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Oikocredit supporting partners with more than finance
Oikocredit, is a private 35 year old global Development Financing Institution that responds to the needs of businesses that create income for financially disadvantage people and contribute to the local community development.
Established in 1994, the Regional Office East Africa is based in Kenya. It covers countries like Kenya, Tanzania and Uganda, benefiting many small entrepreuners and clients
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News
15-03-2011
Oikocredit has allocated a further €400,000 to its capacity building fund, strengthening its project partners with more than finance.
This amount allows the financing of an additional 20 to 25 projects in the field of training, marketing and partner education over the next year.
"We constantly investigate how we can assist our partners, not only financially, but to strengthen their capacities in different areas," said Oikocredit Director Social Performance and Financial Analysis Ben Simmes.
Oikocredit's capacity building projects focus on expanding a partner's social orientation, risk mitigation and new product development. These tasks are usually facilitated by Oikocredit country office staff in combination with local capacity building experts.
Capacity building is especially important for Oikocredit partners in production cooperatives and small to medium enterprises, said Oikocredit Capacity Building Manager Jacques Sam.
"Sometimes in those businesses more is needed than financing. How can they position themselves in the market? Do they need to develop new products? For these types of projects, financing alone is not always suitable," he said.
Capacity building projects in Oikocredit are traditionally supported through the Church of Sweden, ICCO and the Dutch government, and this internal Oikocredit funding allows further expansion of Oikocredit's capacity building plans for 2011.
"Our core business is financing," said Mr Simmes. "But it's vital we support our partners in other areas and that's what this €400,000 will do."