sam coleman dunlap project director – kenya/usda world council of credit unions [email protected] ...
TRANSCRIPT
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Sam Coleman DunlapProject Director – Kenya/USDAWorld Council of Credit Unions
Kenya: Linking StakeholdersKenya: Linking Stakeholders
International Food Aid ConferenceApril 8, 2009International Food Aid ConferenceApril 8, 2009
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The global trade association and development agency for credit unions
worldwide.
Promoting the sustainable development of credit unions to empower people around the world to grow through access
to high-quality, affordable financial services.
Improving people’s lives through credit unions
Who is WOCCU?
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Credit unions are financial cooperatives that provide savings, credit and other financial services to their members.
Credit union membership is based on a common bond, a linkage shared by savers and borrowers who belong to a specific community, organization, religion or place of employment.
What is a Credit Union?
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Credit Unions Worldwide
177 Million Members
49,000 Credit Unions
96 Countries
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Programs in 2009
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WOCCU/USDA-Kenya
• Credit union strengthening
• Agriculture business development services
• Education grant program for children of HIV/AIDS-affected households
Kenya: Linking Stakeholders through Value Chain Finance
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WOCCU/USDA-Kenya
• 80% of the population relies on agriculture to make a living
• 40% unemployment rate • Estimated agricultural labor lost to AIDS*
– 3.9% (2000)– 16.8% (2020 est.)
• Nyanza province has one of the highest rates of HIV/AIDS in Kenya
* U.N. Food and Agricultural Organization
Kenya Context
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Kenya
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WOCCU/USDA-Kenya
1. Farmers become SACCO members and apply for an agricultural loan
2. WOCCU identifies and contracts with buyers3. WOCCU reviews applications and inspects land to
determine input needs4. SACCO distributes loans in the form of vouchers for
necessary inputs5. Suppliers return vouchers to the SACCO for compensation6. WOCCU and the buyer monitor crop performance until
harvest7. Buyer remits crop payment to the SACCO8. SACCO clears the farmers’ loan and transfers the profit to
an individual or group savings account
Mitigating Ag Lending Risk
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WOCCU/USDA-Kenya
Challenges
• Drought
• Institutional strengthening
• Simplifying the process
Learning from the Process
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WOCCU/USDA-Kenya
Achievements• Comprehensive assistance
to farmers– Access to finance– Agricultural technical
assistance– Market linkages
• Increased credit union membership
• Affordable loans and access to savings
Learning from the Process
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WOCCU/USDA-Kenya
Peru
Sri Lanka
Ethiopia
Adapting What We’ve Learned