The Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, recently issued a loan of EUR 100,000 (USD 113,000) to Société Sénégalaise des Filières Alimentaires (SFA) to finance a rice storage facility. SFA buys rice from 1,500 farmers in the Senegal River Valley; processes it into white rice; and sells it, largely under the Terral brand. SFA also promotes the use of improved agronomic techniques, double cropping and input financing. Since 2013, GCA Foundation has owned a 20-percent stake in SFA.
GCA Foundation was founded in 2008 by Credit Agricole SA, a French retail bank, in partnership with Muhammad Yunus, the founder of the Grameen Trust of Bangladesh. The foundation provides funding and technical assistance to Microfinance institutions and other social businesses with the aim of contributing to the reduction of poverty. As of September 2018, GCA Foundation has commitments of approximately EUR 77 million (USD 89 million) outstanding to approximately 70 partners in 35 countries in Africa, Asia and Eastern Europe. Its partners serve 3 million customers, of whom 77 percent are women and 74 percent live in rural areas.
By Anuhya Tadepalli, Research Associate
Sources and Additional Resources
Direct contact with Grameen Credit Agricole Foundation
AgDevCo profile on SFA
https://www.agdevco.com/smallholder-development-unit/by-partner/SFA
GCA profile on SFA
http://gca-foundation.org/actualites/La-Fondation-Grameen-Credit-Agricole-consolide-son-soutien-a-la-Senegalaise-des-Filieres-Alimentaires-SFA
Terral webpage
https://www.durabilis.eu/terral
GCA Foundation homepage
http://gca-foundation.org/
GCA Foundation 2017 Annual Report
http://gca-foundation.org/liens/zzhwk
MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Distributes $675k Loan to Cambodian MFI Chamroeun,Takes 20% Stake and Gives Funding to Senegalese Senegalaise des Filieres Alimentaires SA (SFA)
https://www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-gcamf-distributes-675k-loan-to-cambodian-mfi-chamroeuntakes-20-stake-in-senegalese-senegalaise-des-filieres-alimentaires-sa-sf/
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