3.5 Entrepreneurship,
Education and Financial Inclusion
(GRI 203-2, FS1, FS7, FS8, FS14, FS15) (SASB FN-CB-240a.1)
Ficohsa Group is committed to the well-being of the economy and its various sectors, promoting initiatives that generate growth,
diversification, employment, and opportunities for all, encouraging entrepreneurship as a driver of development, accompanied by
education and financial inclusion.
Boosting entrepreneurship as a driver of development
DFC (U.S. International Development Finance Corporation) along with CITI, granted Ficohsa Group a loan of USD $250 million to support small and medium enterprises that dynamize the economy of Honduras, with a special focus on those led by women.
This funding represents the most important in Central America and the second largest in Latin America, reaffirming the commitment to continue fostering inclusive and sustainable growth in the region.
As a second phase for the placement of these funds, the “Tu Empresa Llega Lejos” program has been set up targeting three sectors:
– Agro-industry, production and manufacturing.
– Education, health and trade.
– Construction and renewable energy.
Aimed at: Entrepreneurial clients, corporate clients, business and women banking clients, o ering the best rates in the market.
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3.5.1 Mujeres Adelante
A program designed to promote the empowerment, inclusion, and development of women in Honduras, Guatemala, and Panama,
providing them with tools and opportunities to strengthen their skills and access financial products and non-financial services.
This year, new partnerships were signed with the We3A program, Vital Voices Honduras, and Torre Metrópolis’ Mercado Fest to provide spaces for entrepreneurs in the program who o er fresh and artisanal products. These partnerships will benefit many more women entrepreneurs.
This segment’s confidence in Honduras is reflected in the following indicators:
Complementary non-financial
services:
Aligned with the corporate purpose of “facilitating solutions that transform lives,” we continue to work on the pillars of non-financial services: Recognition, access to information, partnerships, networking, and education.
With the commitment to creating spaces for female entrepreneurs to sell and promote their products and services, the following were created:
Mujeres Adelante Award:
The third edition of the Mujeres Adelante Award, an event aimed at celebrating and supporting the fighting spirit of Honduran women, was held. More than 150 applications were received for diverse projects and inspiring stories.
The selection of the winners was a meticulous process that considered various criteria, including social impact, sustainability, innovation, and job creation, among others, thus highlighting an impressive array of skills and talents.
3.5.2 Hecho en Casa
This program was launched in 2013 with the goal of promoting initiatives that foster productive activities, entrepreneurship, innovation, and the growth of micro, small, and medium-sized enterprises (MSMEs).
Currently, more than 1,500 entrepreneurs/business owners are supported to reinforce the concept of buying homemade products. The goal is to support them and boost their growth. We are working to generate a sense of pride in consuming local products and raise awareness about purchasing habits by choosing products 100% made by Honduran hands, since by consuming locally, we all grow.
We have provided spaces, in partnership with the Saturday Bazaar, for the sale and promotion of these entrepreneurs’ products and services.
3.5.3 De Mi Tierra
In partnership with Supermarkets la Colonia and the Foundation for Rural Business Development (FUNDER), Ficohsa continues to promote this program to support the agricultural sector in Honduras, contributing to the integral development of small and medium-sized farmers.
The program provides financing, technical training and a secure market for the marketing of its products.
Historical
Indicators:
Important milestones:
– First Fairs “De Mi Tierra”, for sale of products to Ficohsa partners.
– Technical training for more than 85 farmers on pest and disease management and good agricultural practices in di erent crops.
– Signature of USAID-ConagroH agreement. ConagroH is the entity that unifies the farmers’ associations benefiting from the program.
– Support to new agricultural sectors, serving farmers engaged in the production of food of animal origin and value-added products.
Success stories 2024:
Maynor Perdomo: A producer with over 12 years of experience growing crops such as rambutan, malanga, pineapple, and cassava. Despite having special needs, he has overcome adversity and challenges by dedicating himself to farming with a lot of love and a desire to grow every day. Thanks to the support of the De Mi Tierra program, he went from growing 5 manzanas to 12 manzanas.
Félix Zelaya: A producer and founding member of “Hidropónia Las Crucitas,” originally from Marcala, La Paz. He is dedicated to the production of hydroponic crops such as di erent varieties of lettuce. Félix was in another country illegally and decided to return and invest in entrepreneurship through the use of technology. De Mi Tierra has been a key ally, promoting the adoption of these systems and allowing him to double his production, directly impacting his income and the well-being of his family and employees.
3.5.4 Other Entrepreneurship Initiatives
Asesuisa CREE Program
With the aim of contributing to micro and small businesses, Asesuisa has implemented the Asesuisa CREE program since 2020. The program stands for Competitiveness/Resilience/Business Strategy. The program seeks to strengthen entrepreneurs by providing tools, knowledge, and connections with experts to develop competencies and business strategies that enable them to make better decisions and achieve long-term sustainable growth.
During 2024, 4,000 entrepreneurs were impacted through 60 training events delivered in partnership with the Chamber of Commerce and other partners. In addition, 26 insured micro and small entrepreneurs were certified, improving their skills and capabilities in entrepreneurship and business development.
Young Entrepreneurs
Since 2022, the “Young Leaders of Impact for Central America” program has been supported through banking access, given the impacts and results achieved. They have also received support in entrepreneurship to continue promoting the growth, innovation, and development of small and medium-sized businesses in the country.
In a strategic alliance with the Tegucigalpa Chamber of Commerce and Industry (CCIT), the International Organization for Migration (IOM), and Glasswing International, 48 young entrepreneurs from the city of Tegucigalpa were trained in 2024. They will be trained using the methodology implemented for the Start and Improve Your Business (IMESUN) training process, which is certified by the International Labor Organization (ILO).
Ficohsa’s commitment to this initiative is to provide financial education and provide seed capital for entrepreneurship kits.
Likewise, the participating women will become part of the Mujeres Adelante Ficohsa Program and other programs promoted by the Group.
3.5.5 Financial Education
Ficohsa has a robust Financial Education Program (PEF) “Your Financial Awareness,” which has helped promote a culture of financial health among its customers, employees, and the community at large over the years through various initiatives that seek to encourage good management and use of personal finances.
This also promotes inclusion and banking, facilitating people’s access to financial services and products.
Historical
Indicators
Recognition for the “Most Inclusive” Stand at Financial Education Week, organized by the CNBS.
Highlighted Activities
Global Money Week: +464,700 children and young people reached through various initiatives, such as: Education and Cybersecurity Circuits, educational campaigns on social media, a podcast, and an international forum with Aflatoun.
Promoting opportunities to provide financial education talks to young university students: Partnerships with the National Autonomous University of Honduras, the Catholic University of Honduras, the Metropolitan University of Honduras, the Central American Technological University of Honduras, and young people from other elementary schools benefiting from the Ficohsa Foundation.
Establishing important strategic partnerships to provide financial education and inclusion to young people: Glasswing Honduras – Young Leaders of Impact Program for Central America, Creating My Future Here – USAID, Chambers of Commerce (CCIT/CCICH), and Ficohsa Foundation Communities.
Two seasons of the podcast Your Financial Well-being: Seasons two and three, together with Ali Kafie, have become a key format for fostering a solid financial culture. Through dynamic and accessible episodes, the podcast offers practical advice on personal finance management, savings, investments, and financial planning.
Ficohsa Group implemented the PEF impact assessment survey with a representative sample of active portfolio clients, highlighting:
3.5.6 Financial Inclusion
Social Impact through Financial Technology
In recent years, TENGO has been a key player in the modernization and transparency of financial inclusion in Honduras, facilitating the electronic disbursement of funds for various social programs. This technological platform has enabled vital resources to reach thousands of bene ciaries across the country quickly, securely, and eficiently.
To date, TENGO has disbursed more than $17 million in funds through various projects serving several local and international organizations. Over the next three years, it expects to participate in grants of nearly $40 million after signing an agreement with UNDP at the end of 2024.
Dedicated to transforming access to financial services in Honduras, it offers more than 100 payment types through the TENGO app and more than 5,000 service points. This allows it to reach and penetrate new markets and regions, enabling more people to access banking services through innovative financial services tailored to their customers’ needs.
The physical card is available in 17 departments of Honduras, in different channels and allies: supermarkets, pharmacies, convenience stores, own kiosks.
Reference in
Innovation
– Instant issue.
– Digital administration.
– Best loyalty program.
– More than 280 million COINS credited to clients rewarding their loyalty and use.
– No membership required.
TENGO has positioned itself as a pioneer in payment solutions
In 2024 TENGO processed its historical maximum and the physical network of TENGO points was consolidated as the most relevant of the financial system.
Strengthening financial inclusion in Honduras
Empowering self-employed workers, women, young people and new entrepreneurs.
TENGO is the #1 rechargeable card in Honduras