Oikocredit, Karongi and Muganza Kivu Tea Factories to produce two million high-quality tea seedlings in Rwanda
Ging Ledesma, Director of Social Performance Innovation
Most of the funding for this project comes from investors from Oikocredit’s West German Support Association, showing yet again how close smallholder farmers are to Oikocredit investors’ hearts.
Oikocredit International Support Foundation has signed a memorandum of understanding (MoU) with Karongi and Muganza Kivu tea factories in Rwanda to produce two million seedlings. The funds for this two-year project, worth around € 140,000, were mostly raised through Oikocredit’s West German Support Association.
Karongi Tea Factory and its sister factory Muganza-Kivu source, process and market the green tea leaves coming from two farmer cooperatives Katecogro and Cothemuki. The two million seedlings will be distributed to 2,000 smallholder farmers who will be selected by Cothemuki and Katecogro. Participants will be equipped with skills on the best practices in tea farming through farm-based demonstrations and other practical learning methodologies.
Ging Ledesma, Oikocredit’s Director of Social Performance Innovation, added: “Oikocredit seeks to work with and support organisations that focus on helping disadvantaged people to sustainably improve their income. We are pleased to have found such partners as Karongi and Muganza Kivu Tea Factories. Both organisations are running programmes that give back to the farmers and communities where they work. I also extend my gratitude to the investors who contributed to this project and ensured we can increase our social impact in the Rwandan tea sector.”
- 27 octubre 2020 - Oikocredit invests in Brazilian fintech BizCapital as part of a USD 15 million funding round
- 14 octubre 2020 - How Oikocredit is supporting smallholder farmers through the pandemic [video]
- 06 octubre 2020 - Oikocredit, Karongi and Muganza Kivu Tea Factories to produce two million high-quality tea seedlings in Rwanda