Over the past few years, the microfinance industry has experienced rapid changes due to the effects of turmoil in financial markets and has received increased scrutiny as a result of the business practices of some microfinance institutions (MFIs). Now more than ever, it is important for the sector to have access to transparent, reliable, and relevant microfinance data and analysis.
With the microfinance industry evolving at a rapid pace, over the past several years the criteria by which we evaluate the performance of microfinance institutions has changed. Now more than ever it is important to not only look at the growth or financial sustainability of an MFI; but their commitment to transparency and accountability in their efforts to achieve their social ends as well.
Enhancing Access to Financial Services (NRB-EAFS)” project – aimed at strengthening the capacity of the Nepalese microfinance sector – has recently registered all seventeen of its partner MFIs on MIX Market, thanks to the efforts of the Centre for Microfinance (CMF), MIX’s in-country data collection partner. Both technology and transparency remain significant challenges to MFIs in Nepal, and the creation of these new profiles represents a major step in addressing such issues.
January 3, 2012 - This past year has been one of the most challenging on record for the microfinance industry. As the sector dealt with the effects of a global financial crisis, publicity around questionable practices in certain markets, and rising awareness of the risks of over-indebtedness, the need for MIX’s objective, reliable, and comprehensive data and analysis became even more apparent.
Join us December 5 through 7 for an online discussion of MIX’s recent data collection efforts and analysis of financial inclusion in Africa on the SEEP blog. This is your chance to discuss African financial inclusion with MIX’s expert analysts, data contributors and your colleagues in the industry!
October, 12, 2011— Today, Microfinance Information Exchange (MIX) announced the launch of MIX Silver—a value-added, fee-based service for business users that furthers MIX’s mission of promoting financial inclusion and fostering transparency in the microfinance sector. Developed in response to intensive market research, these new solutions address users’ need for timely data and deeper microfinance insight.
Washington, D.C., September 19, 2011 – MIX (Microfinance Information Exchange), today launched the Africa Map of Financial Inclusion for the Poor (africa.mixmarket.org) to help practitioners and policymakers better understand access to finance in Africa. This interactive tool is part of a $2 million, 3-year partnership with The MasterCard Foundation to enhance core functions of the MIX Market web platform, and improve visibility and access to financial inclusion information in Africa.
MIX is excited to announce that MIX Market has just reached 2,000 reporting MFIs! MIX Market is the largest database of microfinance information featuring data from MFIs in 110 countries that represent over 92 million borrowers. Of those MFIs that report to MIX, more than 440 MFIs have submitted their social performance information, which is now displayed directly alongside the financial information on each institutions profile. MIX Market's database also features more than 300 profiles with interim data in addition to annual performance information.
As the microfinance industry evolves, so too does its understanding of its own goals and practices. Over the past few years, the industry has come to recognize that sound financial performance is not sufficient to ensure the achievement of microfinance’s social objectives. Social performance management — the process of ensuring that an MFI acts in a socially responsible manner — has emerged as a crucial factor in addressing this issue.