Annual Report 2024
Seeding Prosperity
Annual Report 2024
Who we are
We believe that everyone deserves the opportunity to build a better life.
Our Mission: To fight poverty by helping people build regenerative farms, businesses, and markets that increase incomes.
2024 Impact Numbers
$491M
Financial benefits
Increased revenue for people and businesses benefiting from TechnoServe’s work.
1.2M
Beneficiaries
TechnoServe clients who grew their revenue in the past year, as well as others for whom we have data indicating revenue growth.
42%
Women
Represents the percentage of people and enterprises we supported that were women or women-owned businesses.
$7.60
Return on Investment
Average revenue increase for TechnoServe clients for every $1 invested in TechnoServe programs. TechnoServe programs consistently deliver positive ROI which varies across programs, sometimes significantly based on sector and type of intervention.
73,000
Better Jobs
Jobs created, strengthened, or filled as a result of TechnoServe’s work. This includes entrepreneurs who started their own businesses with our support, new jobs generated by businesses that expanded with TechnoServe’s guidance, and low-income individuals who gained skills through our programs to secure employment.
126,000 tons
CO2e Emissions Mitigated
An estimate of greenhouse gas emissions avoided, reduced, or sequestered by projects that promote regenerative practices. In this second year of measurement, results reflect 20% of active projects reporting impact. Most are expected to report by 2026 (not relevant for a small share of projects).
189,000 ha
Land Under Regenerative Management
Farmland or natural areas where TechnoServe clients implemented regenerative practices, leading to attributable improvements in protection, management, or restoration of land and water through project activities. In this second year of measurement, results reflect 14 projects, or 23% of active projects, with most agriculture projects expected to report by 2026 (not relevant for all projects).
3.1 million lives improved
People whose lives improved directly through TechnoServe’s work and those who benefited indirectly, such as our clients’ family members and individuals whose jobs were created or strengthened by our services.
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Impact by Sector
Impact by Sector
| PRACTICE | FINANCIAL BENEFITS | BENEFICIARIES | PERCENT WOMEN | BETTER JOBS | EMISSIONS MITIGATED |
|---|---|---|---|---|---|
 Coffee | $126,799,000 | 161,860 | 34% | 0 | 8,480 |
 Enterprise Development | $212,755,000 | 311,600 | 90% | 52,530 | 101,420 |
 Food Processing | $19,964,000 | 186,090 | 51% | 4,830 | 0 |
 High Margin Agriculture | $108,187,000 | 430,180 | 35% | 11,330 | 15,990 |
 Other | $22,933,000 | 130,000 | 40% | 4,200 | 0 |
| Total | $490,638,000 | 1,219,730 | 42% | 72,900 | 125,890 |
Impact by Country and Region
Impact by Country and Region
Latin America & the Caribbean
 Country | Financial Benefits | Beneficiaries | Percent Women |
|---|---|---|---|
| Brazil | $1,221,000 | 270 | 60% |
| Chile | $23,320,000 | 1,700 | 65% |
| Colombia | $15,326,000 | 180 | 43% |
| Costa Rica | $880,000 | 40 | 67% |
| Ecuador | $11,090,000 | 4,450 | 35% |
| El Salvador | $24,744,000 | 4,800 | 36% |
| Guatemala | $31,353,000 | 16,580 | 37% |
| Honduras | $40,896,700 | 24,080 | 32% |
| Mexico | $7,199,000 | 10,200 | 17% |
| Nicaragua | $10,249,000 | 9,410 | 34% |
| Panama | $701,600 | 70 | 66% |
| Peru | $43,105,000 | 14,950 | 35% |
| Puerto Rico (U.S.) | $6,793,300 | 960 | 18% |
| Grand Total | $216,878,600 | 87,690 | 34% |
West Africa
 Country | Financial Benefits | Beneficiaries | Percent Women |
|---|---|---|---|
| Benin | $58,063,000 | 110,950 | 38% |
| Côte d’Ivoire | $29,625,000 | 64,800 | 67% |
| Ghana | $863,000 | 2 | 50% |
| Nigeria | $7,610,000 | 14,270 | 17% |
| Senegal | $535,700 | 7,450 | 75% |
| Grand Total | $96,696,700 | 197,472 | 36% |
East Africa
 Country | Financial Benefits | Beneficiaries | Percent Women |
|---|---|---|---|
| Democratic Republic of Congo | $6,478,000 | 16,500 | 52% |
| Ethiopia | $23,264,000 | 114,200 | 26% |
| Kenya | $10,778,000 | 5,286 | 64% |
| Rwanda | $3,974,000 | 7 | 14% |
| Tanzania | $6,311,000 | 7,150 | 46% |
| Uganda | $16,059,000 | 51,400 | 39% |
| Grand Total | $66,864,000 | 194,543 | 37% |
Southern Africa
 Country | Financial Benefits | Beneficiaries | Percent Women |
|---|---|---|---|
| Botswana | $12,508,000 | 200 | 57% |
| Malawi | – | 1,700 | 64% |
| Mozambique | $26,601,000 | 447,300 | 92% |
| South Africa | $31,858,000 | 721 | 60% |
| Zambia | $5,398,000 | 48,500 | 48% |
| Zimbabwe | $940,000 | 670 | 53% |
| Grand Total | $77,305,000 | 499,091 | 91% |
India
 Country | Financial Benefits | Beneficiaries | Percent Women |
|---|---|---|---|
| India | $33,397,000 | 240,700 | 37% |
| Grand Total | $33,397,000 | 240,700 | 37% |
Explore Their Stories
Seeding Prosperity for Our Clients
At TechnoServe, we believe in the power of people—their resilience, determination, and potential to create change.
Jacqueline Castillo
TechnoServe Client, Mexico
“We used to think this wasn’t possible, but look at what we’ve accomplished.”
Tanmay Pandaya
TechnoServe Client, India
“Our journey with TechnoServe and Greenr has been very exciting. We have received a lot of support, specifically in the three challenges we were facing, which were fundraising, hiring, and taking strategic decisions.”
Lubaba Mekonnen
TechnoServe Client, Africa
“The day I started training in coffee agronomy practices, I felt the weight of my life’s concerns instantly lift off my shoulders.”
Jacqueline Castillo
Planting the Seeds of Change
In the heart of Tomatlán, Mexico—a town whose name means “among tomatoes” in Nahuatl—Jacqueline Castillo is seeding prosperity. As the president of a local agribusiness called Uelitini Tonatiuteotl, she has dedicated herself to building opportunities for smallholder farmers. She has turned a modest family project into a thriving business that sustains dozens of producers and their families.
Jacqueline’s journey in agriculture began unexpectedly. She was a teacher and later worked as an administrative assistant, but she sought new opportunities when the school where she taught closed. She took a leap of faith on a small family plot that her father left to her and her siblings after he passed away a few years ago.
Jacqueline and her family started small—a single greenhouse, run by her mother and herself. Without experience in greenhouse farming, they had to learn everything from scratch. “I had to leave the security of a salary behind,” she recalled. “Hiring someone wasn’t an option—we simply couldn’t afford it.”
At first, the challenges seemed insurmountable. They struggled with finances, lacked technical knowledge, and received poor advice from suppliers more interested in selling agricultural products than helping them succeed. “We were on the verge of giving up,” she admitted. “We weren’t making a profit, and we wondered if we should just walk away.”
Read more of Jacqueline’s story…
Breaking Barriers to Growth
Just when hope was fading, Jacqueline received an unexpected message from a friend. “He said, “I want to introduce you to someone who can help you improve your farm and explore new market opportunities.” I thought, ‘This man is crazy,’” she laughed.
Skeptical but curious, she attended a meeting in Puebla, where TechnoServe representatives introduced the Pequeño Productor Program. This initiative, led by Walmart Mexico Foundation and implemented by TechnoServe, provides smallholder farmers with agronomic and business training, helping them access formal markets.
Initially, Jacqueline doubted whether she and her mother, with their single greenhouse, could compete with the larger-scale producers in the room. But when she returned home and shared what she had learned, her family encouraged her to take the leap. “They told me, ‘Yes, we can. Yes, you can.’ And that changed everything.”
Determined to bring this opportunity to others, Jacqueline gathered other producers to attend a TechnoServe training session. However, skepticism ran deep. “Many had been deceived before—informal buyers had taken their products and disappeared without paying. So they didn’t trust easily,” she explained. Despite initial resistance, she persisted, convincing others that they had nothing to lose and everything to gain.
Building a Thriving Agribusiness
Over time, Jacqueline and her fellow producers formalized their agribusiness, Uelitini Tonatiuteotl, and began adopting the training and regenerative agricultural practices introduced by TechnoServe. The transition wasn’t easy—shifting mindsets from individual, family-oriented farming to collective business action required patience and perseverance.
(TechnoServe / Daniel Lizarraga)
By 2020, the group had secured its first formal transaction with Walmart Mexico, selling 239 tons of tomatoes. At the time, they sorted every shipment manually. Five years later, with growing success, they purchased a sorting machine and increased their sales to 3,629 tons, representing 1,400% in sales growth. Their consistency and quality earned them Walmart Mexico’s Pequeño Productor Supplier of the Year award in 2022.
“We used to think this wasn’t possible,” Jacqueline reflected. “But look at what we’ve accomplished.”
Today, the agribusiness includes 17 core associate producers and 105 growers supplying their produce, generating 256 jobs annually. The impact extends beyond the fields—their packaging facility now provides stable jobs for 50 people, offering year-round employment instead of seasonal work.
“Before, we never knew if we’d be able to sell our harvest,” Jacqueline said. “Now, we have security. We can plan, invest, and grow.”
Jacqueline has also become a fierce advocate for regenerative farming. The program introduced her to regenerative practices that protect both soil and human health, reducing dependency on chemicals. “At first, we believed we needed lots of fertilizers to produce more,” she said. “Now, we know better. We use compost, integrate bees for pollination, and focus on soil restoration. The results speak for themselves.”
A Vision for the Future
For Jacqueline, success is not only about personal achievement—it’s about uplifting others. She dreams of expanding Uelitini to provide opportunities for more smallholder farmers in the region. “When a region grows, everyone grows,” she said. “Large producers have their systems, but small farmers struggle alone. If they come together, they can create something much bigger.”
Her leadership has inspired others to take risks and embrace change. “The key is to work together, to overcome fear, and to seek opportunities,” she advised. “We’ve struggled before. Now, it’s time to move forward.”
Looking back at her journey—from starting with a single greenhouse to leading a thriving agribusiness—Jacqueline feels a deep sense of pride. “I started from nothing, learning with my hands in the soil,” she reflected. “Now, I see what we’ve built. This business has changed my life, my family’s life, and the lives of so many others.”
Thanks to programs like Pequeño Productor, small farmers in Mexico are building a future of economic self-sufficiency, and smallholder farmers all over the world are seeding prosperity.
Tanmay Pandaya
Scaling Up a Sustainable Solution
Where others saw a nuisance, engineer and entrepreneur Tanmay Pandaya saw an opportunity. Now, he’s turning his innovation into a thriving business.
Rice husks–the protective coating removed from grains of rice when they are hulled–are an important biofuel in India, where rice is a staple crop. But when rice husks are burned as part of this process, it creates large volumes of rice husk ash, a pollutant that companies in the sector struggle to dispose of safely. The ash is often dumped at landfills or quarries, but due to its light weight, it ends up being picked up in the air, where it becomes a pollutant.
A Circular Solution to Two Environmental Problems
Tanmay Pandya, a chemical engineer, was focused on creating a sustainable solution for this problem. He knew that with the right process, rice husk ash could be turned into silica, a key ingredient in products ranging from tires to athletic gear. Not only would this solve the problem of how to dispose of rice husk ash, it would help address the environmental impacts of silica production. Silica is normally derived from sand mined from rivers, and its production both pollutes waterways and releases large amounts of carbon into the atmosphere. Silica derived from rice husk ash would avoid those problems.
Read more of Tanmay’s story…
In 2018, Tanmay founded Brisil Technologies in the Indian state of Gujarat to commercialize this innovation. But while the innovative product was a success, the business had trouble scaling up its operations. Like many entrepreneurs in the circular economy–which aims to preserve and restore natural resources by sharing, reusing, repairing, and recycling materials–he found it difficult to access the finance, skilled personnel, and markets to reach more customers.
Enterprise Development for Job Growth and Environmental Impact
Tanmay recognized that he needed assistance and enrolled in the Greenr program, a partnership between the IKEA Foundation, Visa Foundation, and TechnoServe. The program accelerates the growth of sustainable small businesses in India’s circular economy.
Tanmay was paired with TechnoServe business advisor Ayan Bhattacharya, who helped Brisil sign agreements with leading chemical distributors. These relationships allowed Brisil to distribute its silica to some of India’s leading companies. Because the distributors pay up-front, this also addressed the company’s lack of working capital.
“Our journey with TechnoServe and Greenr has been very exciting,” said Tanmay. “We have received a lot of support, specifically in the three challenges we were facing, which were fundraising, hiring, and taking strategic decisions.”
Before these changes, Brisil used just 45% of its production capacity, but it is now operating at 100% capacity. Between April 2023 and August 2024, its monthly revenue increased 10-fold. As a result of this growth, the company has created 30 permanent jobs and hired 35 contract employees.
“It has propagated our scale-up journey very fast,” said Tanmay.
Brisil’s success also delivers the environmental impact that Tanmay had dreamed of. Because of the company’s silica manufacturing, more than 25,000 tons of rice husk ash are no longer dumped each year, improving the air quality for families across western India.
Lubaba Mekonnen
Lubaba’s Life, 10 Years after TechnoServe
In Ethiopia’s Jimma zone, Lubaba Mekonnen once struggled to manage a one-hectare coffee farm after separating from her husband. Raising two young children on her own and learning to manage the farm was a daunting challenge, but it was one that Lubaba took on willingly to ensure a better future for her kids.
In 2012, Lubaba joined TechnoServe’s Coffee Initiative, where she learned how to transform her farm into a profitable enterprise. Through monthly training sessions, she gained key skills to improve her coffee production. She implemented proven techniques, such as stumping old trees, regular weeding, and composting—practical changes that led to measurable results.
These new skills unlocked significant economic opportunities. By 2020, Lubaba’s coffee income had increased by 200%, enabling her to hire two day laborers and contribute to local job creation. “The day I started training in coffee agronomy practices, I felt the weight of my life’s concerns instantly lift off my shoulders,” she recalled.
The initial success of her coffee farm became a foundation for broader economic self-sufficiency. Demonstrating strong entrepreneurial skills, Lubaba diversified her income streams by establishing a small retail shop, launching a beekeeping operation with five hives, and developing a eucalyptus plantation for timber sales. She also invested in future income generation by purchasing land to build a small rental property.
Read more of Lubaba’s story…
where only 6% of the population holds a college degree, she has funded her son’s accounting studies at Jimma University, and with Lubaba’s support, her daughter plans to study medical science next year.
“Now I see a lot of opportunities, and it begins by being courageous,” Lubaba reflected. “The journey began with me understanding my coffee farm and giving it the best, and indeed, the farm also gave me the best.”
Through projects such as the Coffee Initiative, TechnoServe helps entrepreneurs like Lubaba access the tools and training they need to build sustainable businesses, creating pathways to prosperity that strengthen families and communities. The Coffee Initiative, which ran from 2008 to 2015 and was funded by the Gates Foundation, benefited 267,987 farmers across East Africa, increasing incomes by an average of 27%.
Looking ahead, Lubaba continues to expand her business ventures and improve her farm, contributing to the growing network of successful local enterprises that form the backbone of Ethiopia’s economic stability.
“Coffee is the basis of my life,” Lubaba shared. “Coffee raised and has taught my children and made me lead a happy life.”
Project Spotlight
A New Lens on Life with Mujeres CAFÉ
Women manage approximately one-quarter of Peru’s coffee farms, yet these farms often lag in productivity and profitability. Female farmers face a complex web of challenges that limit their economic prosperity—restricted land ownership, limited access to financial services, barriers to agricultural training, and difficulties negotiating fair market prices. Additionally, they must balance farm work with household responsibilities while having minimal decision-making power within their communities.
TechnoServe’s Mujeres CAFÉ project is transforming this reality. Working with 1,300 women coffee farmers in Peru’s San Martín and Huánuco regions, this initiative—supported by The Starbucks Foundation—equips women with leadership and communication skills essential for economic empowerment and community resilience.
Capturing Progress Through a New Lens
In 2024, sixty Mujeres CAFÉ participants deepened their leadership journey through PhotoVoice, an innovative visual storytelling method. TechnoServe trained the women to use cameras to document reflections on their lives, communities, challenges, and achievements as coffee farmers. Through facilitated group discussions, they analyzed their images, shared personal narratives, and reflected on their path toward autonomy and effective decision-making.
Read more about Mujeres CAFÉ’s story…
This collaborative process revealed powerful shared themes:
- Women’s profound connection with nature—viewing it both as a source of inspiration and as a precious resource requiring protection to ensure their families’ future prosperity
- Pride in their identity as farmers and their vital contributions to quality coffee production
- Growing self-recognition as courageous, independent, and enterprising leaders building resilience in their communities
The photography-storytelling combination created an inclusive platform where women of all literacy levels could actively participate, strengthening their communication skills and public speaking confidence.
Building Sustainable Economic Prosperity
By supporting women in developing the skills and confidence needed for leadership and strategic decision-making, Mujeres CAFÉ drives positive transformation throughout coffee-growing communities. The initiative not only empowers women economically but also strengthens the overall resilience of the coffee value chain, fostering sustainable growth and inclusivity.
The results speak to profound change:
- 48% of participants report increased self-efficacy
- 88% have gained greater decision-making power in households and farms
- 59% of participants secured leadership positions in coffee-producing organizations
- 97% exercise greater control over their income
Through Mujeres CAFÉ, TechnoServe is helping build a more equitable and prosperous coffee sector in Peru. As women gain economic empowerment and leadership skills, entire communities benefit from their increased participation, creating a ripple effect of opportunity and resilience that extends far beyond individual farms.
By viewing their world through a new lens—both literally through cameras and figuratively through enhanced perspective—these women are reshaping coffee-growing communities and cultivating a future where prosperity is possible for all.
Donor profile
Why an Award-Winning Advisor Is Betting on TechnoServe
Charlie Reardon knows what makes businesses grow — and fail. Coming from a long line of entrepreneurs, he has spent 40 years starting, buying, operating, financing, and selling firms, as well as advising leadership on managing these activities. His experience has made him a nationally recognized restructuring advisor, who has navigated countless high-stakes situations and distressed M&A deals, and earned multiple “Transactions of the Year” awards. As a member of numerous private and public boards, Charlie also steps in to address the financial and operational challenges of various organizations.
Looking back over his career, Charlie notes that both start-ups and distressed companies often suffer from the same basic challenges: lack of money and skilled personnel. He has observed firsthand these issues causing business failures leading to a devastating economic and emotional toll on employees, suppliers, and families, especially in rural regions where his clients were the primary employers.
For this reason, Charlie was drawn to TechnoServe’s “business solutions to poverty”. He saw an organization tackling these core issues head-on by teaching the business skills to succeed. Intrigued by the organization’s approach, Charlie traveled to El Salvador and saw firsthand how TechnoServe’s field personnel empowered clients to build sustainable, profitable businesses. This experience solidified his belief in TechnoServe’s mission.
“One reason I love TechnoServe, is that you teach people how not to make common mistakes,” Charlie said. “In El Salvador, every entrepreneur said the most important lesson from TechnoServe was not how to run a farm, furniture manufacturer, or restaurant. It was how to run a business.”
In El Salvador, Charlie met entrepreneurs, such as smallholder coffee farmers, who faced challenges similar to those of his C-suite clients. The business-owners were eager to learn skills, build networks, and gain confidence, resulting in significant positive change in their regional communities.
Read more of Charlie’s story…
“I saw in every entrepreneur the desire to give back to their community and every person was doing that in different ways,” he noted. “So, it’s not just a person, not just their family. It’s this much broader effect.”
Charlie is now actively involved with TechnoServe. In 2021 he joined the Global Advisory Council, a community of supporters providing financial support, strategic advice, and connections to advance TechnoServe’s work. Charlie also supported a project that provided coffee pulper machines to 70 farms in Zimbabwe, and he and his family recently agreed to co-fund a new TechnoServe project to provide approximately 32,000 coffee farms with the tools and training to increase their harvest yields and quality.
“When else are you going to get the chance to help families lift themselves out of poverty for generations?” he said. “I can’t do that by myself, but TechnoServe makes it possible. TechnoServe’s work is permanent. It changes people’s lives. And it goes on for generations.”
Please consider joining Charlie and TechnoServe in seeding prosperity for hardworking people around the world.
2024 Highlights
January
TechnoServe collaborated with the World Economic Forum’s Global Future Council on the Future of Job Creation. Key Issues Shaping and Driving Global Job Creation aligns with TechnoServe’s goals and highlights the importance of supporting small and medium-sized enterprises to create quality jobs for growing populations
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We developed the Digital Farm Extension Monitoring System, a mobile application, in partnership with the Government of Rwanda and the Bank of Kigali to address critical challenges in Rwanda’s coffee supply chain. The field data collection tools and dashboards will highlight areas that need more support and investment.
February
TechnoServe’s Juan Carlos Thomas led a panel with Yield Lab, Fondo de Fondos in Mexico, and Irving Solena at the Latin American Impact Investing Forum in Merida, Mexico. They discussed the importance of collaboration and timely action to guarantee food security globally.
April
TechnoServe’s Greenr Sustainability Accelerator helped startups that are turning plastic pollution in India into new ways to help our planet by linking them to knowledge, capital, and markets. Supported by the IKEA Foundation and Visa Foundation, TechnoServe offers experienced strategic advisors without equity dilution and no program participation fees.
May
IGNITE Program Director Rizwan Yusufali was interviewed on Kenya’s KTN News, where he discussed the TechnoServe’s Millers for Nutrition initiative which aims to help processors reach 1 billion people with adequately fortified rice, edible oil & flour by 2026.
June
Farmers from TechnoServe’s Pequeño Productor Program spoke at the Regenerative Agriculture and Food Systems Summit in Mexico City. Funded by Fundacion Walmart de Mexico, the program has trained more than 32,000 smallholder farmers in agronomic practices, shifting over 68,000 hectares of land into regenerative production.
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TechnoServe and Benin’s Agency for the Development of Small and Medium Enterprises signed a partnership agreement to align efforts supporting the growth and development of local small and growing businesses. We will take a collaborative approach to creating and implementing activities annually, guided by market systems principles.
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TechnoServe’s Kindra Halvorson was interviewed as an ‘MSME Champion’ as part of an advocacy campaign for the International Day for Micro, Small and Medium-sized Enterprises (MSMEs). She highlighted the barriers women often face when accessing finance and the activities TechnoServe has done to change the status quo.
July
TechnoServe’s Jane Grob and Daniel Hamos were quoted in The New York Times article that explored why so many cocoa farmers lived in poverty despite the spike in cocoa prices. Jane noted that farmers often received contradictory instructions and poor follow-up from projects set up to help them. “It’s a top-down approach,” she said. “No one looks at the effects on individual farmers.”
August
TechnoServe’s BlueBiz program creates pathways for dignified and fulfilling work for young women and men in Kenya’s coastal communities. Three young Kenyans were selected for the Youth Advisory Council’s pilot phase. Over the next three and a half years, the program will support 15,000 young entrepreneurs, build the capacity of local organizations, and increase access to financial solutions.
September
TechnoServe co-hosted NutriVision 2024 with Nile University in Nigeria. This pan-African youth dialogue on nutrition brought together experts, partners, and youth to highlight the challenges of nutrition, food security, sustainable agriculture, and financing in Nigeria and across Africa. The event featured a conversation with Bill Gates and influencers like Tosin Samuels, Aproko Doctor, and Jon Batiste.
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In a World Economic Forum article, TechnoServe CEO William Warshauer underscored the importance of long-term impact measurement that is built into project design from the outset. He noted this was needed across all international development projects to find and fund what delivers lasting results..
October
TechnoServe’s Mujeres CAFÉ project worked with sixty women using a participatory photography method called PhotoVoice. TechnoServe trained the women to use visual storytelling through photography to reflect on their lives, communities, challenges, and achievements as coffee farmers and individuals.
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TechnoServe continues to contribute strategic insights and technology to help smallholder farmers meet EU Deforestation Regulation compliance for crops like coffee and cocoa. We donated the source code for TerraTrac to the Linux Foundation’s AgStack Initiative to build a core digital public infrastructure that will benefit the value chain, accelerate innovation by the private sector, and improve supply chain traceability for forest-risk commodities.
November
TechnoServe’s Tony Siantonas and Margarita Guerra joined conservation leaders at the U.N. Biodiversity COP16 in Colombia to emphasize the impact of biodiversity loss on poverty in rural communities and how TechnoServe’s regenerative business projects protect nature and people.
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TechnoServe’s Katarina Kahlmann represented the organization at the U.N. Climate COP29 in Azerbaijan. This annual gathering of world leaders is important to TechnoServe because the negotiations matter to our clients—the smallholder farmers and small business owners—who are among the most vulnerable to climate change impacts.
December
TechnoServe’s EmpleaT program partnered with Anglo American to showcase solutions for women and youth facing employment barriers at the Labor Ecosystem Seminar. The event emphasized collaborative efforts to create sustainable, inclusive job opportunities. EmpleaT was also featured in a World Economic Forum case study.
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TechnoServe’s white paper, Raw Material Sourcing as a Lever for Shared Value, emphasized the potential for strategic sourcing models to benefit food processors and smallholder farmers. It suggested that investing in solutions that improve smallholder supply chains can help overcome sourcing challenges while enhancing farmers’ livelihoods.
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The first cohort of Rachel Hines Fellows completed projects in Peru, Tanzania, Madagascar, Comoros, and India. Their projects advanced regenerative business solutions by promoting circular economy initiatives, measuring the carbon benefits of sustainable coffee farming, and supporting biodiversity conservation and job creation in coastal communities.
Financial summary
2024 Financials
TechnoServe is dedicated to the highest standards of financial transparency and conduct. After all, our donors and stakeholders deserve to see just how efficiently and effectively their generous support has been put to use.
2024 Sources of Funds
2024 Allocation of Expenses
Financial summary
2024 Financials
TechnoServe is dedicated to the highest standards of financial transparency and conduct. After all, our donors and stakeholders deserve to see just how efficiently and effectively their generous support has been put to use.
2024 Sources of Funds
Total Revenue: $125,201,089
| Source | Amount | Percentage |
|---|---|---|
| Foundations | $12,978,835 | 10.4% |
| Corporations | $30,542,070 | 24.4% |
| US Government | $40,809,055 | 32.6% |
| Other Government | $31,077,326 | 24.8% |
| Private Fundraising | $7,299,026 | 5.8% |
| Other | $2,494,777 | 2.0% |
2024 Allocation of Expenses
Total Expenses: $126,668,302
| Category | Amount | Percentage |
|---|---|---|
| Africa | $67,846,543 | 53.6% |
| Latin America & Caribbean | $19,571,685 | 15.4% |
| India | $4,418,617 | 3.5% |
| Global | $13,571,282 | 10.7% |
| Management & General | $15,687,207 | 12.4% |
| Fundraising | $5,572,968 | 4.4% |
End of Year Net Assets:
$12,790,000
Technoserve
Letter from CEO and Board Chairs
Nearly 60 years ago, TechnoServe was founded on the pioneering notion that business was among the most powerful tools for fighting poverty.
In all the years since, we have never wavered from this approach – because it works. Our efforts assisting clients create positive benefits year in and year out.
When people earn more money through their own efforts, they improve their lives. They are empowered to create positive change. They can afford better housing, education, and health care. They have greater freedom in how they spend their money and their time.
In 2024, our mission to improve incomes and lives continued to produce real results:
- The highest-ever total financial benefits for our clients: $491 million
- The highest-ever number of people and enterprises whose revenue increased: 1.22 million
- 73,000 jobs created or strengthened
- 126,000 tons of of CO₂e emissions mitigated
- Forty two percent (42%) of beneficiaries are women
This impact is rooted in our founding principle of sustainable and lasting solutions to poverty. As you will read further in our report, our work also:
Creates a positive ripple effect: After working with TechnoServe in Ethiopia, smallholder farmer Lubaba Mekonnen was able to build a new house, connect it to electricity, start three new enterprises, and send both her children to school. This year, her daughter will graduate high school, and her son will become one of the 6% of people in Ethiopia with a college degree.
Is cost-effective: Despite working in some of the world’s most challenging economic environments, every program dollar spent by TechnoServe helps our clients increase their revenue by an average of $7.60. And it includes truly catalytic impact based on time-tested approaches, such as enterprise development work in Latin America that returned an ROI of nearly $30-to-$1.
Promotes self-sustaining change: Connecting small producers to larger markets creates “win-win” business relationships that last on their own. In Mexico, Jacqueline Castillo worked with TechnoServe to gain business and agronomy skills and start a farmer business group. Within a few years, the farmer group increased its sales to Walmart (the largest grocer in Mexico) by 1,400%, and it has created or strengthened over 300 jobs.
This is what seeding prosperity looks like: local solutions that help to make markets work for local people, increasing incomes and improving lives. We thank you for helping us plant seeds of change in so many places over so many years, and invite you to continue with us in cultivating a better world.
Partners
TechnoServe’s success is made possible by partnerships with leading foundations, corporations, public-sector agencies, and multilateral organizations. Some of our partners in 2024 are below. Learn more about our partners.
2024 Board of Directors
Co-chair
Michael J. Bush
Managing Member
BIV Investments
Co-chair
Rachel Hines
Former Managing Director
J.P. Morgan
Vice Chairman
Peter A. Flaherty
Arcon Partners, LLC
Secretary
Jennifer Bullard Broggini
Senior Advisor
Lago Holding Sagl
Treasurer
Michael Spies
Managing Partner
Fuse Strategies, LLC
________________
Kofi Adjepong-Boateng
Senior Advisor
Credit Suisse
Monica Adractas
Managing Director
Venture Capital Funds
Olusegun Olutoyin Aganga
Former Managing Director
Goldman Sachs
Imoni Akpofure
Finance and Sustainability Professional
Daniel Aminetzah
Senior Partner
McKinsey & Company
Scott Baker
Partner
Reed Smith, LLP
Kanika Bahl
CEO
Evidence Action
Gerald Baldwin
Director and Former Chairman & CEO
Peet’s Coffee & Tea
Thomas C. Barry
President & CEO
Zephyr Management, LP
Bob Bechek
Advisory Partner
Bain & Company
Titus Brenninkmeijer
Founder
Solgenix, LLC
Monica de la Torre
Co-founder
Fundación Colibrí
Jean-Marc DuVoisin
Advisor and Board Member
Multiple startups and nonprofits
Russell Faucett
Managing Director
Gyrafalcon Advisors
Mia Funt
President & Co-founder
ByHeart
Aedhmar Hynes
Global Communications Professional
Timothy M. Kingston
Chairman, Latin America Investment Banking
Goldman Sachs
Divyangana Kumar
Managing Director, Foodservice North America
Cargill
Robert Manly
Former Executive Vice President
CFO and Chief Synergy Officer
Smithfield Foods, Inc
Charles Moore
Fellow, Rock Center for Corporate Governance
Lecturer in Law & Business
Stanford University
Kurt Peterson
Partner
Reed Smith LLP
William Warshauer
President & CEO
TechnoServe Inc.
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TechnoServe has always found a different way to make a difference.
TechnoServe siempre ha encontrado una manera diferente de marcar la diferencia.
Depuis toujours, TechnoServe a trouvé une manière différente de faire la différence.
A TechnoServe sempre encontrou uma maneira diferente de fazer a diferença.
Download PDF
TechnoServe has always found a different way to make a difference.
TechnoServe siempre ha encontrado una manera diferente de marcar la diferencia.
Depuis toujours, TechnoServe a trouvé une manière différente de faire la différence.
A TechnoServe sempre encontrou uma maneira diferente de fazer a diferença.
Transparency and accountability
A nonprofit organization you can trust
At TechnoServe, we prove our transparency and accountability every day. That’s why we’ve been awarded four stars by Charity Navigator, an “A” rating by CharityWatch, and recognized by GuideStar’s highest level of recognition: the Platinum Seal of Transparency.
The Jangu family processes their guar crop in Rajasthan, India. TechnoServe supports local farmers with agricultural training.
(TechnoServe / Suzanne Lee)
This report was assembled by the Communications team at TechnoServe. The authors and contributors are Trishna Gurung, Julieta Ocampo, Nick Rosen, Olivia Sakai, Rebecca Regan-Sachs, Bethany Peevy Downie, Rebecca King, James Tinker, and Smitha Allapat. Design and layout by Liz Beeles and Lyvi Sieg. Digital Version report by Nikolas Rodrigues and Lisa Kagel.