Key figures 2023;
Credit: ADA
ADA (Appui au développement autonome), a Luxembourgish non-governmental organisation that aims to strengthen the autonomy of vulnerable individuals by leveraging inclusive finance to improve their living conditions, has recently published its report for 2023.
According to ADA, 2023 was a productive year with major advances in terms of transformation and consolidation. ADA stated that, thanks to the commitment of its teams, partners and funders, it had contributed to improving the living conditions of more than 186,000 beneficiaries in 55 countries through €15 million worth of programmes and projects.
ADA programme management and investment advice has reportedly had an increasing impact on the vulnerable segments of the population it supports most (young entrepreneurs, small holder farmers, small-scale forestry professionals and vulnerable households) thanks to the implementation of "tailored and innovative solutions".
In 2023, the projects managed by ADA reached 100,000 new beneficiaries of financial services, 20,000 new beneficiaries of capacity building, 15,000 new beneficiaries of market access solutions and 800 new beneficiaries of access to basic services, the vast majority of whom were vulnerable households. In total, this brought the number of new beneficiaries impacted by ADA programmes between 2022 and 2023 to 336,000.
Each year, ADA noted it strengthens its ability to measure and track the impact of its actions through knowledge management activities. This ongoing commitment to maximising its impact is an example of how inclusive finance can effectively leverage financial and non-financial innovative solutions to provide a targeted response to specific needs and thus reduce vulnerability.
The launch of FIT (Financing Innovation Tool), which ended the year with three completed investments, was another highlight of the year 2023. FIT illustrated ADA’s ability to develop innovative, flexible and tailored tools to drive impact investing. In addition, it further enhanced the impact of its partnerships. For example, its support for the Luxembourg Cooperation via the collaboration with LuxDev enabled the non-profit organisation to expand its activities and increase its impact in Africa and Central America. At the same time, the Smallholder Safety Net Upscaling Programme (SSNUP) reportedly financed 34 projects in support of 119 organisations.
Another reported highlight this year was the key role ADA played in organising the African Microfinance Week (SAM) in Togo, reaffirming the position the organisation holds in the financial inclusion ecosystem in Africa, while emphasising its commitment to promoting the sharing of knowledge and best practices, ADA concluded.
