Mesofinance Media - News #Agriculture

USAID expands Feed the Future program to Guatemala in effort to boost incomes, food security, resilience in rural areas

Mon, 19 Feb 2024 15:01:41 -0500

The US government’s Agency for International Development recently announced it has budgeted USD 6 million to support the financial inclusion of micro-, small and medium-sized enterprises owned by people in Guatemala who are members of one or more of the following groups: women, young people and indigenous citizens. Elements of the program are aimed at “enhancing financial literacy… and helping financial service providers reach underserved rural markets with better, tailored products.” The goals include to boost savings, investments in agriculture, food security and access to digital financial services. Another part of the program is to help people who receive remittances to leverage these funds to meet community goals. The effort is part of a project called Feed the Future, which is active in 20 countries in Africa, Asia, Latin America and the Caribbean.

Equal Exchange engaging retail investors to support smallholder farmers

Thu, 15 Feb 2024 11:10:17 -0500

Through April 2024, the US-based cooperative Equal Exchange is offering notes that promise an annual return of 3% through 2027. Retail investors can purchase the notes on Crowdfund Mainstreet, a website owned by the US-based public benefit corporation MiTec. Equal Exchange, which is seeking to raise USD 1.5 million through the offering, sells coffee, chocolate, bananas and other food products on a wholesale basis. It sources these products from small-scale farmers in Latin America and Africa, whom it supports with services such as pre-harvest financing.

The potential for agricultural insurance in the Philippines \ Niclas Benni \ UN Food and Agriculture Organization

Mon, 12 Feb 2024 10:09:43 -0500

This study evaluates the feasibility and potential benefits of introducing agricultural insurance in the Philippines’ Bangsamoro Autonomous Region in Muslim Mindanao. The intent is to enhance the resilience of small-scale farmers in BARMM against extreme natural events such as floods, droughts and hurricanes.

Mr Benni refers to prior research indicating that agricultural productivity in the region is not meeting its potential due to “limited access to credit and agricultural insurance, low farm mechanization and inadequate post-harvest facilities, inadequate irrigation, scant support to research and development, unstable extension service, and incomplete agrarian reform program implementation.”

When the idea of purchasing insurance was introduced to farmers in BARMM, some were receptive to the idea while others were not. The latter group may benefit from education on the potential benefits of insurance.

The Philippine Crop Insurance Company is a government entity that protects farmers against losses to crops - based on weather conditions or actual yields - as well as damage toassets such as harvesting and processing equipment. However, PCIC enrollments have been low in BARMM due to conflict in the region and lack of collaboration with local government units.

To improve farmers’ access to insurance, Mr Benni suggests: (1) reviewing the insurance projects of the World Bank and the Asian Development Bank that are ongoing elsewhere in the Philippines to see if they can be replicated in BARMM; (2) increasing outreach by PCIC in the region; and (3) piloting a index insurance product in BARMM that complies with Islamic principles.

This is a summary of a paper published by the UN Food and Agriculture Organization and written by Niclas Benni.

Summary by: Courtney Huang

Invest in Africa Summit \ 16-17 April \ the Hague, the Netherlands

Fri, 09 Feb 2024 14:02:47 -0500

This annual gathering promotes trade between Africa and Europe, North America and Asia. The agenda includes country-specific meetings and discussions of investment opportunities for the African diaspora. The conference themes include Agribusiness, Climate Financing, Renewable Energy and Technology. The cost to attend ranges from the equivalent of USD 1,100 to USD 1,640. For further information, you may contact the organizers via +31 616 950 384 or info@investinginafrica.eu.

16th Annual Sanabel Conference \ 14-15 May \ Dead Sea, Jordan

Thu, 08 Feb 2024 17:33:38 -0500

Originally scheduled to take place in November 2023, this event is centered on the effects of global trends on microfinance in Arab countries. Participants will discuss and build strategies on topics such as making microfinance less harmful to the environment, improving risk management, and expanding services to farmers as well as women in all sectors. The day before the main conference begins - May 13 - representatives of Sanad Fund for MSME and the World Bank Group’s International Finance Corporation will offer training on agriculture and climate finance. Founded in 2002 to promote microfinance in Arab countries, Sanabel has since expanded to include 79 members from both Arab and European nations. Sanabel is an NGO headquartered in Egypt, and it is also registered in the US. The general participation fee is USD 1,000, but for Sanabel members and all attendees from Jordan, the fee is USD 800. A further discount of USD 50 per person is applicable for groups of five or more. For more information, you may email info@sanabelnetwork.org or call +20 2 2537 3170 or +20 10 0041 0458.

John Akuoko-Tawiah of Development Bank Ghana at SAM 2023: On Sustainable Finance

Tue, 06 Feb 2024 11:39:48 -0500

John Akuoko-Tawiah

Just a few minutes into talking with John Akuoko-Tawiah, it’s clear that he loves to look at the big picture. He sees how ideas can translate into solutions on the ground in Ghana and how they can be replicated around the world. I caught up with John after he participated in a panel discussion titled, “What do we mean by sustainable inclusive finance? Definitions, taxonomies, labelling,” at SAM 2023 in October in Togo. John Akuoko-Tawiah is the Head of ESG, Sustainability and Climate Finance for Development Bank Ghana.

Bob Summers: How does Development Bank Ghana approach wholesale lending to its partner financial institutions?

John Akuoko-Tawiah: DBG supports micro-, small and medium-sized enterprises with climate financing, primarily by lending to commercial banks and what are known in Ghana as Specialized Deposit-Taking Institutions. We work with these participating financial institutions to integrate environmental and social sustainability measures into their lending processes, in line with both international and local ESG standards. Our portfolio of PFIs includes Fidelity Bank Ghana, Access Bank Ghana, Cal Bank, Consolidated Bank Ghana, Ecobank, Zenith Bank Ghana, Sinapi Aba Savings and Loans, Advans Savings and Loans, and Opportunity International. Together we finance sectors including agribusiness and manufacturing as well as designated “high-value” services, which are ICT, transport, education, hospitality and health. Part of the value we provide is to structure funding on relatively long tenors, between 5 and 15 years.

In addition to funding, DBG provides technical assistance. For example, we help our PFIs strengthen their ESG capacity and develop products tailored to the needs of underserved MSMEs.

Bob: What is the status of your new Green Finance and Investment Facility?

John: We’ve earmarked the equivalent of over USD 8 million for this facility to scale low-carbon and climate-resilient investments in Ghana over the next few years. The bank also is securing additional grant funding from development partners to expand this facility. So far, we’ve disbursed the equivalent of over USD 1.6 million to PFIs. This is part of Ghana’s commitment to meet its Nationally Determined Contributions under the Paris Agreement by 2030.

Ghana’s NDCs comprise 47 adaptation and mitigation actions, including the creation of partnerships to develop new financial instruments for low-carbon, climate-resilient development. Part of this process is building a Green Taxonomy to specify business activities that are “green” and “non-green.” This will help guide our PFIs to set up green finance desks to facilitate deals that contribute to Ghana's NDCs as well as the UN’s SDGs. Another role of the facility is to support Ghana’s Energy Transition framework, through which the country aims to achieve net-zero carbon emissions by 2060.

Bob: What is in the future for DBG?

John: DBG’s response to the impacts of climate change is part of a global challenge that requires urgent and coordinated efforts. Despite Africa's relatively low contribution to greenhouse gasses, the continent is among the most vulnerable to extreme weather events, particularly in sectors like agriculture, which form a significant part of the region’s GDP. To address these challenges, financial institutions face several hurdles. These include long payback periods for green investments, elevated interest rates on green loans, lack of technical expertise in evaluating green finance opportunities and a shortage of investment-ready projects for on-lending. DBG is looking to scale its Green Finance and Investment Facility to address these challenges by mobilising the equivalent of over USD 19 million in additional funding during 2024.

This feature closes a sponsored series supporting this past October’s African Microfinance Week (SAM 2023). SAM is organized by ADA and the Microfinance African Institutions Network with the support of the Directorate for Development Cooperation and Humanitarian Affairs of Luxembourg and the government of the event’s host country, which rotates each time the event takes place. The next SAM is scheduled for 2025. Bob Summers has been engaged to promote SAM since 2015.

ICT4D \ 19-20 March \ Accra, Ghana

Tue, 06 Feb 2024 09:13:34 -0500

This annual gathering is intended to promote innovations in technology that “are making a measurable difference millions of lives” through humanitarian relief, development projects and conservation efforts. The event’s themes include digital inclusion, digital health, food security, agriculture, and youth engagement and employment. The primary sponsor is the US-based NGO Catholic Relief Services. The cost to attend ranges from USD 250 to USD 1,000. For further information, you may contact the organizers via +1 757 748 5003 or adminict4dconf@crs.org.

Sankalp Africa Summit \ 28-29 February \ Nairobi, Kenya

Thu, 25 Jan 2024 13:46:54 -0500

This year's Sankalp Africa Summit focuses on “sustainable” development in Africa, including via entrepreneurship and impact investing. Attendees will engage on themes such as renewable energy, gender issues, engaging youth, agriculture, health and sanitation. Sankalp events are held in various locations as part of Intellecap, which is a member of India's Aavishkaar Group. The cost to attend ranges from USD 229 to USD 1,199. For further information, you may contact the organizers at SankalpForum@intellecap.net or +91 022 6195 2700.

19th Annual Global Microfinance Forum \ 14-15 March \ Amsterdam, the Netherlands

Tue, 23 Jan 2024 14:26:04 -0500

This forum will bring stakeholders together to discuss topics such as: (1) Climate-Smart Financing for Smallholder Farmers; (2) Women’s Economic Empowerment by MFIs; and (3) Green & Sustainable Finance; Genuine Change from MFIs. The event is hosted by Uniglobal, a firm based in the Czech Republic that was established in 2002 and provides knowledge sharing and networking opportunities. The registration fee is EUR 1,500 (USD 1,633). For additional information, you may contact Oksana Zaleska at oksana@uni-global.eu or +420 226 220 450.
Author: Aarya Dhru

SOCAP24 \ 28-30 October \ San Francisco, California, USA

Thu, 18 Jan 2024 10:38:27 -0500

The SOCAP24 conference is dedicated to solving global issues via market-based solutions, including by promoting partnerships for funding and technical assistance. It is arranged by SOCAP Global, whose name derives from the concept of “social capital.” SOCAP Global a part of the US-based Sorenson Impact Institute, which is housed at the University of Utah and has a total of four offices in Canada and the US. The conference agenda - which is still under development - is expected to cover topics such as Asia’s Net-Zero Transition, Blended Finance, Digitalisation in Finance and Sustainable Land Use. Tickets are on sale for USD 1,399 as of January, but the price is set to increase to USD 2,599 on an undisclosed date. For further information, you may email hello@socapglobal.com.

Authors: Courtney Huang and Tiyasha Sarkar