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MicroRate is the first rating agency specializing in the evaluation of microfinance institutions (MFIs). Its objective is to link MFIs with funding sources and in particular with international capital markets. MicroRate evaluations allow lenders and investors to measure risk and they thereby help to create the transparency without which financial markets cannot work.
Over the past decade, MicroRate has analyzed over 300 MFIs in Latin America and Africa and other developing regions. This provides a unique basis of practical experience and of performance data – captured in an industry database- which MicroRate uses to determine trends and performance benchmarks.
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Evaluation teams visit MFIs tracked by MicroRate for annual updates. Interim financial and portfolio data are incorporated semi-annually. Evaluation teams check portfolio quality, information systems, internal controls, market environment and the financial health of the MFI. They interview all levels of management and staff, sample portfolio quality and analyze financial and operational data.
MicroRate does not apply a rigid rating formula. Rather, building on their extensive experience, evaluation teams concentrate on identifying critical risks.
Evaluations are summarized in succinct reports, which highlight strengths and weaknesses and discuss critical areas. MicroRate evaluations are generally commissioned by MFIs themselves, though founders, donor agencies and investors utilize evaluations in their due diligence process. MicroRate also supervises MFIs on behalf of lenders or donors. However, to avoid conflicts of interest, MicroRate does not provide consulting services nor is it affiliated with any lender, donor or investor. |
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| The People |
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| Damian von Stauffenberg |
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A German national, is the founder and principal of MicroRate, the first rating agency for microfinance institutions. MicroRate was designed to provide transparency and in that way attract commercial funding sources to microfinance. DvS has had a long and successful career with the World Bank and its private sector affiliate, the International Finance Corporation (IFC). |
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| Sebastian von Stauffenberg |
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The Latin American General Manager, joined MicroRate in 2003. In addition to running MicroRate’s Latin American operations and conducting ratings throughout Latin America and Africa, Sebastian is responsible for new product development and microfinance investor services. Sebastian is a German national and holds undergraduate degrees in Economics and Philosophy, and earned his MBA from Georgetown University in Washington DC. Prior to joining MicroRate Sebastian taught philosophy and theology. He began his career as a Senior Consultant for Arthur Andersen in Germany. |
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| Craig Kirkwood |
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The African General Manager, joined MicroRate in 2004. Craig is a South African national and holds an Honors Degree in Business from Cape Town University, South Africa. Craig has conducted numerous ratings over 15 african countries. Before joining MicroRate, Craig worked for Global Credit Ratings, specializing in large industrials and commercial banks. |
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| Gregory Thys |
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Holds an Honors Degree in Business and Administration and a Master in Development studies of the Catholic University of Louvain-la-Neuve. Gregory is a belgian national and joined MicroRate Africa in 2005 to run Operations in francophone Africa (Dakar). Now based in Johannesburg, Greg is responsible for francophone Africa and has conducted ratings in over 15 african countries. Before joining MicroRate, he was based in Dakar, Senegal and worked as a technical advisor in Microfinance for a belgian NGO. |
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| Ben Midberry |
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Graduated with high honors in Accounting from Grove City College. He began his career in PricewaterhouseCoopers’ Assurance practice and currently works as a Project Development Specialist and Analyst from our Washington Metro headquarters. |
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| Maritza Rodríguez Saavedra |
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Is a Peruvian public accountant with a Masters in Business Administration and fourteen years experience with the largest microlender in Peru, most recently as internal auditor. She has worked with MicroRate as a Financial Information Manager since 2000. |
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| Andrea Pacheco Calle |
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Joined MicroRate in August 2002 as an Executive Administrator providing logistical and administrative support to the Lima Office. Ms. Pacheco holds a bachelors degree in Secretarial Administration. She has wide experience in supporting areas like finance, treasury, collections, sales, human resources, insurance, operations and customer service. |
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| Carlos Ayón Wu |
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Is an industrial engineer with a degree from the Catholic University in Peru and a Masters in Business Administration from the University of Piura. Mr Ayón joined the Lima office in 2003 and brings six years of experience working in consumer, small business and microfinance credits for the largest Commercial Bank in Peru. Actually, he has over 50 evaluations in about 12 countries in Latin America. |
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| Maria Belén Effio |
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Joined MicroRate as an analyst at the beginning of 2003. An Economist, with a degree from the Catholic University in Peru, Miss. Effio has seven years of banking experience in small business credit. She also has experience in investment portfolios, and microfinance evaluations. |
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| Gabriel Miranda |
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Joined MicroRate as an analyst in early 2006. Mr. Miranda graduated in Business Administration from Universidad de Lima, PERU. He holds a certification in Treasury and financial planning. He has working experience in the Peruvian industrial and financial sectors. |
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| Daniel Escalante |
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Joined MicroRate as an analyst in early 2006, graduated in Accounting and Business Administration from Universidad del Pacifico. He began his career in Ernst & Young’s’ Assurance practice working with financial and industrial enterprises. Currently works as an analyst from the Lima offices. |
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| Enrique Blanco |
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Joined MicroRate as an analyst in August 2006. An Economist with a degree from the San Martin University in Peru, Mr.Blanco holds a Master’s degree in International Business from the South Carolina University in USA. He has working experience in investment funds in Microfinance and has attended the 2006 Boulder Program at Turin. Currently works for MicroRate from the Lima offices. |
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| Jorge Chi |
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Currently working as an analyst from the Lima offices. Mr. Chi graduated in Economics with a minor in International Business and Capital Markets from Universidad de Lima, Peru. He is currently working towards a bachelor’s degree in Accounting with a minor in Collections. |
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