We are thrilled to announce our partnership with two Luxembourgish non-governmental organisations, Grameen Credit Agricole (GCA) Foundation and Appui au Développement Autonome (ADA), to enhance our financial services for female smallholder farmers. Our goal is to offer access to financial services to communities that have been underserved.
With the collaboration, we aim to create digital loan, savings, and transfer products customised to meet the unique requirements of female smallholder farmers. Through this initiative, we plan to train 17,000 women on how to use these products to access the financial services they need to enhance the productivity of their farms. The partnership will enable us to expand our loan portfolio and serve more rural women who are often neglected by conventional financial institutions.
Currently, we serve 40,000 female borrowers, with 80 percent of them residing in rural areas. Our loan portfolio is worth EUR 4.6 million (USD 5 million), and we operate 17 branches, employing 105 individuals. We also have affiliates in Zambia and Zimbabwe.
Our joint effort is aimed at promoting financial inclusion and empowering female smallholder farmers in Malawi and beyond. This partnership is a significant step towards our shared goal of providing access to financial services to underserved communities, enhancing their livelihoods, and contributing to economic growth in the region. Click here to read more about joint venture with CGA and ADA.