AFRACA
PRACTICE AREA
Impact networks
REGION
Pan-African
INVESTMENT YEARS
2020-2024
IN 2022
- Held Digitising Rural and Agricultural Finance conference.
- 96 member institutions, based in 28 countries across Africa.
The African Rural and Agricultural Credit Association (AFRACA) is the leading pan-African network of financial and non-financial institutions promoting access to rural and agricultural finance. In late 2021, Small Foundation provided a multi-year grant to AFRACA to strengthen AFRACA’s network development and functions, including membership engagement, especially through the AFRACA Impact Task Force (AITF), knowledge management, and sector data collation and dissemination. This grant builds on the aligned work between Small Foundation and AFRACA which began in 2020.
Members and partners at AFRACA’s DIG4RAF conference. May 2022, Nairobi, Kenya
Systems lens
Small Foundation’s partnership with AFRACA supports its functions as a network, aiming to improve engagement and information flow across its members to unlock more financial services for rural MSMEs in sub-Saharan Africa. By identifying best practices and innovations across the provision of finance to the rural economy and agricultural sector, AFRACA provides its members with opportunities to strengthen their capacity, and seeks to strengthen financial institutions at regional and national levels for better integration of local expertise into decisions around capital flows for rural and agricultural ventures across the African continent. AFRACA supports best practice and collaboration across its membership in service of a conducive policy and regulatory environment, improving access to finance for rural and agricultural stakeholders.
Partner perspective
“One of the biggest challenges that has currently hit the region hard is a funding squeeze. Persistent global inflation and tighter monetary policies have led to higher borrowing costs for sub-Saharan African countries. These have impacted financial institutions and increased their cost of operations, especially those serving the rural and agriculture sector.
Financial institutions may therefore need to reposition themselves and reassess their operations to be more innovative, particularly in the deployment of digital technologies in increasing access to finance for rural communities. Supported by Small Foundation, AFRACA has brought its members together to help guide these efforts.”
Thomas T. Essel,
Secretary General,
AFRACA
30 Merrion Square North
Dublin 2, D02 VE40
Ireland
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