MICROCAPITAL BRIEF: MicroFinanza Rating Issues 6 Institutional, Social Ratings to Microfinance Institutions (MFIs) in Africa, Latin America

Italy-based MicroFinanza Rating recently told MicroCapital that during May it issued two Social Ratings and four Microfinance Institutional Ratings (MIRs) to five microfinance institutions in Africa and Latin America. FMC Finance of Zimbabwe earned a Social Rating of B, and Fundacion Espoir of Ecuador earned a Social Rating of BB+. FMC Finance and Rwanda’s Duterimbere-IMF each earned an MIR of BB- with a stable outlook. Umutanghua Finance Company of Rwanda and the Peruvian unit of the US-based Adventist Development and Relief Agency (ADRA) each were assigned MIRs of BB with a stable outlook.

MicroFinanza Rating also offers Client Protection Certifications in partnership with the Smart Campaign, a program of the US-based Center for Financial Inclusion. The Smart Campaign recently awarded its 100th such certification. Of this total, MicroFinanza Rating performed 54.

In addition to Italy, MicroFinanza Rating has offices in Bolivia, Ecuador, Kenya, the Kyrgyz Republic, Mexico, Peru and the Philippines.

By Nicholas Galimberti, with support from other members of the MicroCapital Team

Sources and Additional Resources

Information provided directly to MicroCapital by Microfinanza Rating.

The Smart Campaign
http://smartcampaign.org/

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