PlaNet Finance, a nongovernmental organization based in France, recently announced that its shea butter project in northern Ghana has employed 3,500 women to date and is expected to employ 1,500 more in the next year [1]. A joint project of PlaNet Finance and SAP, a business software company headquartered in Germany, the Ghana Shea Value Chain Initiative was launched in 2010 with the support of Ghanaian microfinance institutions Maata-N-Tudu and Grameen Ghana [1,2]. Through the project, women engaged in shea butter production in Ghana have received financial and other support, such as gloves for picking shea nuts, grading mills for processing, storage silos and mobile phones to check shea butter prices [1].
PlaNet Finance reportedly seeks to expand the project up the supply chain by building a factory to process the shea butter. Currently, a portion of the unprocessed output is sold as raw material to a local cosmetics manufacturer, while the rest is shipped to Europe. Jacques Attali, president of PlaNet Finance, was quoted as having said, “What we intend to do after 2013 is to establish a social business with the women as shareholders that tries to pursue the highest form of value-addition to the product.” Referring to a study by US-based Stanford University that showed an increase in the incomes of program participants, he reportedly said, “But this is more than money. It is also a means to keep the women in the villages and stem migration to the cities.” [1]
By Kristha Abores, Research Associate
About PlaNet Finance:
Founded in 1998 in Paris, France, PlaNet Finance is a nongovernmental organization (NGO) with the mission of alleviating poverty through microfinance. PlaNet Finance is active in approximately 80 countries as of 2012 and is comprised of nine for-profit and nonprofit units: PlaNet Finance Advisory Services, which provides technical and advisory services; Planet Rating, a microfinance rating agency; PlaNIS responsAbility SAS, which specializes in advisory services and structuring and managing microfinance funds; MicroCred, an investor in microfinance; PlaNet Guarantee, which specializes in microinsurance; FinanCites, a social venture capital company; PlaNet University, a microfinance training provider; and MicroWorld, an internet loan platform for microentrepreneurs.
About Maata-N-Tudu:
Maata-N-Tudu (“Women of the North”) is a non-governmental women’s membership organization operating in northern Ghana. It seeks to “economically empower women” by supporting their income-generating activities through microcredit. Financial information on the organization is not available via the US-based Microfinance Information Exchange or otherwise.
About Grameen Ghana:
Grameen Ghana is a nonprofit organization based in Tamale, Ghana. Its goal is to reduce poverty and improve living conditions in rural areas. It focuses on the areas on microcredit, food security and education. Grameen Ghana’s funders include the United Nations Development Program (UNDP) and the US-based Grameen Foundation. As of December 31, 2010, Grameen Ghana reported to the US-based nonprofit Microfinance Information Exchange total assets of approximately USD 709,000, a gross loan portfolio of approximately USD 530,000, return on assets of -0.41 percent, return on equity of -8.2 percent and 10,549 active borrowers.
Sources and Additional Resources:
[1] “Shea Butter Project Employs 3,500 Women,” http://spyghana.com/business-news/shea-butter-project-employs-3500-women…
[2] “Purpose of the Initiative,” http://www.starshea.com/purpose-of-the-initiative/
MicroCapital.org article, January 14, 2011, “MICROCAPITAL BRIEF: Stanford University Study Indicates Success of Ghana Shea Value Chain Initiative, Olam International Enters As Buyer,” https://www.microcapital.org/microcapital-brief-stanford-university-study…
MicroCapital Universe Profile: PlaNet Finance, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=PlaNet+Finance
MicroCapital Universe Profile: Maata-N-Tudu, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Maata-N-Tudu
MicroCapital Universe Profile: Grameen Ghana, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Ghana
MicroCapital Universe Profile: Grameen Foundation, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Foundation
MicroCapital Universe Profile: United Nations Development Program (UNDP), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=United+Nations+Development+Program+%28UNDP%29
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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