In 2024, we guided VICTO National through not only training and education, consultancy, and audits but also financial investment services. The Boards of Directors actively supported the federation’s ongoing efforts to enhance its capabilities as a financial service provider. These operational improvements are both timely and essential, especially as economic growth forecasts for 2024 have significantly improved.

We pushed boundaries, set new records, and pioneered innovative strategies to mobilize investment and generate internal capital where it's most needed. As a network, we collaboratively pool the resources of member affiliates to make a meaningful impact in serving micro and small cooperatives as well as the communities we support.

The diligence of our management and staff reflects our dedication to career development and succession planning. We remain steadfast in fostering a workplace culture that encourages collaboration, empowers individuals, and emphasizes the importance of diversity, equity, and inclusion.

We are pleased to report that we achieved our goal of increasing internal progression and improving the network's financial condition. Late last year, we enhanced our sustainability-linked financing structure to reflect the significant progress we have made over the year to advance our financing strategy, set ambitious targets, and broaden our scope of impact. We are grateful to all our investors for their support and commitment to our long-term strategic vision.

In calendar 2024, we organized an “International Educational Benchmarking Exposure Tour” in Bali, Indonesia. The event was attended by 29 primary cooperatives with a total of 122 delegates. The Educational Tour's goal was to visit cooperatives engaged in Savings and Credit, Consumer, and Agriculture. The cooperative delegates were welcomed by VICTO National partner Federation based in Indonesia, which is also a member of the International Cooperative Alliance (ICA). The cooperative leaders’ exposure was a resounding success and rewarding because of the learning insights, best business practices, and techniques.

VICTO National also attended the General Assembly of the International Cooperative Agricultural Organization (ICAO) held in Rome, Italy. The event was attended by cooperative leaders from Africa, the Americas, Europe, and Asia Pacific. This annual gathering of cooperative leaders from across the globe discussed agricultural issues and concerns in line with the SDG’s Sustainable Goals.

Last November, VICTO National sent six delegates to attend the International Cooperative Alliance (ICA) Global Cooperative Conference held in New Delhi, India. The event was hosted by the Indian Farmers Fertilizer Cooperative (IFFCO). The conference theme, "Cooperatives Build Prosperity for All," guided discussions. We continued to amplify our member affiliates and the cooperative sector as a whole to create an impact across key development areas. Our efforts contributed to progress in training and education, climate action, gender equality, digital transformation, and other critical developmental issues that shape “Cooperatives: Build Prosperity for All.”

We are evolving to deliver on our mission. As a catalyst for change, we’re reshaping what’s possible in emerging markets. Our innovative approach is moving beyond traditional advisory services.

Now more than ever, we’re serving as architects of opportunity, creating environments where cooperative sector solutions can succeed, even in the most challenging and competitive markets. As a leading federation in education and training, we are proving the business case for tackling persistent development challenges. We are leveraging our experience to share knowledge and enhance understanding of risks and opportunities across the markets where we work.

The stories in this report aren’t just highlights; they’re harbingers of transformative change. They show how we are accelerating impact across diverse cooperative member affiliates and geographies, setting the stage for even greater achievements in the years to come. The challenges ahead are substantial, but so is our commitment to improving cooperatives, the community, and people’s lives. As you read this report, I hope you’ll see not just what we’ve accomplished, but the immense ambition for the future as we continue to accelerate the cooperative sector to address the country’s most pressing development challenges.