Forum for Sustainable Enterprise Development in Sudan
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1 Forum for Sustainable Enterprise Development in Sudan April 2007 Alternative Approaches for Local Reconstruction
2 Enabling Microfinance in Africa: Experience of DID By Serge Gosselin April 2, 2007
3 Presentation Agenda Group: Caisse Business Model Développement international (DID) Enabling Microfinance in Africa
4 Group: THE LARGEST COOPERATIVE FINANCIAL GROUP IN CANADA General Presentation Revised in June 2006 by the Institutional Affairs Division of the Group. Unless otherwise indicated, the data presented here are as at December 31, 2005.
5 Canadian Cooperative Finance Sector $179 billion in assets in 2005 for 10.6 million members, of which more than 50% are associated with -affiliated caisses ($91 billion for 5.6 million members) cooperative network Network of credit unions Assets Members $36 bil 1.5 mil $11 bil 0.6 mil $9 bil 0.5 mil $11 bil 0.5 mil $23 bil 1.7 mil $83 bil 5.2 mil $0.5 bil 0.04 mil $3 bil 0.3 mil $1.4 bil 0.2 mil $0.6 bil 0.06 mil 5
6 : Productive and People-oriented 6
7 How It All Began Within 15 years, 163 caisses had been set up: -136 in Québec -18 in Ontario - 9 in the U.S. When Alphonse died in 1920, the caisses had over $6 million in assets. Late 19th century: poverty; difficult for workers and small producers to access credit, resulting in usurious loans Alphonse, the son of a working class family, was concerned with social issues and the financial situation of the working classes. Worked as a journalist and edited parliamentary debates; became a House of Commons stenographer In 1898, read People s Bank by Henry Wolff and began corresponding with European co-operators to discuss cooperative models. Decided to organize popular credit using popular savings First caisse populaire founded on December 6, 1900 in Lévis. Recognized by Québec statute in 1906 Alphonse recognized as the father of the North American savings and credit cooperative movement 7
8 Group s birth place Maison Alphonse-, Lévis, Quebec 8
9 Mission To contribute to the well-being of people and the economic and social development of their communities within the compatible limits of its field of activity by: developing an integrated cooperative network of sound and profitable financial services, owned and administered by the members, and a competitive, member-controlled network of complementary financial companies; teaching democracy, economics, solidarity and individual and collective responsibility, especially to members, officers and employees. 9
10 today Complexe, Montreal, Quebec 10
11 today Campus, Lévis, Quebec 11
12 Organizational Chart Cooperative Network Trust Fonds de sécurité Capital Bank Caisse centrale 5,375,031 MEMBERS IN QUÉBEC AND ONTARIO 552 CAISSES POPULAIRES AND GROUP CAISSES IN QUÉBEC (530) AND ONTARIO (22) Commercial Lending USA, corp. Fédération des caisses du Québec Développement international ONTARIO FEDERATION 47,367 DCU MEMBERS IN ONTARIO DESJARDINS CREDIT UNION Fondation 218,578 MEMBERS IN NEW BRUNSWICK AND MANITOBA 40 CAISSES IN NEW BRUNSWICK (33) AND MANITOBA (7) NEW BRUNSWICK AND MANITOBA FEDERATIONS Société historique Alphonse- Subsidiary Network Gestion Valeurs mobilières Securities Disnat Securities International LP and regional development funds Venture Capital Capital régional et coopératif 1 The Personal, Insurance Company * 1 Venture capital, public fund managed by Venture Capital Inc. Chart does not reflect the legal ownership structure. General Insurance Group Certas Direct Insurance Company * General Insurance * As at June 30, 2006 The Personal, General Insurance * Optiinsurance Financial Security SFL Management OptiFunds Investments Sigma Assistel Asset Management Global Asset Management Fiera Capital * Ownership link Auxiliary members * Shared ownership Société immobilière Place Place
13 Today The largest integrated cooperative financial group in Canada offering a full range of financial products and services for individuals and businesses The top financial institution in Québec and the 6th largest in Canada with assets totalling $129.8 billion* One of the best capitalized financial institutions in Canada Over 5.6 million member-owner-users in Canada (70% of Quebecers are members of a caisse) Close to 400,000 business members in Canada, including over 135,000 using our credit services (approx. 40% penetration rate in Québec) Supported by 7,594 elected officers in Canada Québec s largest private employer (36,590 people) and among the 20 largest in Canada *As at June 30, data including Ontario, New Brunswick and Manitoba caisses and federations 13
14 The Caisse Business Model 14
15 The Caisse Autonomous legal entity with its own Board of Directors, General Meeting and financial statements Caisse clients are all owner-members, via the obligatory qualifying share of $5 per member each of which carries the same democratic weight (1 member, 1 vote) Network operation with common brand name and service offer for all caisses and shared support services (IT and other) and mechanisms for financial stability Competitive prices for products and services with possibility of patronage allocations for members as bonus Distributor (not manufacturer) of products and services and local socio-economic agent 15
16 The Caisse (cont d) In Québec, financial cooperatives must be affiliated with a central unit or a federation (integrated network) Strict adhesion to standards and bylaws defined by the Fédération and common to all caisses Average Québec caisse assets: $153 million* (goal: all caisses at least $50 million) Caisse capitalization made up mainly of: 77% reserves 9% share capital composed of $5 qualifying shares (unlimited by the caisse) and $10 optional permanent shares (non-voting and not refundable on demand, bearing interest determined by members at the General Meeting) 14% subordinated debenture issued on institutional markets * As at December 31, 2005 ($138 million in 2004) 16
17 Multichannel Integrated Offer The Caisse: Doorway to an Integrated Network Individual and Business Members Business Centres Card Services, Payroll, etc. Subsidiaries POS Financing CAISSE Expert Group Integrated Caisse AccèsD Internet Internet Telephone ATM and POS Full Range of Financial Products and Services Mobile Internet 17
18 At a glance Group is: 18
19 Group Money working for people An integrated cooperative financial institution determined to ensure its members and society benefit from the advantages of its cooperative difference A top-ranked financial institution with a recognized name that is always equated with quality and that imposes upon itself the highest standards in governance and proper management An outstanding network of caisses, rooted in all their respective regions, providing access to the full range of financial products through its subsidiaries An attractive prospective partner for other cooperative businesses around the world who are driven by the same social and commercial values 19
20 Développement international (DID)
21 Organizational Chart Cooperative Network Trust Fonds de sécurité Capital Bank Caisse centrale 5,375,031 MEMBERS IN QUÉBEC AND ONTARIO 552 CAISSES POPULAIRES AND GROUP CAISSES IN QUÉBEC (530) AND ONTARIO (22) Commercial Lending USA, corp. Fédération des caisses du Québec Développement international ONTARIO FEDERATION 47,367 DCU MEMBERS IN ONTARIO DESJARDINS CREDIT UNION Fondation 218,578 MEMBERS IN NEW BRUNSWICK AND MANITOBA 40 CAISSES IN NEW BRUNSWICK (33) AND MANITOBA (7) NEW BRUNSWICK AND MANITOBA FEDERATIONS Société historique Alphonse- Subsidiary Network Gestion Valeurs mobilières Securities Disnat Securities International LP and regional development funds Venture Capital Capital régional et coopératif 1 The Personal, Insurance Company * 1 Venture capital, public fund managed by Venture Capital Inc. Chart does not reflect the legal ownership structure. General Insurance Group Certas Direct Insurance Company * General Insurance * As at June 30, 2006 The Personal, General Insurance * Optiinsurance Financial Security SFL Management OptiFunds Investments Sigma Assistel Asset Management Global Asset Management Fiera Capital * Ownership link Auxiliary members * Shared ownership Société immobilière Place Place
22 Sharing experience 35 years of intervention in some 50 countries Annual income of 22 M$ Some 200 employees The largest expert group in international development in Canada, all sectors taken into account
23 Our Mission The DID mission is to empower the disadvantaged in developing countries and countries in transition by developing community-owned and operated financial institutions which will have an impact on the community.
24 DID is: A tangible expression of the Group s cooperative difference A consortium of numerous and varied skills Innovative methodologies and solutions
25 Our Values Access to diversified financial services: a necessity Developing community assets: a springboard towards autonomy Suitable solutions Intervention focused on individual Sustainable partnerships Strength through unity: integrating networks
26 A Vast Network of Partners Local governments Government agencies (CIDA, etc.) World Bank Others Développement international (DID) 28 partner networks Proxfin Almost a thousand cooperatives or savings and credit groups
27
28 Our Partners Nearly one thousand cooperatives or savings and credit groups directly supported by DID 6,500 employees (of whom 53% are women) 9,500 directors (of whom 34% are women) Assets of over CAN $1 billion CAN $713 million in savings deposits CAN $690 million in loans Average loan of CAN $ million members and clients Data taken from Trends and Performance (January 2007)
29 Active in: Africa Algeria Angola Benin Burkina Faso Burundi Cameroon Djibouti Ethiopia Ghana Guinea Madagascar Mali Mauritania Niger Rwanda Senegal Tanzania Togo Americas and the Caribbean Brazil Haiti Mexico Nicaragua Paraguay Central and Eastern Europe Lithuania Russia Asia India Philippines Sri Lanka Vietnam
30 DID Approach to Local Reconstruction Microfinance provides leverage to Develop the local economy Include poor and isolated communities Foster income generating activities Involve women in this economic effort and give them access to financial services Empower inhabitants to reconstruct their country
31 DID Approach: Turn around MFIs: Experience In Rwanda, the decentralized financial system has been turned around after the local conflict Microenterprises have profited from the creation of a specialized financial centre for businesses (Centre financier aux entrepreneurs) Strong contribution to the local economy, creation of new businesses and jobs
32 DID Approach: MFI Expansion: Impact Greater penetration of rural and border zones Reach returning refugee populations Retain populations in their village, where they will find the means to earn income from their activities (able to borrow)
33 DID Approach: MFI Expansion Experience In Burundi, the country is facing a vast reconstruction effort with microfinance providing essential leverage MFI networks have expanded their outlets close to borders welcoming returning women and men and demobilized soldiers Families remain in their community and participate actively in the reconstruction effort
34 DID Approach: Adapt Financial Services : Experience In Burundi, special savings and loan services were established for soldiers who had received demobilization allowances In Haiti, several financial services were created to support the economy (ex: schooling loans to encourage access to education) In Rwanda, the Centre financier aux entrepreneurs supports microentrepreneurs in Kigali and surroundings
35 DID Approach: Adapt Financial Services : Adapt financial services to facilitate reintegration Identify the clienteles and their specific needs (business men and women, returning refugees, etc) Configure deposit and loan services to facilitate reconstruction (conditions for access, guarantees, interest rates, non-financial services) Specifically target women, HIV-AIDS infected individuals, youth, former refugees)
36 DID Approach: Adapt Financial Services : Impact A tangible effect on reconstruction by creating facilitating conditions, effective support and measured risk A local staff that understands the environment and dynamics of the milieu Women are able to improve their family s quality of life, youth have access to jobs
37 DID Approach: Promote Local Ownership Experience: In Haiti, cooperative MFIs survived the political turmoil because of community solidarity and involvement This model has been proven effective and is being modernized with new governance methods A trend towards federated MFIs sharing services, resources and ideas
38 Levels of Intervention: A Global Approach Levels of intervention Legal framework External surveillance Organization into networks, development of systems and creation of business units Creation of service outlets (base institutions) and introduction of products for poor clienteles Specific impact Structuring of the industry Protection Institutionalization and sustainability Outreach Objectives: Enable individuals to meet their basic needs (health, education, food), develop individual assets and ensure their autonomy. Enable communities to develop collective assets. Support the creation of small businesses and the private sector. Stimulate job creation and strengthen civil society.
39 At a Glance: DID Outlook Innovate in approaches, adapt them to country postconflict context Coordinate DID intervention efforts with those of other organizations working on reconstruction Increase access to financial services for youth, the handicapped and HIV-AIDS infected individuals
40
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