IRADA Islamic Microfinance

Vision

• To be one of the top ten Islamic Microfinance Institutions worldwide.
  
  

Mission

• Contribution to sustainable economic development for low-income and economically active people in Sudan through outstanding performance in the field of Islamic Microfinance within a fair partnership with various partners.

Objectives

• Pioneering Financial Inclusion through Alternative Pathways: Embrace non-traditional financing models, including green finance initiatives, to empower underserved communities and accelerate sustainable development.
• Maximizing Beneficiary Success through Tailored Services: Deliver cutting-edge services designed to optimize profitability, ensuring beneficiaries achieve sustainable growth and long-term impact.
• Empowering Rural Women as Catalysts for Economic Growth: Elevate the productivity of rural women through targeted capacity-building programs, transforming them into key drivers of local and global economies.
• Building Value-Driven Food Security Solutions: Integrate value chain programs with innovative value-adding strategies, creating resilient systems that ensure food security and prosperity for all.
• Leveraging Modern Technologies to Revolutionize Industries: Introduce advanced technologies across various sectors, enhancing productivity, sustainability, and competitiveness in the local and then global marketplace.
• Transforming Production Environments through Innovative Youth Entrepreneurship programs: Empower the next generation of entrepreneurial youth by supporting innovative projects that reshape production environments, driving increased productivity, sustainability, and financial resilience. Through youth-led solutions, create dynamic ecosystems that harness creativity, modern technology, and sustainable practices to revolutionize traditional production systems.
• Accelerating Food Security through Collaborative Small-Scale Production: Engage small producers as pivotal players in food security, boosting production and creating inclusive, sustainable growth across the agriculture sector.

Target Groups

• Low-Income Individuals and Households
• People with limited or no access to traditional banking services.
• Low-income families need financial support for basic needs, emergencies, or small-scale business ventures.
• Micro-entrepreneurs and Small Business Owners
• Small-scale business owners looking for working capital, inventory purchases, or business expansion.
• Informal sector workers often lack access to credit from formal financial institutions.
• Rural Farmers and Agricultural Producers
• Smallholder farmers require loans for seeds, fertilizers, equipment, or irrigation systems.
• Agricultural cooperatives seeking financing for collective farming operations or agro-processing initiatives.
• Women and Female Entrepreneurs
• Women, especially in rural areas, are often excluded from formal financial systems.
• Female entrepreneurs aim to start or grow small businesses, with many microfinance programs offering gender-specific support.
• Youth and First-Time Entrepreneurs
• Young individuals starting businesses or entering the workforce may lack access to traditional loans or financial backing.
• Innovation-driven youth with projects that require microfinance support to get off the ground.
• Artisans and Craftspeople
• Small-scale artisans or craftsmen/women produce handmade goods, textiles, or local products that require capital for raw materials and distribution.
• Cooperatives and Community Groups
• Cooperative organizations pool resources to access microfinance for collective ventures in farming, production, or service delivery.
• Community-based groups are involved in mutual savings or rotating credit schemes.
• Urban and Rural Informal Workers
• Street vendors, market traders, or other informal workers who need access to capital to sustain or grow their micro-enterprises.
• Disadvantaged or Vulnerable Populations
• Marginalized groups such as refugees, Indigenous people, or individuals with disabilities face barriers to accessing traditional financial services.
• Individuals affected by crises (conflict, displacement, natural disasters) need financial assistance to rebuild their livelihoods.

IRADA Outreach

• The company covers 13 states in a number of 22 branches to serve the beneficiaries on a larger scale and to ensure that the services and products it offers reach the largest number, targeting the various sectors of finance whether the areas are characterized by an agricultural, animal, commercial or industrial activities.

Model of Products

• There are two main products that IRADA which focuses on financial and non-financial services with the support of fin-tech to ensure financial inclusion, especially in rural areas. 

Business plan for 2024

• The main objective of the business plan for the year 2024 is to increase the volume of financial resources to finance this year’s winter season by diversifying financing by financing all stages of agriculture before and after the harvest.
• Various projects for renaissance and development and supporting projects of graduates and small producers by financing projects that contribute to achieving sustainable development in light of the war in Sudan.
• The Business plan for the year 2024 included many targeted sectors, such as the agricultural, service, industrial, and commercial sectors, and financing the women’s sector through small projects in coordination with women’s development centres in the various states through branches in safe areas
• Refreshing the company’s business in states with a high population density after the displacement of citizens to those areas, by activating the company’s branches.
• To preserve the company's resources and the company's important role as one of the largest microfinance institutions in the country within the framework of the strategic transformation and general directives to support green financing and renewable energy and future planning for the necessity of optimal use of resources through studying internal and external obstacles and then investing in activities. Economic support for projects targeting microfinance sectors.
• The company remained committed to sustaining its operations by shifting its focus to regions that were considered safe. In these areas, it prioritized providing microfinance services tailored to the needs of the productive sector, aiming to foster economic resilience and growth. In addition, the company placed a strong emphasis on supporting environmentally sustainable practices through green financing initiatives. These services were extended to a broad range of clients, including individuals, solidarity-based groups, and associations, ensuring that diverse segments of society could access the necessary financial tools to rebuild and thrive despite the ongoing conflict.

Major Financing Projects

• Financing the winter season for growing basic crops through agricultural projects.
• Organic horticultural products projects for growing vegetables and fruits.
• Financing crops, oilseeds, and product manufacturing industries, improving production, and linking small producers with exports.
• Diversifying the financing stages to include harvesting and financing production lines for the processing industries of vegetables, fruits and grains to meet the needs of the local market and export.
• Proper Packaging and presentation in a manner commensurate with the requirements of the global market to export to some Arab countries and create a global market in the field of exporting vegetables and fruits.
• Financing the craft sector to encourage and support craftsmen by establishing integrated maintenance complexes for vehicle maintenance that include all services in one place in a modern manner commensurate with the need for vehicle maintenance work.