MICRORATE INCORPORATED
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
The aim of this project is to support two FMO clients - Fortis Microfinance Bank PLC and Lift Above Poverty Organization (LAPO) in Nigeria - in their approach to Client Protection Principles (CPPs). CPPs are the minimum standards that clients should expet to receive when doing business with a microfinance institution (MFI), and are intended to help MFIs practice good ethics and smart business (smartcampaign.org).
What is our funding objective?
Both organizations seek to adhere to the principles, having already undergone a CPP assessment, and want to continue with an improvement of their business model. Microrate Incorporated is the consultant who will execute the assessments with both clients. Capacity development funding will be provided to both organizations for the purposes of this assessment, and thus used to strengthen their client protection credentials.
Why do we fund this investment?
FMO is a partner and signatory to the Smart Campaign, which spearheads the Client Protection Principles. With this project we hope to be able to improve the Client Protection Principle practices of both Fortis Microfinance PLC and LAPO in Nigeria, helping them to remain responsible and sustainable organizations as they grow.
- Website customer/investment
- http://www.microrate.com
- Region
- Africa
- Country
- Nigeria
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 6/16/2014
- End date
- 2/13/2017
- Total FMO financing
- EUR 0.02 MLN
- Funding
- MASSIF