IRFITCO - Ethiopia, Tanzania, Malawi
IRFITCO Ethiopia, Tanzania, Malawi
- Term: 4 years
- Budget: $3.3 million US
- Direct Beneficiaries: 3 (National SACCO apexes in Malawi, Tanzania and Ethiopia)
- Implementation Partners: ILCUF, ACCOSCA
- Financial Partners: IFAD, ILCUF, and ACCOSCA
Financial co-operatives are a growing force for financial inclusion in Eastern and Southern Africa. They often operate in remote areas where other financial institutions are unable or unwilling to operate. However, they face challenges in being able to innovate, effectively develop demand-driven products and services, access relevant training programs to increase the capacity of their staff and directors, attract qualified staff and management and to advocate on their own behalf. Lack of confidence in their own management capacity inhibits SACCOs (Savings and Credit Co-operative Organizations) from reaching beyond their traditional bonds of association to become more inclusive. Through building capacity of the Apex organizations and consultations with regulating bodies, the IRFITCO project strengthens the co-operative sectors in Ethiopia, Tanzania, and Malawi. Innovative technologies and products are being designed for co-operatives to provide to their members, with a focus on rural, agricultural communities.
"Through building capacity of the Apex organizations and consultations with regulating bodies, CDF Canada’s new IRFITCO project will strengthen the co-operative sectors in Ethiopia, Tanzania, and Malawi."
The main components of the project are:
- Improved capacity of co-operative finance network organisations to support rural SACCOs through development and improvement of innovative and replicable financial products and services for smallholder farmers.
- Improved policy frameworks and implementation capacity of supervisory and regulatory agencies to protect assets of SACCO members.
- Improved knowledge base and tools for SACCO networks, SACCOs, policy makers, IFAD, and other development actors to improve rural financial inclusion through co-operatives throughout Africa.
The primary target group for this project is national network organizations and the official agencies that support them. 20,000 rural SACCOS and the poor rural women, men, youth, smallholder families and rural entrepreneurs that rely on them will benefit.