Introducing AMT African Microfinance Transparency European Week of Microfinance, Luxembourg 24 – 26 November 2009 Initiative sponsored by

What is AMT? “Promoting Efficiency and Transparency amongst African MFIs” Established in 2003, its objective is to reinforce the credibility of the African microfinance sector by encouraging a larger number of MFIs to provide transparent and standardised information, It seeks to do this by developing the use of microfinance ratings of African MFIs so as to promote their growth development and professionalization. AMT is now a legally constituted organisation registered in South Africa (2008), AMT is funded by ADA asbl in Luxembourg. European Week of Microfinance, Luxembourg 24 – 26 November 2009

What is AMT? AMT is primarily a discussion forum which brings together rated African MFIs with the rating agencies that are active on the continent. All members are brought together on an annual basis for the General Assembly which allows them to: Discuss relevant issues affecting the African microfinance market and more specifically the microfinance rating market Share experiences Identify ways of improving the sector as a whole European Week of Microfinance, Luxembourg 24 – 26 November 2009

What has AMT achieved? 1. The definitions of ratios were standardized 2. New and appropriate measures/ratios were developed (ratios to measure savings) 3. A rating agency code of conduct was developed to ensure supply side best practice 4. The forum acts as arbitrator to resolve any conflict between MFIs and rating agencies 5. The forum positions itself w.r.t. issues affecting its members and the industry (new rating products & Padme affair etc.) 6. The forum acts as a facilitator to link members with service providers 7. Information dissemination (newsletter and technical publications) 8. Meets every 12 to 18 months as a forum European Week of Microfinance, Luxembourg 24 – 26 November 2009

Where are we today? Additional activities have now been implemented: 1. 2 nd AMT microfinance investor’s fair was held in October 2009 (brought together over 52 rated African MFIs with 18 different investors). 2. Awareness-raising workshops on ratings are held twice a year for unrated MFIs to learn more about the rating process and its benefits. AMT Investor’s Fair, Dakar, 2008 European Week of Microfinance, Luxembourg 24 – 26 November 2009

Where are we today? Additional activities have now been implemented: 1. AMT maintains a directory of investors active in Africa and a database of recommended consultants for members 2. Launched a website which hosts the executive summary of all member MFI rating reports, information on AMT, events, news, almost 100 rating reports 3. Conducts regular transversal analysis studies of the performance of its members European Week of Microfinance, Luxembourg 24 – 26 November 2009

AMT Membership Membership Currently 37 MFI members from all over Africa (some of which were the first to have a rating in Africa) The 3 specialised rating agencies: MicroRate, Microfinanza Rating & Planet Rating 2 associate members: The MIX & Alafia network European Week of Microfinance, Luxembourg 24 – 26 November 2009

How can you join AMT? IT’S SIMPLE! To be a member, MFIs must meet the following criteria: 1.Be based in Africa 2.Have undergone a rating 3.Be prepared to engage in regular ratings (at least once every 2 years) To be a member, rating agencies must meet the following criteria: 1.Conduct ratings in Africa 2.Subscribe to the AMT rating agency code of conduct All you have to do is send an expression of interest to the coordinator at indicating that you meet the above criteria or apply online at AMT also accepts associate members. European Week of Microfinance, Luxembourg 24 – 26 November 2009

How much does it cost? Full members pay an annual membership fee of €500. This fee entitles members to the following: Attendance and participation at the AMT annual General Assembly (voting rights are for full members only & for 2009 travel and accommodation costs are covered) Attendance at all AMT events (investor’s fair, awareness-raising workshops etc.) with registration fee discount or waiver Involvement in AMT working groups activities Profile and logo to be presented on the website Opportunity to announce events or information through AMT Inclusion in AMT’s information dissemination list and quarterly newsletter Facilitation of joint initiatives with other AMT members Fees vary for associate members European Week of Microfinance, Luxembourg 24 – 26 November 2009

How do you remain a member in good standing? IT’S SIMPLE! To remain a member, members must meet the following criteria: 1.Engage in regular ratings (at least once every 2 years) 2.Pay your membership fee’s 3.Participate regularly in activities European Week of Microfinance, Luxembourg 24 – 26 November 2009

Our Challenge? To promote a balanced, open and competitive market for performance evaluations/ratings Encourage a larger number of African MFIs to be rated and to promote the establishment of an institutional culture of transparency © Jeff Ashe European Week of Microfinance, Luxembourg 24 – 26 November 2009

Thank You! Initiative sponsored by For all further questions, please contact the AMT coordinator: Miss Emma-Jayne Paul Tel: European Week of Microfinance, Luxembourg 24 – 26 November 2009