Promoting Inclusive Markets and Financial Systems
Many of the inclusive finance providers (Microfinance institutions, financial cooperatives, NGOs, microfinance banks, etc) in Africa have a social mission –they seek to improve access to finance, reduce poverty, increase employment, empower women, ensure food security and promote economic growth. Although inclusive finance providers in Africa were created to provide financial services to the excluded population, they were heavily involved in ensuring their financial sustainability. It should be noted that financial sustainability is not an end by itself, rather a means to achieving social goals. It was only recently that there has been an increasing focus on social performance management (SPM) and measurement. Despite the long standing understanding that social goals and objectives lie at the heart of inclusive finance providers, it is only recently that an organized effort has been made to promote social performance. As a result, social performance management, measurement, and reporting in Africa are at their infancy stage. Of the 405 MFIs that reported on social performance to MIX market in 2009-2010, only 6 MFIs were from Africa. There is a need to take a deliberate action by inclusive finance providers, country-level networks (CLNs), regional networks, policymakers, and development partners to design and implement SPM activities in Africa.
 Micol Pistelli, Anton Simanowitz and Veronika Thiel (2011) The state of practice in social performance reporting and management: A survey of 405 MFIs reporting to MIX in 2009-2010. Microbanking Bulletin. MIX and Imp-Act Consortium.