Menu
MEDA – Mennonite Economic Development Associates – is an international economic development organization that creates business solutions to poverty.
For 70 years, MEDA has been creating business solutions to poverty that are sustainable, scalable, measurable, and replicable. MEDA began as an association of Mennonite business people who believed they were called to be faithful in generously sharing their abilities and resources. Continuing in that Christian tradition, MEDA welcomes all who share our values and want to join us in our mission.
MEDA has worked in over 70 countries and brings a unique market systems approach to project design that integrates technical assistance and access to capital. We work alongside our partners and clients, funded by both private and institutional donors, striving to alleviate poverty by creating and sustaining decent jobs for women and men. Success is measured by income, improved processes, increased knowledge, and the creation of more decent work.
That all people may unleash their God‑given potential to earn a livelihood, provide for families and enrich communities.
MEDA creates business solutions to poverty.
MEDA – Mennonite Economic Development Associates – is an international economic development organization that creates business solutions to poverty.
For 70 years, MEDA has been creating business solutions to poverty that are sustainable, scalable, measurable, and replicable. MEDA began as an association of Mennonite business people who believed they were called to be faithful in generously sharing their abilities and resources. Continuing in that Christian tradition, MEDA welcomes all who share our values and want to join us in our mission.
MEDA has worked in over 70 countries and brings a unique market systems approach to project design that integrates technical assistance and access to capital. We work alongside our partners and clients, funded by both private and institutional donors, striving to alleviate poverty by creating and sustaining decent jobs for women and men. Success is measured by income, improved processes, increased knowledge, and the creation of more decent work.
That all people may unleash their God‑given potential to earn a livelihood, provide for families and enrich communities.
MEDA creates business solutions to poverty.
MEDA – Mennonite Economic Development Associates – is an international economic development organization that creates business solutions to poverty.
For 70 years, MEDA has been creating business solutions to poverty that are sustainable, scalable, measurable, and replicable. MEDA began as an association of Mennonite business people who believed they were called to be faithful in generously sharing their abilities and resources. Continuing in that Christian tradition, MEDA welcomes all who share our values and want to join us in our mission.
MEDA has worked in over 70 countries and brings a unique market systems approach to project design that integrates technical assistance and access to capital. We work alongside our partners and clients, funded by both private and institutional donors, striving to alleviate poverty by creating and sustaining decent jobs for women and men. Success is measured by income, improved processes, increased knowledge, and the creation of more decent work.
That all people may unleash their God‑given potential to earn a livelihood, provide for families and enrich communities.
MEDA creates business solutions to poverty.
It is with great pleasure that we share the FY23 Annual Report for MEDA. It reflects a year of resilience, growth, and unwavering commitment to our mission. Our collective efforts have propelled MEDA to create a lasting impact in our communities. Reflecting on the past year, we recall the strides we have taken to clarify our governance, reimagine our role, and localize our work to stay relevant.
We are thrilled to share our progress toward our bold goal of creating decent work opportunities for 500,000 people. Through strategic initiatives, innovative programs, and grassroots interventions, we have contributed to empowering individuals and communities to transform across the agri-food ecosystem. We have embraced the ethos of partnership, as no one organization has the solution for what is needed. We continue to encourage sustainable agribusinesses, ensuring food security and economic stability across our local and regional food systems.
As we note our achievements, we are humbled to mark MEDA’s 70th anniversary of creating business solutions to poverty. For seven decades, we have embraced innovation, harnessed the spirit of entrepreneurship, and championed the innate potential of individuals to uplift themselves and their families. This legacy is a testament to the enduring values that have guided us since our beginning, and it continues to inspire us as we forge ahead into the future.
None of it would have been possible without the collective dedication and passion of our team, partners, clients, and supporters. Our deepest gratitude to everyone who contributed to MEDA’s success, whether through time, expertise, or resources. Your unwavering commitment fuels our drive to contribute to lasting change.
In this report, you will find an overview of our achievements, our financial stewardship, and the stories of the lives and communities we continue to transform. Together, they weave a tapestry of progress, resilience, and the unyielding pursuit of a more just and equitable world.
As we reflect on FY23, we look ahead with optimism and determination. The challenges we face are ever evolving, but so too is our resolve to change the world. Together, we will drive innovation, expand our reach, and empower individuals and communities for a brighter future.
In closing, our deepest thanks to our partners, donors, board members, and supporters for their trust and commitment to MEDA. Your belief in our mission fuels our resolve. Thank you for being part of MEDA and for your devotion to our mission. Together, we will continue to make a meaningful impact in the world.
With gratitude,
Dr. Dorothy Nyambi is the President and CEO of MEDA. Dorothy is a thought leader in international development, devoted to creating dynamic organizations that respect diversity, equity and inclusion and succeed in times of challenge and change. Dorothy has experience providing knowledge-based, strategic leadership for effective implementation of an organization’s mission and goals. With a 25+ year career in the sector and applied governance experience, Dorothy’s work is founded on and informed by unique life experience and a commitment to authentic leadership.
With a Doctor of Medicine Degree from the University of Yaoundé, Cameroon, Dorothy has undertaken extensive research on capacity building, advancing gender equality in developing countries, and innovation economies around the world. Prior to joining MEDA, she was Executive Vice President of the African Institute for Mathematical Sciences (AIMS). Dorothy's professional experience includes strengthening business processes and mobilizing funding in support of grassroots movements, community impact, and diversity in Africa, North America, Eastern Europe, Asia, Latin America & Caribbean, and the Middle East.
Passionate about gender equality and inclusion, Dorothy has been a leader and founding member of Gender Summit Africa (Cape Town 2015 and Kigali 2018); member of AWID for the past 15 years; and board director at CAMFED Canada, Conrad Grebel University College, Kigali Collaborative Research Centre (KCRC) - Carnegie Mellon University, and chair of the IDRC board of governors. Dorothy is also a member of the Board Room Africa focused on mentoring and getting young African women into governance roles across the continent through selection, training and mentoring. She consistently demonstrates an ability to step forward and challenge the status quo, re-imagine and strengthen business processes, challenging old paradigms and programs in support of respectful human-centered design thinking.
Greg Gaeddert is a managing partner with B12 Capital Partners and B12 Real Estate Advisors - private equity investment firms located in Kansas City, Missouri. He has experience in investments focused on manufacturing, distribution and real estate-related entities. Greg has an operational background in manufacturing and commercial banking, with equity investment and fund management roles at Capital for Business and the B12-related entities. He has an MBA from the University of Kansas, and serves on the boards of numerous manufacturing, distribution, financial services and non-profit entities.
Greg is a firm supporter of MEDA and resonates with its work in blended finance. Greg and his wife, Terri, live in Leawood, Kansas. They have three sons and are members of Rainbow Mennonite Church in Kansas City.
MEDA is committed to measuring lasting impact. Gathering data on our work informs our decisions, adaptations, and interventions. By collecting and analyzing data, we are better positioned to respond to changing contexts and to contribute to the economic empowerment of our clients in meaningful ways. Check out Our Impact for more.
Net promoter scores measure satisfaction with an organization on a scale of -100 to +100. Above 30 is a great result!
While MEDA contributes to several Sustainable Development Goals (SDG), we focus in particular on SDG 8 – Decent Work and Economic Growth.
MEDA partners with local private, public, and civil society actors, strengthening individuals, institutions, communities, and ecosystems, thereby contributing to sustainable and inclusive systemic change. We gratefully acknowledge the generous support of our donors.
Africa Communications Group
Business Partners International
Criterion Institute
Danforth Centre
ESPartners
Genesis Analytics
Global Shea Alliance
Grow Asia
IITA
International Centre for Tropical Agriculture (CIAT)
Investisseurs & Partenaires (I&P)
Microvest
Philippines Partnership for Sustainable Agriculture (PPSA)
Pro Mujer
Sagana
Sarona Asset Management
Senegalese Institute for Agricultural Research (ISRA)
Southbridge Investments
Union des Institutions Mutualistes Communautaires d’Epargne et de Crédit (U-IMCEC)
Wakami
Waterloo Climate Institute (formerly IC3)
Women’s World Banking
Asian Venture Philanthropy Network (AVPN)
Aspen Network of Development Entrepreneurs (ANDE)
Canada Forum for Impact Investment and Development (CAFIID)
Canadian Association for International Development Professionals (CAIDP)
Canadian Coalition on Climate Change and Development (C4D)
Centre for Sustainable Climate Solutions (CSCS)
Coalition for Private Investment in Conservation (CPIC)
Collaboration for Frontier Finance (CFF)
Cooperation Canada
Decent Work for Equitable Food Systems Coalition
Food Security Policy Group (FSPG)
Global Impact Investing Network (GIIN)
Humentum
Society for International Development (SID)
SME Finance Forum
2X Global
| Country | Nicaragua | Nicaragua & Guatemala | Haiti | Phillipines | ||||
|---|---|---|---|---|---|---|---|---|
|
Country Project Name |
Nicaragua Technolinks+ |
Nicaragua & Guatemala Women’s empowerment for Central America (WE4CA) * |
Haiti Supporting high potential micro, small, and medium enterprises (MSMEs)in Haiti (ATTEINDRE– ATTAIN) |
Phillipines Resilience and Inclusion through Investment for Sustainable Agrikultura (RIISA)* |
||||
|
Country Funder |
Nicaragua Global Affairs Canada |
Nicaragua & Guatemala USAID |
Haiti Global Affairs Canada |
|||||
|
Country Decent Work |
Nicaragua – |
Nicaragua & Guatemala – |
Haiti 649 |
Phillipines – |
||||
|
Country Direct Clients |
Nicaragua 1,560 |
Nicaragua & Guatemala 837 |
Haiti 5,103 |
Phillipines 760 |
||||
|
Country Expenses |
Nicaragua $1,267,593 |
Nicaragua & Guatemala $774,892 |
Haiti $3,337,933 |
Phillipines $748,298 |
||||
| Country | Ghana | Nigeria | Senegal | ||
|---|---|---|---|---|---|
|
Country Project Name |
Ghana Farmers’ Economic Advancement through Seedlings (FEATS) |
Nigeria Greater Rural Opportunities for Women 2
(GROW 2) |
Senegal Youth Entrepreneurship and Women’s Empowerment in Northern Nigeria
(NIGERIA WAY) |
Adaptation et Valorisation Entrepreneuriales en Irrigation (et Agriculture) Rurales
(AVENIR) |
Initiative pour la Résilience Economique des Micro, Moyennes et Petites entreprises (IREM) |
|
Country Funder |
Ghana Global Affairs Canada |
Nigeria Mastercard Foundation |
|||
|
Country Decent Work |
Ghana 21,901 |
Nigeria – |
Senegal 79 |
32 |
11,464 |
|
Country Direct Clients |
Ghana 120,408 |
Nigeria 45,147 |
Senegal 17,861 |
4,399 |
11,077 |
|
Country Expenses |
Ghana $468,201 |
Nigeria $2,326,151 |
Senegal $2,451,997 |
$2,507,598 |
$799,780 |
| Country | Ethiopia | Kenya | Tanzania | Kenya/Rwanda | Tanzania/Uganda | |||
|---|---|---|---|---|---|---|---|---|
|
Country Project Name |
Ethiopia Ethiopians Motivating Enterprises to Rise in Trade and Agribusiness (EMERTA) |
Kenya Equitable Prosperity through Private Sector Development (EPTPSD – MSAWA) |
Tanzania Leveraging Equality for Gender-inclusive Economic Development (LEGEND) |
Kenya/Rwanda Virus Resistant Cassava for Africa Plus
(VIRCA Plus) |
Tanzania/Uganda Feminist Entrepreneurs Growing Green Economies (FEGGE) |
Leveraging Equality for Gender-inclusive Economic Development (BASICS II) |
VIRCA Deployment |
RTB (Roots, Tubers & Bananas) Accelerator for Rapid Propagation Innovations and Distribution Of Seeds (RAPID Banana) |
|
Country Funder |
Ethiopia Global Affairs Canada |
Kenya USAID & Danforth Center |
Tanzania Global Affairs Canada |
Kenya/Rwanda Bill & Melinda Gates Foundation |
||||
|
Country Decent Work |
Ethiopia 9,228 |
Kenya 2,327 |
Tanzania – |
Kenya/Rwanda 80 |
Tanzania/Uganda 93 |
490 |
– |
62 |
|
Country Direct Clients |
Ethiopia 16,172 |
Kenya 7,932 |
Tanzania – |
Kenya/Rwanda 20 |
Tanzania/Uganda 3,442 |
14,144 |
– |
7 |
|
Country Expenses |
Ethiopia $2,468,079 |
Kenya $979,170 |
Tanzania $1,243,342 |
Kenya/Rwanda $424,477 |
Tanzania/Uganda $1,941,360 |
$851,710 |
$173,993 |
$1,328,665 |
| Region | African Continent | Multi-Country | South-East Asia |
|---|---|---|---|
|
Region Project Name |
African Continent Mastercard Foundation Africa Growth Fund |
Multi-Country Trading Up |
South-East Asia Emerging Markets Impact Investing Fund (EMIIF) |
|
Region Funder |
African Continent Mastercard Foundation |
Multi-Country Global Affairs Canada |
South-East Asia Australian Department of Foreign Affairs and Trade |
|
Region Decent Work |
African Continent 722 |
Multi-Country 1,011 |
South-East Asia – |
|
Region Direct Clients |
African Continent 2 |
Multi-Country 2,566 |
South-East Asia 2 |
|
Region Expenses |
African Continent $9,164,986 |
Multi-Country $212,552 |
South-East Asia $168,233 |
To explore each of MEDA’s projects, check out our Where We Work page.
In today’s world, where population growth poses challenges to both food security and the environment, innovative solutions are vital. NovFeed, the 2022 co-winner of the MEDA Pitch Competition, is delivering one such solution to address the pressing issue of animal feed production and its impact on our planet. Founded by Diana Orembe, NovFeed is at the forefront of the fight against carbon dioxide emissions and the depletion of natural food sources.
With global population growth, the demand for fish protein is rising dramatically. Traditional fish feed production, which is reliant on fishmeal or soy, contributes to CO2 emissions and places immense pressure on limited resources. It is also a costly process, with fish farmers spending up to 70% of their production budget on expensive feed.
NovFeed offers a revolutionary protein feed solution that is nutritionally comparable to traditional fishmeal but without the need for wild-caught fish and farmed soy. Their innovative technology transforms organic waste – a potent greenhouse gas emitter – into protein using bacteria. This approach drives a circular economy and reduces the strain on our environment.
NovFeed’s technology also offers a solution to the global food crisis. By providing a sustainable, cost-effective, and nutritious alternative to traditional animal feed, NovFeed is contributing to a more secure and sustainable food future.
Following their success at the 2022 MEDA Pitch Competition, NovFeed wasted no time in harnessing the momentum and support they received. They rapidly scaled operations to meet the growing demand for their innovative feed solution, reaching regions where the environmental impact of traditional animal feed production is most present. They are also creating decent work opportunities by engaging their community in the production process. As they continue to innovate, NovFeed aims to expand their reach and make a significant impact on the aquaculture and meat sectors – creating jobs and promoting food security and environmental protection.
In today’s world, where population growth poses challenges to both food security and the environment, innovative solutions are vital. NovFeed, the 2022 co-winner of the MEDA Pitch Competition, is delivering one such solution to address the pressing issue of animal feed production and its impact on our planet. Founded by Diana Orembe, NovFeed is at the forefront of the fight against carbon dioxide emissions and the depletion of natural food sources.
With global population growth, the demand for fish protein is rising dramatically. Traditional fish feed production, which is reliant on fishmeal or soy, contributes to CO2 emissions and places immense pressure on limited resources. It is also a costly process, with fish farmers spending up to 70% of their production budget on expensive feed.
NovFeed offers a revolutionary protein feed solution that is nutritionally comparable to traditional fishmeal but without the need for wild-caught fish and farmed soy. Their innovative technology transforms organic waste – a potent greenhouse gas emitter – into protein using bacteria. This approach drives a circular economy and reduces the strain on our environment.
NovFeed’s technology also offers a solution to the global food crisis. By providing a sustainable, cost-effective, and nutritious alternative to traditional animal feed, NovFeed is contributing to a more secure and sustainable food future.
Following their success at the 2022 MEDA Pitch Competition, NovFeed wasted no time in harnessing the momentum and support they received. They rapidly scaled operations to meet the growing demand for their innovative feed solution, reaching regions where the environmental impact of traditional animal feed production is most present. They are also creating decent work opportunities by engaging their community in the production process. As they continue to innovate, NovFeed aims to expand their reach and make a significant impact on the aquaculture and meat sectors – creating jobs and promoting food security and environmental protection.
We do this by working at a systems level and in partnership with others. This ensures thriving businesses continue to evolve within a favorable enabling environment that can support their growth. The following two examples are from recently closed projects and spotlight the lessons MEDA learned.
Improved the economic well-being of women and men farmers working in four tree crops industries (cocoa, shea, cashew, and rubber) within 11 regions in Ghana. The project improved the productivity and income of farmers through access to improved seeds, planting techniques, markets, and business environments.
Tailored and fit-for-purpose capacity-strengthening programs, including mentoring, are most effective for driving business growth. Capacity strengthening in key business activities such as advertising and business record keeping is impactful in helping to build sustainable businesses. Women farmers also benefit from tailored interventions to increase their access to finance and grow their businesses.
$10.7M Global Affairs Canada
$11.5M MEDA Private Supporters
21,901 Jobs Created and Sustained
120,408 Individuals and Businesses Served
4,178,400 Cashew Seedlings Supplied to 24,240 Farmers
30% Increase in Cashew Tree Crop Value
28% Increase in Rubber Tree Crop Value
Contributed to Kenya’s economic growth and increased jobs for Kenyans by improving the business, environmental, and gender performance of small and medium-sized enterprises and small entrepreneurs.
M-SAWA required the cooperation and partnership of various stakeholders including governments, businesses, communities, and nonprofit organizations. These partnerships should be undertaken at the design phase of the project and not after the grant is awarded.
$18.3M Global Affairs Canada
$20.6M MEDA Private Supporters
54,314 Jobs Created and Sustained
55,742 Individuals Served
314 Businesses Served
MEDA made significant strides toward achieving our strategic objectives. We exceeded our decent work target for the year, and we remain on course to meet our ten-year goal of creating or sustaining decent work for 500,000 individuals in the Global South by 2023. Our commitment to delivering high-quality programs in the agri-food sector has remained unwavering, and we’ve deepened our programmatic approaches across key countries.
We’re actively working to ensure our systems, policies, processes, and design of initiatives are focused on putting in place the structural transformation MEDA needs to make to effectively redefine our role while ensuring an adequate shift of power from the Global North to the Global South. Working in partnership for complementarity and for systems-level change has also been a driving force in this transition to the Global South leading in the solutions that make the most difference for them.
Raphael is the owner and operator of Jerusalem Shop, a small agricultural equipment business in Haiti specializing in agricultural equipment for coffee, cacao, corn, and manioc – also known as cassava flour.
Raphael saw rising demand for his manioc processing machines over time but he was denied credit to expand his business. MEDA’s USAID ATTEINDRE project recognized this challenge and helped to improve productivity by growing the sector’s micro, small, and medium-sized enterprises (MSMEs).
During this initiative, Jerusalem Shop became a key player in strengthening the manioc value chain by providing equipment to producers. Raphael also began to expand the shop’s inventory including selling stoves to cook processed cassava. These included propane cookstoves, which are more cost effective and have a lower environmental footprint than Haiti’s traditional charcoal stoves.
Through Jerusalem Shop, communities in Haiti are learning the benefits of converting to propane cookstoves. Raphael was also supported in developing a business plan and was linked to a local financial institution to access credit and financial advice to purchase more inventory, expand Jerusalem Shop, and hire more workers.
Raphael’s business is one of 2,500 MSMEs in Haiti’s manioc sector supported by the ATTEINDRE project. Haiti’s manioc sector now has the chance to thrive – with the ATTEINDRE program supporting 649 decent jobs across the value chain.
Raphael is the owner and operator of Jerusalem Shop, a small agricultural equipment business in Haiti specializing in agricultural equipment for coffee, cacao, corn, and manioc – also known as cassava flour.
Raphael saw rising demand for his manioc processing machines over time but he was denied credit to expand his business. MEDA’s USAID ATTEINDRE project recognized this challenge and helped to improve productivity by growing the sector’s micro, small, and medium-sized enterprises (MSMEs).
During this initiative, Jerusalem Shop became a key player in strengthening the manioc value chain by providing equipment to producers. Raphael also began to expand the shop’s inventory including selling stoves to cook processed cassava. These included propane cookstoves, which are more cost effective and have a lower environmental footprint than Haiti’s traditional charcoal stoves.
Through Jerusalem Shop, communities in Haiti are learning the benefits of converting to propane cookstoves. Raphael was also supported in developing a business plan and was linked to a local financial institution to access credit and financial advice to purchase more inventory, expand Jerusalem Shop, and hire more workers.
Raphael’s business is one of 2,500 MSMEs in Haiti’s manioc sector supported by the ATTEINDRE project. Haiti’s manioc sector now has the chance to thrive – with the ATTEINDRE program supporting 649 decent jobs across the value chain.
MEDA’s Risk Capital Fund (MRCF) investment assets contribute to poverty alleviation by coming alongside MEDA’s program work, supporting local economic growth, creating jobs and decent working conditions, and promoting gender equality. This portfolio of investments in viable small and medium-sized enterprises (SMEs) and funds in emerging markets brings a unique competitive advantage to MEDA’s work in the international development sector. The Fund prioritizes stakeholder returns above traditional shareholder returns. Although financial returns are essential to ensure we steward the funds we are blessed with (sustainable, evergreen), the most critical aspect of the MRCF is using the funds to align with MEDA’s impact goals.
Invest in impactful SMEs and funds to promote sustainable and equitable growth
An investment process that moves at the speed of our entrepreneurs
An investment approach that evolves with the rapidly changing global context
An evergreen fund reinvesting capital and investment returns into perpetuity
Note: In 2023, MEDA changed its accounting methodology from market value to book value. These figures are as of June 30, 2023.
Investee | Country/Region | Book Value (US$) | Fair Market Value (US$) |
DIRECT EQUITY | |||
BPI East Africa | South Africa | 1,526,402 | 1,515,978 |
CODIPSA | Paraguay | 1,232,040 | 1,450,531 |
EFAG | Tanzania | 1,054,004 | 921,752 |
IMON | Tajikistan | 1,449,921 | 1,477,191 |
MiCredito | Nicaragua | 2,522,041 | 3,149,796 |
Mountain Lion Agriculture | Sierra Leone | 534,930 | 257,950 |
Sarona Asset Management | Global | 1 | 345,888 |
SFF (Fonkoze) | Haiti | 125,910 | 103,696 |
TOTAL DIRECT EQUITY | 8,445,249 | 9,222,782 | |
DIRECT DEBT | |||
Mountain Lion Agriculture | Sierra Leone | 169,714 | 176,597 |
Living Trust Land Donation | US | 293,705 | 293,705 |
Sarona Asset Management | Canada | 95,047 | 95,047 |
U-IMCEC | Senegal | 500,000 | 510,863 |
BPI | Kenya | 339,127 | 339,127 |
TOTAL DIRECT DEBT | 1,397,593 | 1,415,339 | |
INVESTMENT FUNDS | |||
Microvest Plus | Global | 87,268 | 92,965 |
Microvest Enhanced Debt Fund | Global | 1,000,000 | 998,910 |
Sarona's SFMF1 | Global | 2,073,344 | 1,598,918 |
Sarona's SGGM1 | Global | 2,823,402 | 3,290,314 |
Sarona's SGGM2 | Global | 1,548,940 | 2,335,249 |
SEAF Flex Fund | East Africa & Tanzania | 125,001 | 124,456 |
WWB Fund I | Global | 995,919 | 977,545 |
WWB Fund II | Global | 672,678 | 678,010 |
Other | 291,948 | 279,966 | |
TOTAL FUNDS | 9,618,500 | 10,376,333 | |
TOTAL | 19,461,342 | 21,014,454 |
As at June 30, 2023 (stated in ‘000s US Dollars)
Current assets | MEDA Risk Capital Fund 2023 | MEDA Operations 2023 | Total 2023 | Total 2022 |
| Cash and short-term deposits | 2,261 | 52,459 | 54,720 | 60,427 |
| Accounts receivable and prepayments | 21 | 393 | 414 | 434 |
| Advances to country programs and partners | - | 9,205 | 9,205 | 4,897 |
| Total current assets | 2,282 | 62,057 | 64,339 | 65,758 |
Long-term assets | MEDA Risk Capital Fund 2023 | MEDA Operations 2023 | Total 2023 | Total 2022 |
| Investments | 19,462 | - | 19,462 | 20,308 |
| Capital assets | - | 750 | 750 | 1,457 |
| Total long-term assets | 19,462 | 750 | 20,212 | 21,765 |
| Total Assets | 21,744 | 62,807 | 84,551 | 87,523 |
Current liabilities | MEDA Risk Capital Fund 2023 | MEDA Operations 2023 | Total 2023 | Total 2022 |
| Accounts payable and accrued liabilities | 154 | 7,880 | 8,034 | 610 |
| Deferred revenue | - | 49,960 | 49,960 | 57,556 |
| Due to country programs and partners | - | 271 | 271 | 416 |
| Total current liabilities | 3,107 | 58,111 | 61,218 | 60,048 |
Long-term liabilities | MEDA Risk Capital Fund 2023 | MEDA Operations 2023 | Total 2023 | Total 2022 |
| Loans payable | 1,000 | - | 1,000 | 3,000 |
Net assets | MEDA Risk Capital Fund 2023 | MEDA Operations 2023 | Total 2023 | Total 2022 |
| Unrestricted | 17,637 | 4,696 | 22,333 | 24,475 |
| 21,744 | 62,807 | 84,551 | 87,523 |
For the Year Ended June 30, 2023 (stated in ‘000s US Dollars)
Programming Revenue | MEDA Risk Capital Fund 2023 | MEDA Operations 2023 | Total 2023 | Total 2022 |
| Development programs | - | 24,699 | 24,699 | 25,846 |
| Fund of fund programs | - | 9,233 | 9,233 | 232 |
| Private contributions | 1,016 | 6,178 | 7,194 | 9,201 |
| Other revenue | - | 412 | 412 | 88 |
| Total revenue | 1,016 | 40,522 | 41,538 | 35,367 |
Programming Expenses | MEDA Risk Capital Fund 2023 | MEDA Operations 2023 | Total 2023 | Total 2022 |
| East & Central Africa | - | 9,502 | 9,502 | 8,612 |
| West Africa | - | 17,040 | 17,040 | 7,279 |
| Latin America & Asia Pacific | - | 6,115 | 6,115 | 7,872 |
| Total program expenses | - | 32,658 | 32,658 | 23,763 |
Supporting services | MEDA Risk Capital Fund 2023 | MEDA Operations 2023 | Total 2023 | Total 2022 |
| Management & General | 557 | 7,423 | 7,980 | 6,240 |
| Fundraising/Constituent Engagement | - | 2,590 | 2,590 | 2,314 |
| MRCF Investment Expenses | 183 | 373 | 557 | 669 |
| Total supporting services | 740 | 10,387 | 11,127 | 9,223 |
| Total expenses | 740 | 43,045 | 43,785 | 32,986 |
| Operating (deficit)/surplus | 276 | (2,523) | (2,247) | 2,381 |
| Currency adjustments | - | 44 | 44 | (45) |
| Gains/losses on investments | (466) | 316 | (149) | 682 |
| Non-operating gains/losses | (466) | 360 | (106) | 637 |
| Total (deficit)/surplus | 742 | (2,883) | (2,141) | 1,744 |
| Unrestricted assets - Beginning of the year | 16,895 | 7,579 | 24,475 | 22,731 |
| Unrestricted assets - End of the year | 17,637 | 4,696 | 22,333 | 24,475 |
In the face of ongoing global economic challenges, MEDA’s mission to combat poverty through innovative business solutions is more crucial than ever. We are deeply grateful for the unwavering support of our committed donors, partners, and volunteers. With your generous contributions, MEDA continues to empower entrepreneurs worldwide, providing them with essential resources to cultivate thriving farms and businesses.
Your support is the driving force behind MEDA’s transformative impact on agri-food market systems. Together, we are not only assisting individual entrepreneurs, but also catalyzing systemic changes that uplift and sustain entire communities. Your dedication fuels our mission, and we extend our heartfelt gratitude to you for making this possible. Thank you!
In November 2022, MEDA was thrilled to once again host an in-person Convention in Lancaster, Pennsylvania. Donors, colleagues, clients, and partners from around the globe joined us to explore and discuss the intersection of work, faith, and international development.
Convention 2022: Celebrating Entrepreneurs hosted 371 attendees as we joined together to celebrate the transformative power of entrepreneurship.
We are very grateful to our Network Hubs – affinity groups of supporters throughout North America, actively engaged in and passionate about MEDA’s mission to provide business solutions to poverty. Our Hubs were eager to connect post-pandemic. There were 30 community events held throughout Canada and the United States.
If you haven’t already checked out this incredible networking opportunity, we invite you to learn more by connecting with a MEDA Network Hub near you!
Greg Gaeddert – Chair
Kansas, USA
Jeremy Showalter – Vice Chair
Washington, USA
Karin Krahn – Treasurer
Alberta, Canada
Jim Miller – Secretary
Florida, USA
Andrea Kuhl
Manitoba, Canada
Andreas Quiring
Bonn, Germany
Bethany Fosdyck
Illinois, USA
Brent Gingerich
Ontario, Canada
Crystal Weaver
Pennsylvania, USA
Elke Horsch
Schwandorf, Germany
Ferdinand Rempel
Friesland, Paraguay
Janet Andres
British Columbia, Canada
Jenny Shantz
Ontario, Canada
Jim Alvarez
Indiana, USA
Marianne Unruh
California, USA
Myrl Nofziger
Indiana, USA
Rob Schlegel
Ontario, Canada
Verda Beachey
Florida, USA
Rob Schlegel – Chair
Ontario, Canada
Albert (Bert) Friesen – Vice Chair
Manitoba, Canada
Karin Krahn – Secretary / Treasurer
Alberta, Canada
Chad Horning
Indiana, USA
Patricia Erb
Ontario, Canada
Ryan Good
Ontario, Canada
Tara Proper
Ontario, Canada
Jim Miller – Chair
Florida, USA
Crystal Weaver – Vice Chair
Pennsylvania, USA
Bethany Fosdyck – Secretary
Illinois, USA
Andreas Quiring – Treasurer
Bonn, Germany
Myrl Nofziger
Indiana, USA
Verda Beachey
Florida, USA
Gary Leis – Chair/ Secretary / Treasurer
Ontario, Canada
Robert Shuh
Ontario, Canada
John Schroeder
British Columbia, Canada
Gregory Gaeddert
Kansas, USA
Rob Schlegel
Ontario, Canada
Rebecca Smid
Kansas, USA
Albert (Bert) Friesen – Chair
Manitoba, Canada
Gregory Gaeddert
Kansas, USA
Jenny Shantz
Ontario, Canada
Marianna Unruh
California, USA
Caroline Leclezio
Mauritius
Thierry Koenig
Mauritius
Wendy Clayson
Ontario, Canada
MEDA brings together a group of multi-faith staff, partners, institutional donors, and a committed group of private donors from around the world, including a large segment of Christian donors that collectively align around our four core values.
MEDA’s strength continues to be its people. The dedication, expertise, and collaborative spirit of our global team helped us to exceed our targets for the year and to make important strides towards our strategic goal.
We value inclusive and diverse partnerships. We build relationships of trust and peace.
We manage human, financial and environmental resources with care and integrity.
We treat clients, colleagues and partners with respect and dignity.
We partner with entrepreneurial people experiencing poverty to attain business success.
We are grateful for the commitment and contributions of all MEDA staff to enriching our organization and the lives of those we aim to support. If you are driven to make a global impact with your career, we invite you to explore our current opportunities.
Mennonite Economic Development Associates is an international economic development organization that creates business solutions to poverty.
MEDA International is a Canadian non-share capital not-for-profit corporation incorporated under the Canada Not-for-profit Corporations Act.
Mennonite Economic Development Associates is a 501(c)(3) status non-profit organization in the United States: EIN 23-7398678.
Mennonite Economic Development Associates of Canada is a registered charity in Canada: No. 107 691 057 RR0001.
© 2023 Mennonite Economic Development Associates (MEDA). All Rights Reserved.
