As you may know, a group of stakeholders, including SUFFICE, FSDU, AMFIU, MSC Ltd, GTZ/Sida and Rural SPEED have created a local rating fund to make ratings available to smaller MFIs, including SACCOs, in Uganda. The local rating fund subsidizes up to 85% of the cost of the ratings.
To help make the ratings more affordable, an internationally recognized firm, Planet Rating, has opened an office in Kampala. The ratings it conducts examine all aspects of the operations of the institution, including governance, management, reporting, portfolio management, products, market, MIS and staffing. The rating reports are transparent, concise, comprehensive descriptions of the institutions, which provide a roadmap for it to build on its strengths and correct any weak areas. At the same time, ratings are critically useful guides to investors and providers of capacity building services.
Being rated is evidence of the institution's commitment to transparency and improvement. Ratings are posted on the website of the local rating fund, and we invite donors, partners and all interested parties to consult the ratings of the institutions which are posted there. Each institution receives a letter grade from the rating agency. However, it is important to take the entire rating report into consideration, and not simply the assigned grade.
Ratings of the following institutions are available for download at the Rating Agency website, www.ratingfund.or.ug
MAMIDECOT, Masaka TERUDET, Soroti UGAFODE, Kampala
Also, Ratings have been performed, and will soon be posted, for the following institutions:
KAHUNGE, Kamwenge KALCADA, Kamwenge NADDANGIRA AGALI AWAMU, Wakiso
For more information about the rating fund, please consult the rating fund website at www.ratingfund.or.ug
Below is a summary of the approved rating reports and the pending rating reports:
Approved rating reports
MAMIDECOT Masaka Grade not assigned
TERUDET Soroti D
UGAFODE Kampala C-
Pending rating reports
KAHUNGE Kamwenge district
KALCADA Kamwenge district
NADDANGIRA AGALI AWAMU Wakiso district
For further information about the rating reports, the public should view http//www.ratingfund.or.ug