From now on, you will be able to measure your own impact directly, using our new online impact calculator. Caterina Giordano, Chief Impact Officer at Alterfin, explains what motivated the creation of this tool.

Alterfin wants to highlight its “human return.” What exactly does this mean?

“Return” is typically a term from the world of finance, and usually refers to financial gain. We’ve chosen to reinterpret it: human yield, or “human return,” because we want to quantify our social impact.

Measuring impact isn’t new for Alterfin. What is changing now?

It’s true that for several years we’ve carried out impact studies to assess whether our investments in a partner are truly generating the expected social and environmental outcomes. These are not superficial questionnaires, but in-depth interviews with the farmers and entrepreneurs who work with our partners.

Last year, we stepped up our efforts by conducting not one, but two impact studies. We will do the same again this year.

[Our co-op members] will be able to see, in a personalized way, how their investment impacts human lives.

Little by little, these studies allow us to collect data and, over time, identify robust trends. This data forms the basis of our “human yield calculator.” With this tool, anyone can calculate the “human return” on their investment in Alterfin—and understand how buying shares can change lives.

In addition, each year we plan to send our cooperative members a “Human Yield Certificate,” alongside the dividend certificate. They will be able to see, in a personalized way, how their investment impacts human lives.

Why place even more emphasis on human return today?

First, to put people back at the center of investing. We must remember that finance is, above all, about investing in human beings: helping them move forward, seize opportunities, protect their families, and build long-term resilience.

We could keep talking about “sustainable development,” but that term is too technical and vague for most people. The truth is simple: we invest in people.

Second, we want to differentiate ourselves from other impact investment funds. We don’t simply claim to have an impact—we measure it, and it is at the heart of our mission.

Before financial returns, we are driven by the potential positive outcomes for our partners, their beneficiaries, and their communities. We want to report back to our cooperative members on this aspect just as thoroughly as we do on our financial results. That’s far from common practice in the sector.

Because investing in others means investing in yourself, in your own humanity.

Finally, we want to attract cooperative members who truly align with us—people who believe that human return is at least as important as financial return, if not more. Because investing in others means investing in yourself, in your own humanity. It is a conscious act of standing alongside those who fight every day for their dignity.

Impact studies are a key tool. How much data has Alterfin collected so far? And which partners are being studied this year?

To date, we have conducted six impact studies and interviewed nearly 1,000 people. As we continue to interview more, we will keep feeding new data into the impact calculator - so it will evolve over time.

Both Ecookim and FFDL are visionary organizations, driven from the start by a strong social mission.

This year, our studies focus on Ecookim, an union of cocoa farmers’ cooperatives in Côte d’Ivoire, and FFDL, a microfinance institution in Nicaragua. We were the first international lenders for both organizations, and since then, they have become leading players in their sectors.

This is thanks to their exceptional qualities. Both Ecookim and FFDL are visionary organizations, driven from the start by a strong social mission. They have weathered many crises, during which we have always stood by their side. Today, they are solid partners delivering strong financial, social, and environmental results.

Together, Ecookim and FFDL perfectly embody what we seek to achieve with our partners: helping build strong, resilient organizations that are both financially profitable and humanly impactful. For us, this is the only sustainable long-term path.

Behind the calculator: what is your human yield through FFDL and Ecookim?

FFDL and Ecookim are the two Alterfin partners studied this year. Their results will feed into the impact calculator.

Here is a concrete preview of how these organizations transform lives - and how you do too, through your shares in Alterfin.

FFDL

• Microfinance institution in Nicaragua
• 45,000 clients

“My savings allowed me to get treatment after my stroke.”

This testimony shows how an FFDL loan enabled a family to increase agricultural production, secure sufficient food, and improve their housing conditions. Beyond material improvements, it brought dignity, resilience, and hope. The family can now cover medical expenses and dream of future projects.

Since receiving their loan, 97% of FFDL clients say their economic situation has improved, and 95% of farming clients report better living conditions.

Beyond meeting immediate needs, clients use loans to develop small businesses, invest in agricultural inputs, or support their children’s education.

FFDL therefore helps households improve their living conditions and invest in their future.

Ecookim

• Union of cocoa cooperatives in Côte d’Ivoire
• 37,000 members

“Thanks to the cooperative, I was able to send my younger brothers and my children to school.”

Joining a cooperative is often a turning point for farmers. Thanks to Ecookim, this farmer gained reliable market access, ensuring more stable income.

In Côte d’Ivoire, cocoa base prices are set nationally. Only certification allows farmers to earn additional income through premiums.

Ecookim trains its members and provides agricultural inputs so they can improve cocoa quality and obtain certifications. Members say the cooperative is very consistent in paying premiums—crucial for financial stability.

In fact, 94% of farmers report improved economic conditions since joining Ecookim, and 97% have experienced at least one significant improvement in their lives.

Ecookim’s impact also extends to the wider community. Using premiums, the cooperative develops essential local infrastructure - such as water pumps - contributing to overall living standards.