Senegal
Key figures
|
Started in |
2007 |
| Allocated 2007-2008 |
EUR 240,000 grants; EUR 553,000 guarantees |
| # of MFIs 2008 | 7 |
| Focus on | - Basic capacity building for cooperative networks - Crop insurance |
In Senegal, Terrafina Microfinance's activities started from existing partnerships of Oikocredit and Rabobank Foundation. In the cooperative sector, Terrafina Microfinance is providing grants for capacity building to several MFIs that have a loan with Oikocredit: Djomec, MEC-Feprodes and U-IMCEC. Terrafina also supports rural cooperatives in the Louga region, working to build their union at regional level (with assistance of CISV and Aquadev).
One credit-led MFI, Caurie Microfinance, receives grants from Terrafina as well as a loan from Oikocredit for business plan support and portfolio expansion. In 2009, a new partnership with the national microfinance network APSFD was started.
Among Terrafina's successes is the workshop on crop insurance. Another success lies in the replication in Senegal of Terrafina's efforts in other countries. The entrepreneurial spirit of one Senegalese MFI (U-IMCEC) resulted in a plan to develop its own social scorecard. This is a spin-off of the award that the Ethiopia-based MFI Busaa Gonofaa won in 2008 for their Terrafina Microfinance supported scorecard.
