The e-MFP Investors Action Group results from the enlargement of the former e-MFP Investors in Tier 2&3 MFIs Action Group. Its aim is to provide a platform for a broad spectrum of investors (debt & equity, social and commercial) to share experiences and collaborate on areas of common interest.

Sustainable Development Goals (SDGs) Outcomes Measurement

Since 2019, the Action Group led by CERISE, a French non-profit organisation, pioneer in matters of social performance management, has been developing a project to explore innovative approaches for investors on measuring and reporting outcomes on the Sustainable Development Goals (SDGs).

During EMW 2020, the Action Group organised two sessions. The first was a working session organised jointly with SPTF’s Social Investor Working Group and LabODD. It focused on data quality and use of data, with one MFI (ESAF India), one global network (Opportunity International), and one investor (Oikocredit) sharing their experiences. The second was a panel discussion moderated by CERISE on how different stakeholders try to manage results and customer data aligned with the Sustainable Development Goals (SDGs). During the session, innovative and concrete experiences from investors and DFIs were presented, with panellists from GIIN, FMO and Symbiotics discussing the challenges and way forward regarding outcomes measurement and management.


EMW 2020 Panel Session: Impact investing and reporting on SDGs outcomes


Joana Afonso

Past Projects

  • Responsible Exits

In partnership with NpM, Platform for Inclusive Finance and the Financial Inclusion Equity Council (FIEC), the Action Group explored the question of how social investors committed to advancing responsible finance practices should exit responsibly from the MFIs in which they have invested over the years.

See Caveat Venditor: Towards a Conceptual Framework for Buyer Selection in Responsible Microfinance Exits, April 2018

  • Social Performance in SME Finance

The Action Group has partnered with SPTF and CDC in a joint project that has as objective consolidating the information available on how to evaluate social and environmental performance management (SPM) for FSPs financing SMEs. In order to do so, the project aims to map the relevance and applicability for SME finance of the USSPM, MIV due diligence tools and other frameworks, identify possible gaps and provide indications on how to fill the gaps.

See Assessment of the Sustainable Performance of SME Finance Service Providers, October 2018

  • Social Performance Outcomes

In 2016-2017 the Action Group partnered with SPTF and its Outcomes Working Group in order to develop guidelines for integrating outcomes measurement into the operations of inclusive finance investors.

See Guidelines On Outcomes Management For Investors: Guidelines for integrating outcomes management, analysis and reporting into the operations of inclusive finance investors, asset managers, and other funders, October 2016


Since 2015, the Action Group organises trainings for investment officers with a two-fold objective: increasing the officers’ capacity on different aspects related to due diligence and improving networking among officers in order to facilitate the sharing of main conclusions of due diligence between the key MIVs, and thus, ultimately, improve the social and financial performance of MFIs.

The following trainings have taken place:

Due diligence for MFIs venturing into SME finance

Delivered by Elza Herman, the training took place on October 13th 2017 in Addis Ababa, in the framework of the African Microfinance Week.

Delivered by Alex Silva and Georgina Vázquez, from OMTRIX, this training took place on November 16th 2016, in the framework of the European Microfinance Week.

How to assess the management information system (MIS) during a due diligence process
Delivered by Gabriel Metz and Patrick Gobin, eCacaoS, the training took place on November 18th 2015, in the framework of the European Microfinance Week.

The training was organized again on April 11th 2016 in The Hague in partnership with Npm, Platform for Inclusive Finance and Cordaid.

Challenges encountered while conducting due diligence of Tier 2/3 MFIs
Delivered by Gregory Thys and Charles Cordier, from Azimut Inclusive Finance, the training took place on July 3rd 2015 in Dakar, in the framework of the African Microfinance Week.