introducing amt african microfinance transparency european week of microfinance, luxembourg 24 –...
TRANSCRIPT
Introducing Introducing AMTAMT
AfricanMicrofinanceTransparency
European Week of Microfinance, Luxembourg 24 – 26 November 2009
Initiative sponsored by
What is AMT?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? 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?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 forumEuropean Week of Microfinance, Luxembourg 24 – 26 November 2009
Where are we today?Where are we today?
Additional activities have now
been implemented:
1. 2nd 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?Where are we today?Additional activities have nowbeen 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 membersEuropean Week of Microfinance, Luxembourg 24 – 26 November 2009
AMT Membership 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?How can you join AMT?IT’S SIMPLE!
To be a member, MFIs must meet the following criteria:1. Be based in Africa2. Have undergone a rating3. 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 [email protected] indicating that you meet the above criteria or apply online at www.amt-forum.org
AMT also accepts associate members. European Week of Microfinance, Luxembourg 24 – 26 November 2009
How much does it cost?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 How do you remain a member in good standing?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’s3. Participate regularly in activities
European Week of Microfinance, Luxembourg 24 – 26 November 2009
Our Challenge?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!Thank You!
Initiative sponsored by
For all further questions, please contact the AMT coordinator:
Miss Emma-Jayne Paul
Tel: +352 45 68 68 31
www.amt-forum.org
European Week of Microfinance, Luxembourg 24 – 26 November 2009