Oikocredit outperforms sector in microfinance outreach to women
Amersfoort, the Netherlands – Social impact investor Oikocredit continues to surpass the sector average for outreach to female microfinance clients, according to indicators published today in Oikocredit's Social and Environmental Performance Report 2017.
In 2017 almost 90% of clients reached by the microfinance organisations in which Oikocredit invests are women. This compares to an average of 70% for the sector as reported in the latest Symbiotics MIV Survey, which presents sector data for 2016.
Oikocredit also surpassed the sector average for outreach to female microfinance clients in 2014, 2015 and 2016 when comparing year-on-year with the Symbiotics data for the same period2.
The latest report shows how Oikocredit used over € 980 million to finance almost 750 organisations in 2017, reaching 36 million financial inclusion clients and over half a million farmers.
Oikocredit also saw gains in its renewable energy indicators. The number of households with improved access to energy thanks to Oikocredit's investments grew to 15,600 households, compared to 5,400 households in 2016, while a total of 38,100 tons of greenhouse gases were avoided, compared to 6,960 in 2016.
The report also details Oikocredit's capacity building activities. In 2017 the social impact investor mobilised € 845,500 of funding (up 53% from 2016) from donors and Oikocredit itself to support 100 organisations in strengthening their operations.
Thos Gieskes, Managing Director at Oikocredit, said: "The empowerment of women is essential for a just society and we see financial inclusion as fundamental to accomplishing this. We're committed to maximising our social impact in each of our focus sectors: financial inclusion, agriculture and renewable energy. We're also committed to measuring our impact."
Ging Ledesma, Director of Social Performance and Investor Relations said: "It's important to show our investors and members that we're delivering on our promise to them, and to demonstrate the difference we can make with their support. Capacity building is crucial to Oikocredit's work as a catalytic organisation leading positive change."