Tel: +44 (0)1474 330 730 | Fax: +44 (0)1474 321 423 (UK) | Tel: +233 (0) 307 037878 (Ghana)

Ratings & Appraisals

FIAC performs specialized MFI appraisals and ratings – using The MIR rating tool – on behalf of MFIs, donors, investors, and governments. These services provide independent expert evaluation and verification of individual MFI performance, based on international microfinance best practice and country specific commercial banking reporting norms.

The MIR rating tool, appraisal tool and Investor Report were developed by FIAC staff in cooperation with MicroRate. The tools are based on national and international standards, providing information for the banking industry, as well as international investors

The rating tool lends itself well to a range of purposes and can be quickly adapted to different client needs. The ultimate MIR product is the full rating, which is typically conducted by two analysts over a period of two to three field days, with an additional two to three days required for advance preparation and report finalization, depending on the size of the MFI. However, the following additional products and services are also offered:

  • Full Appraisals (does not include financial or portfolio audit)
  • MFI Desk Reviews (covering financial statements, business plans, etc.)
  • Rapid Institutional Appraisals (1 field day for two analysts)
  • Technical Assistance Needs Assessment
  • Commercial Funding Recommendations
  • Benchmarking
  • Research related to aggregated rating findings
  • Social rating

Ratings typically result in an Investor Report, which provides detailed information and statistics on MFI operational, financial and strategic performance. FIAC also conducts shorter MFI Appraisals, which do not include financial verifications, but give a comprehensive picture of institutional operations and performance and often act as the basis for future technical assistance or establishing new partnerships.


Waterman House.
1 Lord Street, Gravesend
Kent, DA12 1AW

Tel: +44-(0)1474-330-730
Fax: +44-(0)1474-321-423


Office Location: House No 26, 9th Avenue. Ata Street.
Tesano. Accra. Ghana.
Post Box KN 6059.
Kanrshie, Accra, Ghana

Tel: +233 (0) 307-037878


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