SMARTRAC: consultancy for risk and sustainability management
SMARTRAC stands for Sustainability, Management, Accountability, Risk, Transparency, Assurance and Compliance. It is a capacity building programme designed for microfinance institutions (MFIs), particularly in Africa, that wish to improve their skills for managing and monitoring risks and sustainable performance. SMARTRAC is an initiative of Triodos Investment Management and Triodos Facet, and is predominantly financed by the European Union, Triodos Foundation and DOEN Foundation.
Triodos Investment Management has accumulated significant experience and expertise in evaluating MFIs by conducting due diligences visits prior to investng in an institution, either through loan facilities or equity participations. The due diligence findings are generally communicated as feedback to the MFI. Using this feedback, the SMARTRAC programme allows Triodos Investment Management to assist the MFI in addressing these issues by providing tailor-made technical assistance focused on strenghtening risk and sustainability management.
The consultancy is offered by experts from Triodos Facet and based on long-term experience in micro- and sustainable banking. In order to combine local and international expertise and exchange experiences, it is conducted in close cooperation with (a) local consultant(s).
The SMARTRAC programme became operational in 2006 and has, so far, conducted consultancies in Uganda, Ghana and Rwanda. These consultancies concentrated on issues such as credit risk management, liquidity management, assets & liabilities management and internal audit.
In October 2007, SMARTRAC has started working closely with an MFI in The Gambia on Sustainability Management and Reporting. Technical assistance focuses on developing systems to manage information on the social and environmental impact of the MFI; and integrating the disclosure of financial, social, and environmental performance.
MFIs in Malawi, Kenya and Tanzania have expressed their wish to participate in the SMARTRAC programme. Those African MFIs who are interested to participate are referred to the following website: www.triodosfacet.nl. Information about SMARTRAC can be found under Special Services.
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