Summary

The 2030 Agenda for Sustainable Development has a
crucial aim to eliminate global extreme poverty by 2030.
Although progress has been made, the United Nations
estimates that more than 700 million people,
approximately 10% of the world's population, continue to
grapple with extreme poverty. Sub-Saharan Africa
remains the region with the highest number of
individuals living on less than $1.90 per day.
This report underscores Shared Interest’s achievements
in improving the livelihoods of people in remote and
disadvantaged communities by helping them trade their
way out of poverty. Working together with farmers,
artisans and communities, we have strengthened
businesses, increased employment opportunities and
introduced innovative sustainable farming methods. We
estimate that the businesses we supported this year
collectively earned £982m, with 109 customers
recording a profit. Significantly, 86 of these businesses
saw an increase in profits, reflecting the resilience of the
producer groups.
According to our internal data, the producer groups we
support now employ 412,628 individuals, with 32%
being women. The number of permanent employees
across both producer and buyer organisations increased
in 2023, reaching 9,519 employees, including 4,500
women.
Shared Interest, with a team of 34 colleagues, places
significant emphasis on retaining a motivated workforce
to support the organisation's growth. Maintaining a
committed team and fostering a positive work
environment are central to our approach. An
Engagement Survey indicated a high level of
engagement, with 55.2% actively engaged and 44.2%
engaged. We also benefit from the invaluable
contributions of 92 volunteers working alongside
colleagues. Volunteers play a crucial role in the
organisation's mission, and Volunteers' Week provided a
platform to celebrate their dedication and support.
In pursuit of our mission, Shared Interest relies on the
unwavering support of members, donors, volunteers,
and partners. Their invaluable commitment, along with
the dedication of our international team, producers, and
buyers, enable us to carry out impactful work across 45
countries.
Our diverse society membership includes faith groups,
fair trade partnerships, small businesses, schools, and
community organisations. However, individuals hold the
majority, 82%, of Share Accounts. By the end of the
year, we had 10,259 members, despite a slight
decrease in investments by £0.7m. The Share Capital
totalled £51.6m at the close of the year. In 2023, we
welcomed 167 new members. Despite this, Share
Account closures led to a net reduction of 157 Share
Accounts.
Shared Interest Foundation, our charity, continues to
thrive with the support of 2,089 donors and grants. Over
the past year, we delivered 14 projects, which supported
the development of innovative solutions to strengthen
the climate resilience of producers, created incomegenerating opportunities for women and young people,
and established enterprises, which generate vital
income for rural communities. Seven new enterprises
were established providing a source of income to 705
farmers (69% women), 832 women received training in a
variety of topics, including agro-processing, soilless
farming, Climate Smart Agriculture, business skills and
leadership. Additionally, 243 young people received
training, tools and farming inputs to establish
sustainable cocoa and coffee farms, and 143,269 trees
were planted.
As mentioned earlier in the report, over the past three
years, the global economic landscape has been marred
by challenges including the Covid-19 pandemic,
inflation, and recessionary pressures. These issues,
coupled with political instability in certain countries, have
disrupted economies worldwide. As a result, our
customers are grappling with shrinking profit margins
due to lower product demand and rising input costs,
exacerbated by the Ukraine conflict. We also
acknowledge that weak governance and subpar
financial management pose ongoing challenges,
especially in the southern hemisphere. These issues, if
left unaddressed, can result in loan defaults.
Consequently, we have made provisions for a higher
number and value of customer accounts than usual,
acknowledging the uncertainty of these numbers.
However, it is essential to restate that we believe many
of the accounts in arrears are recoverable.
Our financial support comes in the form of short-term
and medium-term lending options, including Export
Credit, Buyer Credit, Stock Facilities, and Term Loans.
We remain dedicated to providing vital financial support
to smaller, vulnerable groups while proactively
managing risk and navigating the challenges of a
complex global economic landscape. We disbursed
£49.2m in 2023, with reductions primarily in South
America due the impact of the new Fairtrade minimum
coffee price in the market and establishment of contracts
from buyers.
In this challenging year, we approved five new facilities
(totalling £1.3m), a decrease from the previous year.
Coffee continues to represent the largest of our value
chain exposures at 48% of our lending. This simply
reflects the size of the Fairtrade and organic coffee
market and its need for trade finance. It also mirrors the
impact of the financing sphere as a whole.

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