Hershey’s Supports Village Savings and Loan Associations to Propel Local Business Growth
Hershey's Cocoa For Good program supports Village Savings and Loan Associations (VSLAs) in Côte d'Ivoire, helping local businesses grow. The PR highlights the success story of Madame Coulibaly, who joined a VSLA in 2020 and used loans up to $1,000 to expand her shop and start a profitable poultry business. VSLAs, championed by international organizations, aim to raise incomes in rural areas where formal banking is scarce.
In 2023, CARE assessed 298 VSLAs in Hershey's supply chain, identifying 200 as functioning effectively and suitable for further capability building. These initiatives support household savings, access to finance, and entrepreneurial skills, particularly benefiting women and their families.
Il programma Cocoa For Good di Hershey supporta le Associazioni di Risparmio e Prestito (VSLAs) in Costa d'Avorio, aiutando le imprese locali a crescere. Il comunicato stampa evidenzia la storia di successo di Madame Coulibaly, che ha aderito a una VSLA nel 2020 e ha utilizzato prestiti fino a $1.000 per espandere il suo negozio e avviare un'attività redditizia di pollame. Le VSLAs, sostenute da organizzazioni internazionali, mirano a incrementare i redditi nelle aree rurali dove le banche formali sono scarse.
Nel 2023, CARE ha valutato 298 VSLAs nella catena di fornitura di Hershey, identificando 200 di esse come funzionanti e idonee per ulteriori opportunità di sviluppo. Queste iniziative supportano risparmi domestici, accesso al finanziamento e competenze imprenditoriali, beneficiando particolarmente donne e famiglie.
El programa Cocoa For Good de Hershey apoya a las Asociaciones de Ahorro y Préstamo (VSLAs) en Costa de Marfil, ayudando a las empresas locales a crecer. El comunicado destaca la historia de éxito de Madame Coulibaly, quien se unió a una VSLA en 2020 y utilizó préstamos de hasta $1,000 para expandir su tienda y comenzar un negocio rentable de avicultura. Las VSLAs, promovidas por organizaciones internacionales, tienen como objetivo incrementar los ingresos en áreas rurales donde la banca formal es escasa.
En 2023, CARE evaluó 298 VSLAs en la cadena de suministro de Hershey, identificando 200 de ellas como funcionales y adecuadas para un mayor desarrollo de capacidades. Estas iniciativas apoyan ahorros domésticos, acceso a financiamiento y habilidades empresariales, beneficiando especialmente a mujeres y sus familias.
허쉬의 Cocoa For Good 프로그램은 코트디부아르의 마을 저축 및 대출 협회(VSLAs)를 지원하여 지역 비즈니스의 성장을 도모합니다. 보도자료는 2020년에 VSLA에 가입한 마드무아젤 쿨리발리의 성공 사례를 강조하며, 그녀는 최대 $1,000의 대출을 이용해 자신의 가게를 확장하고 수익성 있는 양계 사업을 시작했습니다. VSLAs는 국제 기구에 의해 지지되며, 형식적인 은행업무가 부족한 농촌 지역의 소득 향상을 목표로 하고 있습니다.
2023년에는 CARE가 허쉬의 공급망에서 298개의 VSLAs를 평가하고, 그 중 200개가 효과적으로 기능하고 추가적인 역량 강화에 적합하다고 확인했습니다. 이러한 이니셔티브는 가계 저축, 금융 접근성 및 기업가 정신을 지원하며, 특히 여성과 그 가정에 혜택을 줍니다.
Le programme Cocoa For Good de Hershey soutient les Associations de Village d'Épargne et de Crédit (VSLAs) en Côte d'Ivoire, aidant les entreprises locales à se développer. Le communiqué met en avant l'histoire de réussite de Madame Coulibaly, qui a rejoint une VSLA en 2020 et a utilisé des prêts allant jusqu'à 1 000 $ pour agrandir son magasin et lancer une activité rentable dans la volaille. Les VSLAs, soutenues par des organisations internationales, visent à augmenter les revenus dans les zones rurales où la banque formelle est rare.
En 2023, CARE a évalué 298 VSLAs dans la chaîne d'approvisionnement de Hershey, identifiant 200 d'entre elles comme fonctionnant efficacement et adaptées à un renforcement ultérieur des capacités. Ces initiatives soutiennent les économies domestiques, l'accès au financement et les compétences entrepreneuriales, bénéficiant particulièrement aux femmes et à leurs familles.
Im Jahr 2023 bewertete CARE 298 VSLAs in der Lieferkette von Hershey und identifizierte 200 als effektiv funktionierend und geeignet für weitere Kapazitätsentwicklung. Diese Initiativen unterstützen haushaltliche Ersparnisse, Zugang zu Finanzmitteln und unternehmerische Fähigkeiten und kommen insbesondere Frauen und ihren Familien zugute.
- Hershey's Cocoa For Good program supports local business growth through VSLAs
- VSLAs provide access to loans up to $1,000 for business expansion
- 200 VSLAs identified as functioning effectively in Hershey's supply chain
- Initiative supports household savings and entrepreneurial skills development
- None.
NORTHAMPTON, MA / ACCESSWIRE / August 21, 2024 / The Hershey Company
Originally published in Hershey's 2023 ESG Report
VSLAs Help Local Businesses Grow
Madame Coulibaly has lived with her farming husband and 12-year-old son in Lôh-Djiboua, Côte d'Ivoire, since 2012. She opened a shop selling shoes, textiles, fabrics, bed sheets, mattresses, bags and more.
Looking for ways to grow her business, she joined a Cocoa For Good-supported VSLA in 2020. As a VSLA member, she accessed a series of loans of up to
In December 2022, she added a poultry business with a capacity of 1,250 chicks. This nets more than
Being able to grow her business, using VSLA finance, has not only stabilized her shop and diversified her offerings, but has also enabled her to bring on an employee to help run it. She is currently working toward becoming a wholesale distributor of goods to supply other merchants in her region.
Village Savings & Loan Associations
VSLAs are championed by international humanitarian organizations as a way to raise incomes in rural areas where formal banking services are typically not available.
These community-based groups build social cohesion and increase economic stability through member-based savings and loans. Through VSLAs, CARE is supporting women and their families to increase:
Household savings and access to finance
Entrepreneurial, leadership and financial literacy skills
In 2023, CARE assessed 298 VSLAs in Hershey's supply chain, engaging 690 community leaders. They identified 200 VSLAs as functioning effectively and suited to further capability building. These VSLAs are managing savings and loans effectively, but can benefit from support linking them to the formal financial sector.
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SOURCE: The Hershey Company
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FAQ
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