2023 EUROPEAN MICROFINANCE AWARD
The 2023 European Microfinance Award "Inclusive Finance for Food Security & Nutrition" highlights innovations by financial inclusion organisations to safeguard access to quality and affordable food for vulnerable populations and to increase resilience of sustainable food systems.
YIKRI - Burkina Faso
WINNER
Yikri is an MFI in Burkina Faso, a country with among the highest global levels of food insecurity
as well as long-term socio-political violence. Yikri offers group-based financial services
alongside education on financial literacy, health and nutrition, and agricultural practices. Yikri
field officers are trained to recognise the warning signs of malnutrition in mothers and children
and refer clients to associations offering subsidized milk programs. Yikri has a subsidised
agricultural loan accompanied by training on sustainable agri-practices, including increasing
crop production while reducing environmental impacts, and has started “field schools” to
demonstrate recommended farming practices, as well as value chain training that connects
farmers with input suppliers and buyers.
Fortune Credit Limited - Kenya
Runner-up
Fortune Credit Limited is a Kenyan MFI offering services to a rural client base in a context of
low farm productivity caused by lack of access to quality inputs, poor agricultural practices,
lack of other infrastructure, and climate-related issues such as droughts. Inadequate resources
and poor nutrition knowledge make it difficult for low-income people to purchase nutritious
food. Fortune’s initiative includes land financing and cookstove and motorbike loans which
facilitate market access for rural farmers; water tank financing; and a certified seed program
in partnership with agri-dealers, where farmers can pre-pay in installments. Fortune also offers
training on financial literacy, food production and environmental sustainability.
Fundación Génesis Empresarial - Guatemala
Runner-up
Fundación Génesis Empresarial is a Guatemalan non-profit foundation specialised in
sustainable rural development. Responding to the challenges of malnutrition, micronutrient deficiencies, obesity and chronic non-communicable diseases, Genesis was chosen for an
integrated combination of financial services, including working capital and assets loans for
agriculture, which via its Agri-Livestock Value-chain Initiative is coupled with agronomist
guidance and climate-smart agricultural practices, as well as non-financial services, such as a
well-being programme with training on nutrition, health, business and financial management,
plus food bank support for the distribution of food and emergency assistance to poor
populations.