Index insurance is mainly based on the use of rain stations to trigger compensation for farmers. To cope with the context of the Sahelian zones, the indices are built on satellite data. The principle of index insurance is clear: the system offers a “modeling of the variation in yield as a function of the water available in the soil during the growth of the plant”. On this basis, thresholds for triggering compensation are set.
The Institution:
Created in 2014 at the initiative of the Syngenta Foundation for Sustainable Agriculture, ACRE-AFRICA operates in Kenya, Rwanda and Tanzania. ACRE-AFRICA makes agricultural insurance accessible for small farms and for very low insured amounts, thanks to a triple innovation: index insurance; distribution by aggregators; payment by mobile money. ACRE thus allows small farms to access credit on more favorable terms.
Impact:
Agricultural index microinsurance is a particularly effective tool for agricultural intensification, strengthening food security and adaptation to climate change. “I hadn’t heard of corn insurance before and I know of insurance companies that refused to pay benefits; so I was split about the product, but still signed up because there was a promise of compensation. When they did pay, I was the only one in my village who had guaranteed seeds and I shared part of the compensation with my neighbors to convince them to participate in the program the following season”. (Jane G. Simon,
corn producer in Kenya)
At the initiative of the Grameen Crédit Agricole Foundation and Crédit Agricole S.A., “Solidarity Banker” missions are offered to Crédit Agricole Group employees on behalf of microfinance institutions or companies with a social impact supported by the Foundation.
Senegal, Morocco, Haiti… : a great success for the first year
Less than a year after its launch in 2018, the success of the program confirms the commitment and willingness of employees to support projects with a social impact. This is the first time that a partnership of this type has been launched by Crédit Agricole and the Grameen Crédit Agricole Foundation. The objective is twofold: on the one hand, to enhance the skills of Crédit Agricole Group employees and, on the other hand, to provide additional support to the Foundation’s microfinance institutions and partner companies with one- to two-week missions in the field.
In 2018, six missions were launched, three of which were carried out in 2018 and three planned for 2019. For example, a mission took place in Cambodia with the support of Crédit Agricole’s International Retail Banking (BPI) to support the human resources management of Chamroeun, a partner microfinance institution serving more than 27,500 clients. Another mission was carried out in Senegal, in partnership with Crédit Agricole Franche-Comté, in favour of Laiterie du Berger, a social enterprise in which the Foundation is a shareholder. In addition, with the support of the Regional Bank, the Solidarity Banker who carried out the mission left for 2 years to support Kossam, the Dairy’s project to structure the dairy sector in Senegal.
A mission launched in 2018 will be carried out in July 2019 in cooperation with Crédit du Maroc and Crédit Agricole SA to improve the Al Karama Foundation’s anti-money laundering and anti-terrorist financing systems (AML-FT). The institution currently supports more than 26,200 clients in Morocco. Another mission launched in 2018 will be carried out in Haiti to support Palmis Enèji, a social enterprise that offers clean and accessible cooking and lighting solutions to Haitian households. Crédit Agricole Corporate Investment Bank supports the Solidarity Banker, who will carry out the entire mission in terms of skills sponsorship.
Cambodia, Kenya, Tajikistan… in 2019 the programme scales up
To date, six missions have been launched in 2019. A mission in favour of Kossam, the Laiterie du Berger project, which aims to develop a sustainable dairy sector in Senegal. The Solidarity Banker will be responsible for supporting Kossam in the deployment of a digital “commcare collection” application. Another mission is planned to support the financial management and organizational structure of Cirque Phare (PPSE) in Cambodia. PPSE aims to promote the social inclusion and empowerment of young people through Cambodian culture and arts. A mission will take place in favour of ACRE Africa, which provides crop insurance services to smallholders. The Solidarity Banker will be responsible for analysing the organisation’s new business strategy.
For these first missions launched in 2019, the selection process for Solidarity Bankers has been finalised. To date, three new missions are to be filled: a mission to support the “business model” of Humo, a microfinance institution in Tajikistan; a “management control” mission to support Musoni, a microfinance institution in Kenya; and a “digital” mission to support SFA, a social enterprise in Senegal.
Other missions are currently being planned with the support of the Crédit Agricole Group’s entities and Regional Banks. With this scheme, the Group reaffirms its commitment to support employees’ solidarity initiatives and work alongside the Foundation to promote more inclusive and sustainable finance.
Solidarity Banker missions available in Senegal Cambodia and Kenya
“Solidarity Banker” is a new type of overseas volunteering mission offered to the Group’s employees on behalf of microfinance institutions or social impact companies, partners of the Grameen Crédit Agricole Foundation. Three missions are to be filled: a “digital” mission in Senegal, a “human ressources / management” mission in Cambodia and a “strategy” mission in Kenya.
Missions to be filled
A “digital” mission for Kossam in Senegal is planned for June-July 2019. Kossam is a social enterprise, whose mission is to develop and anchor an inclusive and sustainable dairy sector around Richard Toll in northern Senegal. To do so, ossam collects milk from 450 local breeders, provides them with market services as well as advice and training. The Solidarity Banker will be responsible for supporting Kossam in the deployment of a “commcare collection” digital application.
A “Human ressources / management” mission is planned for the second quarter of 2019 to support the Phare Circus (PPSE) in Cambodia. PPSE provides employment opportunities for Cambodian artists and sustains the arts sector in the country. PPSE has now entered a growth phase and requires strengthening some aspects of its management, including strategic, financial and human resources management. The Solidarity Banker will be responsible for proposing monitoring tools and making recommendations on the organisational structure.
A “strategy” mission for ACRE Africa in Kenya will take place during the second / third quarter of 2019. Based in Kenya but also present in Tanzania and Rwanda, ACRE Africa provides crop insurance services to smallholders farmers. ACRE decided in 2018 to diversify its activities to offer consulting services and to change its business model from a B-to-C to a B-to-B model. The Solidarity Banker will be responsible for analysing the organisation’s new strategy and evaluating its business model.
How to apply?
Go to the CA Solidaires website “Find a project”
Type in the keyword serach : “Fondation Grameen”. All the missions available will be displayed !
Click on the offer you are interested in to have all the information in order to apply.
For additional information: carolina.herrera@credit-agricole-sa.fr
