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Can you introduce Vahatra?
Vahatra, founded in 2002, is an NGO whose main objective is to improve the living conditions of poor families by promoting the development of their financial, economic, health and social autonomy. The priority target is therefore families living on less than $2 a day per person, and meeting clearly defined socio-economic criteria. In order to achieve our goal, Vahatra gives families wishing to improve their situation access to loans, health insurance and social support. Implementing these activities requires partnerships with other structures or institutions. A partnership with Banque SIPEM, an institution supported by SIDI in Madagascar, has been established in 2023 within the framework of a
borrowing to finance loans.
How did Vahatra come into contact with SIDI?
Vahatra learned of Sidi’s existence through the prospecting work carried out by our Partnership Manager in Madagascar in 2010. After several exchanges, the partnership began in 2015 with a guarantee contribution on a loan taken out by Vahatra with a local bank. Since then, the number of active borrowers has more than doubled.
In your opinion, what is/was SIDI’s decisive contribution to this partnership?
For VAHATRA, access to credit is a challenge, as MFIs in Madagascar do not benefit from government support, particularly in terms of access to refinancing. Sidi’s financial support has enabled us to develop our credit portfolios. On a technical level, SIDI offered us its support, enabling us to define VAHATRA’s future institutional model and to carry out the application process for approval and the organization’s institutional transformation. This request is currently in progress. We have also been supported by SIDI since 2022 in the selection and implementation of a new MIS designed to improve the management of our credit portfolios.
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Do you have a message for the 2,000 shareholders who enabled SIDI to support Vahatra?
We would like to sincerely thank Sidi for their confidence and professionalism, which has enabled us to develop our activities and know-how. The fact that Sidi has been with us for eight years is a guarantee that has opened the door to other investors.
The next step in our partnership will be for Sidi to acquire a stake in the company, which is currently being set up and approved by our respective directors. Sidi’s social, solidarity-based and environmental vocation has motivated us to go even further towards sustainable development.