MEDA Canada Annual Report – 2022

We invite you to read or download the 2022 Annual Report. Thank you, once again, for your invaluable support. Because of you, we continue to work and partner with ‘agripreneurs’ across the world to sustain and create decent jobs for themselves and others.

MEDA Annual Report – 2022

We invite you to read or download the 2022 Annual Report. Thank you, once again, for your invaluable support. Because of you, we continue to work and partner with ‘agripreneurs’ across the world to sustain and create decent jobs for themselves and others.

MEDA Canada Annual Report – 2021

What do the words, “Rising Together” mean to you? For MEDA, it is a clear affirmation of its mission. It is by working together, as an organization and with its generous supporters and partners, that MEDA can rise above the challenges of COVID-19 to provide support to entrepreneurs and farmers in the Global South and beyond.

MEDA is pleased to share with you that it has weathered another unpredictable and challenging year and emerged stronger than before. Enclosed in this year’s report is a high-level overview of its projects, and a glimpse into the impact that you have made in the lives of our clients in various countries around the world living in poverty. MEDA continues to successfully support farmers and small business owners with the tools, training and access to finance they need to strengthen and improve their enterprises and livelihoods. As a further reflection of this year’s achievements, financial statements are also included at the end of this document. They provide a detailed overview of our financial health, which remained strong and stable.

Finally, this year’s Annual Report reflects the progress MEDA is making at achieving its goal of creating or sustaining decent work for 500,000 people by 2030, as outlined in our Towards an Equal World Strategic Plan. Its goal is fully aligned with the UN’s Sustainable Development Goal #8- Full and productive employment and decent work for all.

Read more or download the latest Annual Report here. Thank you, once again, for your essential support: because of you, MEDA rose together in 2021 to continue supporting people with the means to fulfill their God-given potential.

MEDA Annual Report – 2021

What do the words, “Rising Together” mean to you? For MEDA, it is a clear affirmation of its mission. It is by working together, as an organization and with its generous supporters and partners, that MEDA can rise above the challenges of COVID-19 to provide support to entrepreneurs and farmers in the Global South and beyond.

MEDA is pleased to share with you that it has weathered another unpredictable and challenging year and emerged stronger than before. Enclosed in this year’s report is a high-level overview of its projects, and a glimpse into the impact that you have made in the lives of our clients in various countries around the world living in poverty. MEDA continues to successfully support farmers and small business owners with the tools, training and access to finance they need to strengthen and improve their enterprises and livelihoods. As a further reflection of this year’s achievements, financial statements are also included at the end of this document. They provide a detailed overview of our financial health, which remained strong and stable.

Finally, this year’s Annual Report reflects the progress MEDA is making at achieving its goal of creating or sustaining decent work for 500,000 people by 2030, as outlined in our Towards an Equal World Strategic Plan. Its goal is fully aligned with the UN’s Sustainable Development Goal #8- Full and productive employment and decent work for all.

Read more or download the latest Annual Report here. Thank you, once again, for your essential support: because of you, MEDA rose together in 2021 to continue supporting people with the means to fulfill their God-given potential.

MEDA Annual Report – 2020

This has been an extraordinary year at MEDA!

The staff and board, in consultation with our stakeholders, developed the strategic plan – Towards An Equal World – and reaffirmed our mission of creating business solutions to poverty. We strengthened the approach by focusing on agri‐food systems building on our Mennonite roots and 65+ years of achievement. MEDA is committed to staying strong and relevant in a constantly changing world while engaging with our donors, funders, clients, and partners in new and exciting ways.

In early 2020, the global pandemic changed our world significantly, bringing on new challenges but also opportunities for our vision. MEDA staff and partners took the time to pause, regroup and reimagine what it will mean to deliver technical assistance and access to finance while ensuring the safety and health of all. We could not have predicted the change in our operating environment. Gratitude abounds for the unwavering commitment of our staff around the world and you, our supporters.

Despite the global implications of COVID‐19 and the devastating setbacks in eradicating poverty, we remain committed to our mission. It has been incredible to hear stories of creativity and resilience spring out of adversity. We look forward to “building back better” to achieve impactful change for those who need it most. As always, in all our work we endeavor to seek strong partners, to create innovative solutions, to follow the data, and to scale what has been proven to work.

Our year‐end financial results as of June 30, 2020 were strong and show continued stability, as outlined in the audit results in this report. The progress we made was only possible because of our members, institutional funders, partners, and supporters. Your ongoing support and advocacy enable us to contribute to the lasting impact that is needed to allow people to create opportunities for a better life and lift themselves out of poverty.

Of course, I don’t mean your giving should make life easy for others and hard for yourselves. I only mean that there should be some equality. Right now, you have plenty and can help those who are in need. Later, they will have plenty and can share with you when you need it. In this way, things will be equal.”

–2 Corinthians 8:13-14 (NLT)

Thank you to our members for your engagement in the local network hubs, telling others about MEDA, and sharing your blessings to change lives.

As you read through this report, we invite you to see yourself as a partner in our journey. Stories from our clients demonstrate how your support enables MEDA to build thriving economies that benefit whole communities. We look forward to our continued partnership with you as we move together towards an equal world.

Wishing you safety and health.

Sincerely,

Jenny Shantz
Chair, Board of Directors

Dr. Dorothy Nyambi
President & Chief Executive Officer

MEDA Annual Report – 2019

2018/19 was an exceptional year for MEDA. Through our partnerships and work, we continued to contribute in addressing poverty in developing countries and to the sustainable development goals for a better and more sustainable future for all by 2030. We also welcomed a new President and CEO taking up the reigns of leadership alongside an experienced leadership team.

This year, MEDA’s Annual Convention theme of “Taking the Leap” reflects the important point we are at in our story. Today, we celebrate a milestone. Four years ago, MEDA and our supporters took a bold leap with the launch of the Building Enduring Livelihoods Campaign to raise $50 million in gifts and gift intentions to provide resources to 10 million people to strengthen their livelihoods. We are overjoyed to announce that, as of the end of October 2019, we are very close to that goal at $49 million, a year ahead of schedule. We are humbled by your trust and generous support. Thank you!

“For God has not given us a spirit of fear and timidity, but of power, love, and self-discipline.” —2 Timothy 1:7 (NLT)

The stories in this report highlight our clients and our contribution to impact, demonstrating how your support enables MEDA to contribute to building thriving economies that benefit everyone. They illustrate our development approach, the faithful dedication of our donors, and how we work for sustainable change.

Despite the seemingly insurmountable challenges we face around the globe today, we have made progress and we believe we can beat the odds. It is time to take what we have learned in over six decades of experience in sustainable economic development, to catalyze and unleash the entrepreneurial ability of the millions more who request to be uplifted in this way. Committed to the values of our Mennonite heritage, it is a time for MEDA to take the leap and be bold and intentional in our next steps, solidify our position as experts in our industry, share our methods, work at scale and broaden our impact on our world.

We are grateful for the commitment of our staff, partners, private donors and institutional funders. It is through your generosity and hard work that we can come alongside our clients around the world, making a real and lasting impact on their lives. We invite you to join us in “taking the leap” to challenge the status quo and work with people experiencing poverty to build sustainable livelihoods for themselves. We look forward to traveling the road ahead with you.

Sincerely,

Tim Penner
Chair, Board of Directors

Dr. Dorothy Nyambi
President & Chief Executive Officer

MEDA Annual Report – 2018

Executive view

For over 65 years, MEDA has continued to grow, learn and innovate. We remain steadfast in our aim to create business solutions to poverty.

FY18 has been a year of transition: We moved deeper into implementing newer projects, and concluding others. While we prepared to move to new offices in Waterloo, we also searched for a new CEO as Allan Sauder approaches retirement in December. We are excited that Dr. Dorothy Nyambi will be joining us Nov 26 as Allan’s replacement.

Allan’s departure comes at a time of significant strength for MEDA, having achieved – through the determination and hard work of our staff – a 23% increase in revenue over last year with enough reserves to increase the Sarona Risk Capital Fund by over $2 million. We served almost 103 million families through our work with 401 partners in 62 countries in FY18.

We are exceedingly grateful to our loyal and generous supporters, who gave 31% more than last year. It is truly remarkable and brings us ever closer to our five-year campaign goal of raising $50 million to help 10 million families.

In keeping with the convention theme of Intersections, we find ourselves at the crossroads of a compelling legacy with a future that promises exciting new horizons for MEDA – one that offers many opportunities to bring hope and sustainable livelihoods to millions more families living in poverty in many parts of the globe.

Tim Penner
Chair

“Every time I visit one of our field programs I come away more convinced than ever that unleashing entrepreneurial potential, especially of young people, is the most sustainable way to help poor families realize a better life. I am so grateful to have been a part of this for the past 31 years, and I know that the MEDA team under new leadership will continue to find new and creative ways to achieve even better results. I look forward to becoming a cheerleader.”

Allan Sauder
President

MEDA Annual Report – 2017

Executive view

Once again, we are happy to have good news to share. It is a pleasure to report on a successful year of creating business solutions to poverty.

We are grateful to our worldwide MEDA team, who are committed and have worked so hard to ensure that we met and even exceeded our FY17 goals.

MEDA’s positive impact continues to expand. This year with your generous support we were able to help 91 million families in 60 countries through our work with 322 partners. In addition to the 615,000 lead firms, farmers and entrepreneurs served by our projects, small and medium enterprises where MEDA has an investment served 90.6 million customers.

The center spread of this annual report illustrates four particular projects and the way in which we quickly multiply the impact when we scale up our work and maximize the power of our investments.

We are exceedingly grateful for our philanthropic MEDA supporters, whose generosity resulted in a record high $6.5 million in private contributions.

We are particularly gratified as we embark on a large, five-year campaign to raise $50 million to support our mission of creating business solutions to poverty. Funding from institutional donors multiplied the impact of your gifts, for a total budget of $27.2 million.

With our customary stewardship and judicious use of these gifts, we realized a healthy $948,000 operating surplus, in addition to a $1.67 million equity gain in our Sarona Risk Capital Fund, where it will be invested again and again.

MEDA continues to work toward a more just and peaceful existence by building bridges. The bridges we build are the ties between people and communities, partnering and collaborating to strengthen local organizations, businesses, entrepreneurs and their families – bridges that increase understanding and strengthen our relationships. We do this by improving lives and livelihoods, because enduring livelihoods are vital to long-term peace and economic growth.

We are grateful for the very committed staff and the continued trust and faithful generosity of our loyal supporters in the sharing of your gifts of time, talent and financial support.

Thank you for your steadfast commitment, for walking alongside us, and with people living in poverty, to build bridges to enduring livelihoods.

Allan Sauder, President
Albert Friesen, Chair

MEDA Annual Report – 2016

New strategic directions cap exciting year of growth. Doubling down on business with B2 will help MEDA continue to unleash people’s God-given potential.

We are delighted to report on excellent FY16 results after a challenging year in FY15.

MEDA was able to generate a positive bottom line this year. This is thanks in no small part to our generous individual MEDA supporters, plus the determination and hard work of our staff and board of directors, and the trust of our institutional donors.

With the development of our new strategic directions, summed up as Business to the Power of Two, we are confident that we are well-positioned to meet the needs of a changing world.

While our focus on sustainable livelihoods remains the same, the way we create sustainable livelihoods must change, too.

We aim to keep vulnerable poor families – especially in rural, agricultural areas – at the heart of our efforts. Livelihoods will be sustained by profitable business entities at a minimum of two market levels within a stronger ecosystem of entrepreneurship.

Our Mennonite values will continue to form the core of who we are and how we approach our work.

FY16 was a year of recovery and a move back into the black with a strong pipeline of contracts and projects and inspiring support from individual MEDA donors.

We helped 46 million families in 62 countries realize healthier, more economically sustainable lives. Working through 246 partners, we reached:

  • 45.7 million clients of microfinance institutions and enterprises where MEDA has invested;
  • and 149,000 farmers and entrepreneurs, with training, financial services and market access.

And that’s in addition to the clients of organizations we worked with in the past who continue to serve thousands of entrepreneurs long after MEDA is no longer directly involved.

This success was only possible through your gifts! We leveraged your $6.3 million in private contributions with government and foundation funding for a total budget of $22 million.

We invested Sarona Risk Capital Fund assets of $20 million ($8.2 million equity) in funds and companies, for total assets under management of $607 million – up 15% from last year.

We are pleased that this year we netted a surplus of $661,740 from an operating surplus of $848,118 and a loss of $186,377 in our Sarona Risk Capital Fund equity. Once again, the Sarona Risk Capital Fund loss is primarily due to global currency declines relative to the U.S. dollar.

Thank you once again for your faith in us, for your commitment to our mission of creating business solutions to poverty, and your support to help millions of families adapt to a changing world.

Allan Sauder, President
Albert Friesen, Chair

MEDA Annual Report – 2015

Executive view

Why leveraging for impact?
The business answer is that leveraging is simply good stewardship of resources.

We are leveraging by engaging funding and implementation partners in our work around the world. Leveraging is not simply for the sake of growth, but to achieve the greatest impact for the maximum number of families. Through leveraging, we are able to help more families realize their God-given potential.

Fiscal year 2015 was a challenging year for MEDA in comparison to the past decade, when we enjoyed strong growth and positive bottom lines on our financials. A number of factors combined to create a perfect storm:

  • A drop in major gifts;
  • The end of several major contracts and slow start-up of new projects; and,
  • Global currency declines that contributed to a loss in our investments;

Fortunately, we have the unwavering strong support of a Board of Directors with experienced business people who have weathered similar storms in their own enterprises. They are a beacon of support, giving generously of their time and wisdom. And we are so grateful that we have subsequently signed a significant number of new projects that will ensure our future growth.

This year we helped 36.5 million families in 52 countries realize healthier, more economically sustainable lives. Working through 233 partners, we reached:

  • 36 million clients of microfinance institutions and small and medium enterprises where MEDA has invested through a Sarona fund;
  • and nearly 66,000 farmers and entrepreneurs who received training, financial services and/or access to markets.

And that’s in addition to the clients of organizations we worked with in the past who continue to serve thousands of entrepreneurs long after MEDA is no longer directly involved.

Your contributions made this possible! We multiplied your $4.4 million in private contributions with government and foundation funding to achieve a total budget of $18.3 million.

We invested Sarona Risk Capital Fund assets of $18.5 million ($8.4 million equity) in funds and companies, for total assets under management of $550 million – up 18% from last year.

We are disappointed in this year’s overall loss of $1.9 million, arising from an operating loss of $1.1 million and a loss of $867,000 in our Sarona Risk Capital Fund equity. The Sarona Risk Capital loss is primarily due to global currency declines and a few investments that did not perform as expected.

We’re thankful for our supporters, our board, and our wonderful staff who work so hard and share so generously to keep MEDA at the leading edge of leveraging for impact. We invite you to join in this work.

Allan Sauder, President
Albert FriesenChair