit’s social performance management strategy. Oikocredit’s reputation as a social player has been built and strengthened by Mr Simmes over his many years of service.

“Oikocredit’s role in propelling social performance management can be credited to Ben,” said Ms Sengani, “He has succeeded in integrating social performance at all levels of Oikocredit’s operations and contributed to the sharpened focus on safeguarding social values in the sector.”

Interview: The changing face of microfinance

Thu, 28 Mar 2013 16:52:10 +0100

Ben Simmes, Managing Director Oikocredit, shares his view on how microfinance has changed, and what the industry needs for the future.

In 2009, Oikocredit identified the worrying trend of microfinance clients taking on too much debt and declared action to ensure client welfare remained the industry’s top priority. A designated staff member was appointed to each of Oikocredit’s 33 country offices to evaluate the issue locally, while several sector-wide initiatives were launched to ensure stakeholders remained committed to the welfare of the poor.

We certainly welcome any discussion on microfinance, since constructive criticism prompts the industry to reflect, evaluate and keep its focus.There has been a lot of discussion surrounding the effectiveness of microfinance. How do you respond to that critique?

When we talk about microfinance in general, it’s important to remember it goes beyond credit, to savings, insurance and remittance services. It’s also essential to realise microfinance is just one of many tools that, if used correctly, has the potential to empower the poor with a sustainable livelihood.

Microfinance is not for every situation. A struggling business owner may not need a loan, but financial or practical training instead. A small farmer may require access to a fair market to sell his produce. This is where financial literacy projects and cooperatives become essential.

It’s for these reasons that Oikocredit not only supports microfinance organizations, but fair trade cooperatives and small to medium sized enterprises. This multi-pronged approach creates jobs, fosters education and supports communities.

What have been the most significant changes for microfinance?

In recent years, microfinance has been through some major transformations. Microfinance has become a more holistic tool that aims to enable people to cope with their lives by paying school fees, fixing a house, acquiring health insurance or building-up savings.

We farewelled the notion that microfinance was a magic bullet, and started thinking of it as part of a set of tools we can use to meet the financial needs of the poor. The industry has had to adapt and change with the needs of the end-client while remaining financially sustainable.

What does the industry need to stay focused?

We need a genuine commitment to a balance between social and financial return, to serve the intended target groups. Today, we see a marked commitment to a common, social goal among many major social investors, which has led to impressive initiatives including the Principles for Investors in Inclusive Finance (PIIF).

The PIIF established a set of guiding principles for investors regarding the fair treatment and protection of end-clients. In addition, the Social Performance Task Force and the Client Protection Principles have set solid expectations for the industry as a whole. Oikocredit plays an active role in all of these initiatives.

How can microfinance investors, like Oikocredit, hold a microfinance institution to its social mission?

Microfinance investors can make a huge impact on the industry.

Firstly, it’s essential to maintain a stable, long-term commitment to partners to support and monitor partners’ social goals. Oikocredit often identifies challenges within the organization that can be solved with practical training from either our Social Performance or Capacity Building team.

Secondly, microfinance investors can actively drive down interest rates by closely evaluating an organization’s profit margin and efficiency. Oikocredit reviews interest rates MFIs charge their clients, and has initiated and promoted activities that aim to lower interest rates – most notably, MFTransparency.

Finally, investors should clearly establish the expectations they have of their partners. Several important initiatives have been developed to ensure client welfare remains a top priority, including the Client Protection Principles. These principles are now a contractual obligation for all new Oikocredit microfinance partners and more than 220 of our existing microfinance partners have endorsed the principles.

What are Oikocredit’s plans for the coming years in relation to over-indebtedness and pricing transparency?

Oikocredit will continue to educate our partners and their staff on client welfare, while we go deeper into evaluating social performance and encourage our partners to do the same. Sector-wide initiatives will remain a priority, as will the discussions that continue to redefine inclusive finance. It’s clear we will need to continuously re-evaluate our role within microfinance. We are prepared to do what is necessary to keep the social goals of microfinance at the heart of the industry.

More information

Oikocredit West Africa launches social performance mentoring programme

Tue, 05 Mar 2013 16:57:12 +0100

Oikocredit West Africa and Terrafina Microfinance are launching a joint social performance management (SPM) mentoring programme in Saint-Louis, Senegal. The main objective of the programme is to support five MFI networks to identify areas where they can improve with regards to client focus and social performance.

The participating MFIs include Oikocredit partners UIMCEC and Mec Delta.

The programme, which runs from September 2012 to February 2013, includes several workshops, SPM assessments of the participating MFIs, field visits and SPM action plans. It has a two-level focus, at MFI level and SPM mentor level.

Raising awareness among decision makers

At MFI level, the training targets MFI top management and Boards. If decision-makers become actively involved they will better understand SPM issues and be able to discuss, define and monitor the implementation of SPM strategies.

The training aims to build internal capacity by involving one specific member of the Management Team to be responsible for the integration of SPM within the MFI.

SPM mentors

At SPM mentor level, the objective is to strengthen the capacity of local consultants in the field of SPM. These consultants will support the MFIs during and after the workshops to facilitate SPM assessments and support them to develop and implement their own SPM action plans.

More information

New Grameen report on poverty outreach in the Philippines

Tue, 05 Mar 2013 17:02:15 +0100

Grameen Foundation has published a new report, co-funded by Oikocredit, entitled Poverty Outreach of Selected Microfinance Institutions in the Philippines.

The report examines three different aspects of poverty outreach among 10 microfinance institutions (MFIs) in the Philippines based on data collected using the Progress out of Poverty Index (PPI).

Grameen’s analysis illustrates how MFIs and other pro-poor organisations can use poverty measurement data to evaluate their social performance. Poverty outreach can be measured by looking at the following aspects:

concentration: the percentage of clients that are poor
scale: the number of poor clients
penetration: the percentage of poor households in an area that are reached.

A framework to improve poverty outreach

The analysis provides a framework that MFIs can use to make decisions and set directions to improve poverty outreach. These three should be taken and analysed together to understand the performance of an organization within the context of the specific goals and objectives of each MFI.

Progress out of Poverty Index (PPI)

Oikocredit works closely with Grameen Foundation to implement the Progress out of Poverty Index (PPI), a tool developed by this global non-profit organisation to measure and monitor the social impact of microfinance.

More information

Severe floods hit Oikocredit partners in the Philippines

Tue, 05 Mar 2013 17:09:25 +0100

This week, the Philippines has been hit by flooding and landslides as a month's worth of rain fell over two days. A state of calamity has been declared in parts of Manila and other areas as roads have become inaccessible, houses have become inundated and people have died.

Oikocredit’s office in Manilla has been temporarily closed but staff are hoping to resume operations shortly. The state-run weather bureau has terminated the rainfall alert warning over Metro Manila but advised the public to continue monitoring updates.

It is still unclear exactly to what extent the floods have affected Oikocredit’s partners in the Philippines, particularly those located in the western section of Luzon, the country’s largest island. More information will be published as soon as it becomes available.

Last December, typhoon Sendong hit further south creating unprecedented devastation.

Coops foster self-help and sustainable development

Tue, 05 Mar 2013 17:14:44 +0100

Cooperatives around the world will celebrate their unique structure with the official International Day of Cooperatives tomorrow.

On 7 July 2012 Cooperatives around the world will celebrate their unique structure during the official International Day of Cooperatives.

The United Nations have named 2012 the Year of Cooperatives to honour the model as an alternative way of doing business and recognize that a successful cooperative can lead to owner-members to enjoy collective benefits.

Oikocredit finances 290 cooperatives

Oikocredit follows a cooperative structure itself with 595 active members who work together to finance 290 cooperatives around the world.

Florian Grohs, director of Loans & Investments, said cooperatives can be an invaluable tool that allows disadvantaged people to unite over a common interest.

Fostering self-help

“We at Oikocredit continue to believe in the idea that cooperatives are a very good way to foster self-help, especially for disadvantaged people, and promote sustainable development.” Grohs said.

One such cooperative is Malki Lom, which operates an agricultural organization to support a small village in Northern Bulgaria.

Partners honoured for outstanding social performance in the Philippines

Tue, 05 Mar 2013 17:19:22 +0100

Two partners in the Philippines were honoured for their outstanding work in environment, social and governance in a ceremony held by Oikocredit South East Asia last night.

The awards, which select the top social performers from Oikocredit’s microfinance partners in the Philippines, recognized ASKI and CARD for their exceptional accomplishments.

Category: Outstanding Achievement in Social Performance

Winner: ASKI

Alalay sa Kaunlaran (ASKI) was presented with the overall Award for Outstanding Achievement in Social Performance and integrating key financial, social, environmental and governance principles into its microfinance operations.

ASKI has been an Oikocredit partner since 2006 and operates on the island of Luzon, the Philippines. The MFI provides credit to small entrepreneurs including farmers, tricycle drivers, vendors and fisher folks.

In January this year, ASKI also received the Seal of Transparency from MFTransparency, in addition to its 2011 honour from the Grameen Foundation that certified its use of poverty measurement tool, Progress out of Poverty Index.

As the winner of this category, ASKI will receive USD10,000 to further their social performance work.

Category: Outreach and Inclusion

Winner: CARD

The Center for Agriculture and Rural Development (CARD) was honoured with the Award for Outreach and Inclusion for outstanding work in deepening outreach to the most vulnerable groups in its area.

CARD is an MFI that operates in the hard to reach areas of Mindanao and surrounds, and targets almost exclusively disadvantaged and poor women.

The organization has been an Oikocredit partner since 2002 and will receive USD4000 to go towards a social performance management project.

The South East Asia Oikocredit ESG Awards

The Environment, Social Governance (ESG) Awards are formal recognition given by Oikocredit South East Asia to partners who have consistently exhibited exceptional institutional accomplishments in social performance.

The objective of the awards is to promote and reward excellence among its MFI partners in the field of Social Performance, while highlighting best practise examples in the most critical aspects of social performance: environment, social and governance.

Costa Rican partner featured at Rio+20

Tue, 05 Mar 2013 17:39:54 +0100

A report on Costa Rican cooperative partner Coonaprosal was featured as a Social Business case study at Rio+20 in Brazil last week.

The report, shortlisted among 32 reports by UN Global Impact, examines a project funded with grants from the Netherlands Ministry of Foreign Affairs, together with CEGESTI, Oikocredit and ICCO.

The cooperative Coonaprosal produces salt, fresh fruit, shrimp and offers financial and community support to its members. The objective of this project was to expand and make improvements to the existing agro-industrial plant to process more tropical fruits.

The Schokland Fund was created to help fulfil the UN Millennium Development Goals (MDGs) while fostering social and environmental business opportunities in the region. This case study examines the project’s results in relation to three MDGs:

to eradicate extreme poverty and hunger (MDG 1)
ensure environmental sustainability (MDG 7)
encourage a world alliance for development (MDG 8)

More information

Download the case study 'Promoting social and environmental business opportunities in Central America & Dominican Republic’

The Rotary Foundation to support Oikocredit partner with training

Thu, 14 Mar 2013 10:10:04 +0100

The first project in the partnership between Oikocredit and The Rotary Foundation (TRF) has been launched in the Philippines.

The Rotary Club of Plaridel South in the Philippines will assist groups of ASKI clients with vocational training and strengthening their market presence by forming small cooperatives. The project aims to build the capacity of women and out-of-school youth by providing education on savings and the importance of insurance, while providing business-specific training including:

food processing, to assist members in opening a small canteen,
agricultural training for farmers to take care of livestock,
mat production and sales.

ASKI is a microfinance institution with more than 100,000 clients, most of them women. Approximately 160 people from five communities in the Philippines are expected to participate in the joint project.

The partnership between Oikocredit and TRF is designed to create opportunities for Oikocredit microfinance partners to identify needs and develop practical capabilities of their organization, and structure training programmes to improve entrepreneurs’ business skills, together with local Rotary clubs.

FMO and Oikocredit creating opportunities in low income countries

Thu, 14 Mar 2013 10:09:12 +0100

Dutch development bank FMO and Oikocredit have launched a €10 million fund to create business opportunities in low income countries. By providing access to finance, the Low Income Countries (LIC) Fund aims to support micro and small entrepreneurs in countries recognized by the United Nations as low income.

With this fund, FMO and Oikocredit will invest predominantly in Central and Southern African countries through rural-based microfinance institutions and small and medium-sized enterprises (SMEs).

A joint investment

Both FMO and Oikocredit will put €5 million towards the fund. Microfinance institutions providing financial services to micro and small entrepreneurs will receive 75% of the loans and the remainder will be used for SME funding. Oikocredit, with its vast network of local offices and expertise in rural expertise, will act as fund manager.

Focus on micro and small entrepreneurs

Ben Simmes, Managing Director at Oikocredit: “While FMO invests large amounts in microfinance institutions mainly active in urban areas, Oikocredit invests smaller amounts and provides funding to the relatively smaller microfinance institutions with a strong focus on rural regions.

Together, we aim to provide micro and small entrepreneurs in the world’s poorest countries with access to finance. The LIC Loan Fund fits Oikocredit’s strategy to expand its portfolio in Africa.”

Responding to business expansion needs

Maurice Scheepens, Investment Officer at FMO: “The interesting aspect of this concept is its ability to cater for the needs of growing companies. Once the fund has provided its support to companies at the bottom of the pyramid, the respective companies can qualify for a ‘regular’ Oikocredit loan and subsequently for a larger facility from FMO.

Thereafter, the company is well qualified for support from commercial banks. This way, Oikocredit and FMO optimally combine the strengths of their organizations.”

Inclusive finance

With the launch of the LIC Loan Fund, FMO and Oikocredit extend their cooperation in inclusive finance. Both organizations are shareholders in a number of MFIs and Oikocredit has a stake in The Currency Exchange Fund (TCX), co-founded by FMO.

Press contacts

FMO
Mr Paul Hartogsveld
p.hartogsveld@fmo.nl
+31 (0)6 39 44 72 88
Oikocredit International
Ms Kawien Ziedses des Plantes
kziedsesdesplantes@oikocredit.org
+31 (0)6 272 549 04.

About Oikocredit

Oikocredit is one of the world’s largest sources of private funding to the microfinance sector. It provides credit and equity to small businesses through microfinance institutions across the developing world and directly to trade cooperatives, fair trade organizations and SMEs. Oikocredit is privately financed.

About FMO

The Netherlands Development Finance Company (FMO) is the bilateral private sector development bank of the Netherlands. FMO invests in the private sector, which can serve as an engine of sustainable growth in developing markets. To this end, it provides capital, knowledge and partnerships to ambitious entrepreneurs.

With an investment portfolio of €5.9 billion, FMO is one of the largest bilateral private sector development banks worldwide.

It focuses on three sectors which create a high development impact:

financial institutions
energy and agribusiness
food & water

This focus enables FMO to offer tailor-made finance solutions, based on real expertise. In other sectors, FMO teams up with renowned partners to combine local networks, knowledge and experience.

Meet the president: Salome Sengani, president board of directors

Thu, 14 Mar 2013 10:21:00 +0100

Mrs Sengani is a South African national, with specific expertise in corporate strategy and banking. She holds an MBA from the University of Pretoria, South Africa. Mrs Sengani has broad experience as a board member.

How did you react when you were elected as the president of Oikocredit’s board of directors?
My reaction is gratitude for the opportunity to serve this community, and to empower people for stronger living around the world. Oikocredit is guided by the principle of empowering people, and being chosen to lead during a time when around the world, people are living under increasing pressure is sobering. However, I have been blessed by God with gifts and invited to serve in this capacity. I am grateful for this chance.

What is your goal for Oikocredit?
Oikocredit has a distinguished history of making a substantial impact for people who are often ignored and disrespected. My goal is for us to build on the strengths of our core values and mission while adapting to the new challenges and opportunities our rapidly changing world faces.

How do you see the board’s role in the organization in the coming years?
The past year was successful but for Oikocredit with the tragic loss of Erik Heinen, a valued member of the management team. Feeling the pulse of Oikocredit partners, staff, supporters and members is essential for Oikocredit to continue its success in serving its partners. As a board, we will honour our history and forge a new future of investments and partnerships that can build a better world.

New president for Oikocredit Board of Directors

Thu, 14 Mar 2013 10:11:59 +0100

Oikocredit has named a new president and vice president for the Board of Directors, following its Annual General Meeting in Bälsta, Sweden on 15 June 2012.

Mr Matt Christensen is the new vice president of Oikocredit’s Board of Directors, bringing his experience as Global Head of Responsible Investment at AXA Investment Managers (France) to the position. Mr Christensen has an MBA from the Wharton School in the University of Pennsylvania (USA) and his expertise is primarily in investments and fundraising. He is also non-executive director of the Ludgate Environmental Technology Fund and the Munro Fundamental Tracker Fund.

New board members

Two new board members, Jacinta Hamann de Vivero from Peru and Amulike Ngeliama from Tanzania, will join the newly-elected president, vice-president and existing board members in future Oikocredit deliberations.

The former board president Mr Mwombeki and board member Mrs Judith Castaneda made valued contributions to Oikocredit’s cause throughout their respective terms on the board. The organization continues to benefit from their hard work and dedication.

The full picture: 500 MFIs report social data for 2011

Thu, 14 Mar 2013 10:26:11 +0100

Close to 500 microfinance institutions around the world have reported social performance data to private microfinance investor Oikocredit. The data, to be released today in Stockholm, Sweden, reflects the organization’s dedication to prioritising microfinance clients by advancing the analysis of social goals. The report draws on 2011 data submitted by 495 of Oikocredit’s microfinance partners - a 20% jump in data participation since data collection began in 2008.

“With this many partners reporting social and financial performance data, Oikocredit has one of the most comprehensive social databases among microfinance investors,” says Oikocredit director social performance Ging Ledesma.

Committed to client-oriented practices

At the close of 2011, Oikocredit’s total development portfolio was € 520 million, with € 410 million in microfinance and the remainder in social enterprises like fair trade and agricultural cooperatives. Almost 26 million people were reached through the microfinance partners: a majority of which are small MFIs each serving less than 10,000 clients. The 2011 data showed 53% of MFI clients were living in rural areas, and 83% were female.

Steady presence in Africa

While Oikocredit’s portfolio spans every continent, it holds a steady presence in Africa with 15% of its total portfolio in the region - a figure that is double the industry average.

Mentor the mentors

Oikocredit hosted over 100 workshops and introduced a programme to ‘mentor the mentors’ throughout 2011 in an effort to increase client-focus among partners. As a direct result of these initiatives, the number of partners endorsing the Client Protection Principles increased, and many more partners underwent social ratings when compared with 2010.

In the coming year, Oikocredit will continue to work directly with partners to integrate their social and financial focus, while fine-tuning its own data collection to monitor changes over time.

Towards more in-depth reporting

“Measuring impact continues to be a challenge but we firmly believe that by supporting MFI partners in social performance, they can achieve a genuine client-centred approach in their daily practice.”

Download the Oikocredit Social Performance Report 2011

About Oikocredit

Oikocredit is a social investor and worldwide cooperative that promotes global justice by empowering disadvantaged people with credit. Since 1975, Oikocredit has offered loans and investment capital to microfinance institutions, cooperatives, fair trade and other businesses. Today, Oikocredit has 896 partners in almost 70 countries.

Press contacts

Oikocredit International: Kawien Ziedses des Plantes,kziedsesdesplantes@oikocredit.org, +31 (0)6 272 549 04.
Oikocredit USA: Sharlene Brown, usa@oikocredit.org, +1 202 728 41 40
Oikocredit UK & Ireland: Patrick Hynes, uk@oikocredit.org, +44 (0)1995 602806