MICROCAPITAL BRIEF: CNFA, Oikocredit Partner to Support Cocoa Farmers, Cooperatives in Cote d’Ivoire with Capacity Development, Financial Access

Cultivating New Frontiers in Agriculture (CNFA), an NGO with main offices in Belgium and the US, recently partnered with Dutch cooperative Oikocredit to increase the financial access and diversity of income sources of cocoa producers in Cote d’Ivoire. The program, which is funded by the US Department of Agriculture, includes efforts to help cooperatives improve their governance and financial management; build digital financial services; and support farmers in managing risk, which can increase their ability to secure loans.

Hans Perk, the Regional Director for Africa for Oikocredit, argues “social impact finance and capacity building are among the most effective tools for reducing poverty.”

Founded in 1985, CNFA seeks to support agriculture through “initiatives to facilitate market access, enhance agribusiness competitiveness, increase productivity, and improve access to inputs and financing.” As of 2017, the NGO reports total income of USD 56 million supporting operations in 45 countries.

Founded in 1975, Oikocredit is a cooperative that invests in microfinance, fair trade, agriculture and renewable energy. As of October 2018, Oikocredit has EUR 971 million (USD 1.1 billion) in capital invested in 693 firms in 70 countries, including 471 involved in financial inclusion. As of December 2018, these financial services providers served 36 million people, 84 percent of whom are women and half of whom live in rural areas.

Sources and Additional Resources

CNFA press release
https://www.cnfa.org/press/cnfa-partners-with-oikocredit-to-sustainably-improve-incomes-of-cocoa-producers-in-cote-divoire/

CNFA homepage
https://www.cnfa.org

Oikocredit homepage
https://www.oikocredit.coop

Did you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at http://www.microcapital.org/products-page/.