ICCO Partners with Agricultural Bank to Strengthen Value Chains in Senegal
ICCO Cooperation and the National agricultural bank – CNCAS (Caisse nationale de crédit agricole du Sénégal) are joining forces to strengthen the onion and niebe (Black eyed peas) value chains in the country.
The niebe and onion are two very important crops in Senegal particularly in the North, in the regions of Thies, Louga and Saint Louis, where the Strengthening African Rural Smallholders (STARS) program is operating. The two crops are among the most consumed and highly favored in the Senegalese cuisine.
On July 20th, Idrissa Ba, representing ICCO Senegal and Malik Ndiaye, the Director General of CNCAS signed a partnership agreement to support onions and niebe smallholders in easily accessing finance. The agreement aims to support smallholders and partners in the STARS program to access and benefit from the different financial services offered by CNCAS. Smallholder farmers will easily access loans at favourable conditions, and they will be supported in financial advice and education.
“The CNCAS wants to develop financial products adapted to the needs of producers alongside ICCO whose skills in the field are recognized,” indicated Mr. Ndiaye, “This will increase competitiveness, especially in the field of onions and of niebe. We hope that the partnership will be fruitful, sustainable and extended to sectors as well as stimulate knowledge sharing“, said Ndiaye.
This initiative is part of STARS’ activities to develop and implement innovative, sector specific agriculture financial products with financial institutions for smallholder farmers.
The Strengthening African Rural Smallholders (STARS), a program of ICCO Cooperation in partnership with Mastercard Foundation, is supporting 39,500 farmers (50% women) in rural Senegal to access appropriate financial products by partnering with selected financial Institutions.