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.