Putting concepts into practice
The impact story of UNACREP
UNACREP is a network of savings and credit cooperatives operating in the urban and rural areas of Cotonou, Benin. For over 22 years, UNACREP has provided microcredits and short and long-term loans to its members, dedicated to its mission of financing activities of rural farmers. UNACREP has a strong rural presence with over 84,000 members of which approximately 40% are women.
In 2021, UNACREP received a loan from the Agri-Business Capital Fund (ABC Fund) of €1.525.000 which will enable it to provide its borrowers more stable and long term financing needs.
As part of the ABC Fund loan, UNACREP also received technical and advisory services support through the Technical Assistance Facility (TAF) managed by Agriterra. The support, designed to improve agriculture credit knowledge at branch level as well as operational risk management, was supplied by TA Facility partner Rabo Partnership.
The training provided loan officers and credit analysts better understandings of agri-finance. At the end of the training, some participants stated that they understood their clients’ needs more comprehensively and could better translate them into loan applications, and the vast majority said they will be able to put the concepts they learned into practice. The participants also expressed interest in strengthening the analysis of the credit applications especially in terms of key indicators and ratios.
The second TA component aimed to improve the operational risk framework and mitigation activities. Through a deep dive session and coaching, Rabo Partnership worked with UNACREP to improve the risk management framework.
A huge success has been the appointment of a Risk Manager, Mr. Adjimavo Hounkpatin. This is the start of a new Operational Risk Department, which is envisioned to have three or four staff members.
