PUBLICATIONS

October 17, 2022

Macroeconomic variables and data on the financial system in Bolivia

MFR is present all over the world and in Bolivia, for which you will find here an analysis of the financial system.

September 13, 2022

Impact Finance Barometer 2022

The second edition of the Impact Finance Barometer was launched at the 3Zero World Forum on 5 September 2022.

This publication presents key figures and trends in impact investing and financial inclusion around the world. MFR (ATLAS) contributed to this publication with the article “Key figures of Financial Inclusion across the world”.

Since its emergence in the early 2000s, the sector has enjoyed a strong and sustained momentum. According to the Global Impact Investing Network (GIIN) data for the year 2020, the size of the impact investment market is estimated to be around $715 billion1. At a time when we seem to be just emerging from the COVID-19 crisis, this dynamic seems far from being halted.

So what are the motivations driving this sector? How can we contribute to its proper definition and the measurement of its objectives? How can we ensure effective coordination of the various impact initiatives on a global scale?

This year, as part of its special report, the Impact Finance Barometer examines the resilience of the impact finance sector to exogenous shocks. By this term, we mean all the political, economic, climatic and social risks which, if they materialise, contribute to the destabilisation of the sector, with knock-on consequences for all beneficiaries.

By inviting the structures of our ecosystem to share their expertise on the subject of impact, this publication aims to make a contribution. The Barometer thus offers a panoramic view of the different forms that impact finance can take, highlights its real operating capacities on a global scale through concrete examples, and highlights responses to the issues of inclusion and financing of social and environmental transitions.

October 6, 2021

COVID 19 Impact on Financial Service Providers

CGAP commissioned MFR to conduct an analysis of A) the impact of the pandemic on MFI liquidity, portfolio quality, and solvency through the end of 2020 and B) forward looking stress tests, with solvency scenarios for the FMI sector. The analysis was based on A) data collected through CGAP’s PULSE Survey and on B) data included in MFR’s Atlas platform. This slide deck presents the summary of that analysis, together with a blog post by Lucia Spaggiari: https://www.cgap.org/blog/covid-19-and-microfinance-what-data-says-about-risk-sector.

The results of this research has been presented during the webinar “Lifting the Fog: ATLAS Data for Financial Inclusion”, hosted by FinDev Gateway: https://www.findevgateway.org/findev-webinar/lifting-fog-atlas-data-financial-inclusion.

September 26, 2021

PAYGo PERFORM Data Collection Pilot

The Data Collection Pilot Report presents the findings of a pilot aimed at testing and refining the PAYGo Performance, Reporting and Measurement (PERFORM) key performance indicators (KPIs). The process of developing the KPIs was open to all interested stakeholders, and roughly 60 companies and investors volunteered to participate in working groups from 2017 to 2021 to develop the PAYGo PERFORM KPIs. Finally, eight companies, representative of the PAYGo sector worked with MFR to pilot the KPIs over a six-month period.

The pilot results led to modifications of the initial set of KPIs, including clarifying definitions, modifying calculations, replacing, discontinuing and adding KPIs. These changes to the initial set of KPIs are documented in the pilot report, along with the analysis and insights that led to these changes.

November 18, 2019

Geodata for Inclusive Finance: Data Privacy

Ben Wallingford and Kieya Derrick, part of MFR Africa team, in coordination with Lucia Spaggiari, MFR Business development Director, did this work for NpM, Platform for Inclusive Finance, and Smart Campaign, on the highly interesting and emerging topic of geodata and privacy risks. The research included MFR experience in client data privacy, case studies on two Kenyan FSPs, and desk research. The reporting covers good practices, challenges, and open questions.

July 10, 2018

Microfinance Barometer 2017

“Measuring client outcomes: The frontier of social performance management” on the 2017 Microfinance Barometer. The piece, written by MFR Business Development Director and Coordinator of the e-MFP Investors Action Group Lucia Spaggiari, explains how financial inclusion and impact finance are learning from each other at the frontier of social performance management.

June 18, 2017

Insight – Responsible pricing: field evidence

MFR would like to share its experience in assessing responsible pricing and to provide some operational guidance to financial service providers (FSPs) to promote best practices. The recommendations presented here largely draw upon the research and guidance provided by responsible inclusive industry stakeholders, namely MFTransparency, Smart Campaign, and the Social Performance Task Force.

April 15, 2017

Research Paper on the Socio-economic Outcome Management of Microfinance Services in Palestine

In the framework of FIN PAL – Financial Inclusion in Palestine Program, financed by the Italian Agency for Development Cooperation, MFR was engaged to develop this research. The paper aims at designing the architecture to manage outcome, proposing a set of indicators and two alternative approches, tailored to the context of microfinance in Palestine (but customizable for other countries). This paper is strongly positioned as a pioneer in the growing literature of measuring the changes at client level thanks to the innovative perspective of involving the whole industry in a systematic way, with a shared and agreed methodology.

March 23, 2017

Risk Management, the Engine for Responsible Financial Inclusion

Towards positive impact on risk management and consumer protection. The Risk Management Graduation Model (RMGM) is a scalable, comprehensive risk management framework for microfinance institutions. This framework has been rigorously developed, tested, and implemented by financial institutions, consultants, networks, and microfinance associations worldwide as a global risk management benchmark.

May 29, 2019

Digital Pathways in Financial Inclusion

The key relationship between financial inclusion and the technology that enables it is increasingly well recognised. The European Microfinance Award 2018 highlighted the ways financial services providers can integrate new technological opportunities into how they serve theirclients. It sought to highlight technology-enabled services that are improving access to finance for low income and
financially excluded clients. By recognising those that do it best, it hopes to promote those financial providers that offer innovative products and services capable of responding to users’ needs for trust, speed, low cost, security, usability, and transparency, and become standard-setters for other players in the market. This publication, carried out by e-MFP with Lucia Spaggiari, Chiara Pescatori, Gabriela Erice, Gemma Cavaliere, and Daniel Rozas, features the winner, finalists and semi-finalists of the 2018 Award.

November 7, 2016

Guidelines on Outcomes Management for Investors

Outcomes Management for Investors: “Guidelines for integrating outcomes measurement, analysis, and reporting into the operations of inclusive finance investors, asset managers, and other funders”. The paper is developed in partnership with the European Microfinance Platform (e-MFP) and the Social Performance Task Force (SPTF).

These guidelines review emerging practices and provide insights on why and how investors can engage in the challenging task of outcomes management.

September 27, 2016

Insight – Financial literacy

Client financial literacy is generally low. It is not automatically achieved with financial access and it needs deliberate financial education measures to improve. Henley Business School and MFR would like to contribute with a client level research to the analysis of financial literacy and its implications.

November 15, 2015

Insight – Housing outcome

Change measurement and housing microcredit: a good match.

The measurement of outcomes appears to be relatively more cost-effective in housing than in other areas such as income.

Lapo Microfinance Bank in Nigeria received funding from the French Development Agency to develop a loan product to finance affordable housing. MFR would like to share the experience of developing a system to measure the outcome of the affordable housing loans.

July 6, 2015

Baromètre de la Microfinance 2014

Depuis les premières expériences de microcrédit il y a 40 ans, le secteur de la microfinance a connu une forte croissance. Ce rapide développement positionne la microfinance comme un instrument majeur d’inclusion financière, même si le secteur a connu des crises qui appellent à la mise en œuvre de modèles économiques plus responsables pour assurer la pérennité de sa mission.

À l’intérieur des graphiques donnent un aperçu des notations sociales dans le monde.

January 7, 2015

Insight – El nuevo marco regulatorio para las microfinanzas en Bolivia

Bolivia es reconocida internacionalmente como el país donde empezó, a inicios de los años noventa, la “comercialización” de las microfinanzas, con la constitución del primer banco especializado en microfinanzas (Banco Solidario S.A.) y con la creación de los Fondos Financieros Privados como un medio de transformación de las ONG´s de microcrédito en entidades reguladas (FFP´s). El sector de las microfinanzas creció rápidamente, logró superar exitosamente una fuerte crisis de sobreendeudamiento en el 2000, y se consolidó gradualmente a través de los años, consiguiendo amplio alcance, buena cobertura geográfica y resultados económicos positivos.

MFR desea compartir los cambios observados en el nuevo marco regulatorio para las microfinanzas en Bolivia, sus beneficios e implicaciones con el objetivo de identificar las consecuencias y posibles resultados para el sector en el corto y mediano plazo.

November 10, 2014

Insight – The Microfinance Sector in Nigeria

Since the advent of microfinance banking in Nigeria, the microfinance sector has been confronted with several challenges and the impact of the global financial crisis on microfinance banks has been more severe than anticipated.

MFR would like to share the main features of the Nigerian microfinance sector, highlighting the major challenges the industry is still facing.

July 8, 2014

Microfinance Barometer 2013

In less than a decade, microfinance has generated two opposite reactions: hope and enthusiasm, following Muhammad Yunus and the Grameen Bank’s Nobel Peace Prize; doubt and mistrust, in the wake of repeated crises worldwide. So, is there still a case for microfinance? In this 4th edition of the Microfinance Barometer, researchers and practitioners worldwide answer positively: not only does microfinance have the potential to contribute to the social, economic and financial inclusion of the worse-off populations; it is also ready to take the necessary steps to ensure that its practices are more responsible, innovative, and impactful.

Inside, a series of graphs showing worldwide social rating results.

May 12, 2014

Does Good Client Protection Impact Financial Performance?

Financial Performance and Good Client Protection.

Serve clients well. Prevent over-indebtedness. Be transparent and price products reasonably. treat clients respectfully, listen to their grievances and protect their privacy. It’s hard to argue against any one of these things. The seven Client Protection Principles make undisputedly good sense. But do they make for good business?

March 14, 2014

Insight – The Microfinance Sector in Morocco

Morocco microfinance sector is among the most developed in the MENA Region, accounting for about 64% of the total outstanding portfolio in the Region.

MFR would like to share some of the results arising from the Country Study recently carried out in Morocco, with a particular focus on the repayment crisis that affected the Country and highlighting the main opportunities and threats for investments in the microfinance sector after the crisis.

December 28, 2013

Insight – Educación Financiera

El 75% de los proyectos de Educación Financiera comenzaron a finales de los años noventa. Es notorio el reciente interés que la educación financiera ha despertado alrededor de todo el mundo, existiendo varios factores que legitimaron la necesidad de la educación financiera, tales como:

• Asimetrías de información entre agentes económicos
• Características del mercado financiero (número de instituciones, cantidad de productos y servicios, novedosos canales, etc.)
• La Crisis Financiera Internacional (2007 – 2008)

La metodología de calificación social examina los servicios no financieros así como políticas y proyectos de responsabilidad social que beneficien a la comunidad.