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60dB Microfinance Awards

Introducing the Social Impact Award winners of the Microfinance Indexes, the world’s largest financial inclusion study grounded in customer voice.
2025 MFI Index Get in touch

Meet the Winners

Geography Name Country
Africa Small Enterprise Foundation (SEF) South Africa
BRAC Liberia Microfinance Company Liberia
Standard Microfinance Bank Nigeria
Asia Sindhuja Microcredit India
Cashpor Micro Credit India
Annapurna Finance Pvt. India
Latin America FAMA S.A. Nicaragua
Fundación Paraguaya Paraguay
Fundenuse Nicaragua

Award Criteria

Data Collection

Awards are based on our Microfinance Index, which assesses financial service providers’ social performance across twenty-three indicators and six impact themes and ranks their performance by region (Africa, Asia and Latin America). We use a standard survey to gather data for the indicators from a representative sample of clients at each financial service provider.

Scoring & Ranking

To rank performance, for each FSP we calculate a relative score for each indicator, average the indicator scores within the same dimension, and then average the scores across dimensions for an Index score. The Index scores are ranked from highest to lowest. All indicators within each dimension are equally weighted, and all dimensions are weighted equally. However, some dimensions have a different number of indicators.

Award Selection

60 Decibels selected these indicators and dimensions based on our experience in Financial Inclusion and with consultation from experts. 60 Decibels did not select the institutions to participate in the Index, their participation was voluntary and sponsored by their investors or by the FSPs themselves.

The Dimensions

  • Access

    Measures the degree to which FSPs are serving a previously underserved population, the competitive landscape, and the degree to which they are serving less well-off clients.

  • Household Impact

    Measures the impact of [FSP] on clients’ quality of life and their ability to invest in or cover household expenditures.

  • Loan Product Impact

    Measures the impact of the loan product depending on the original purpose of the loan. This covers impact on clients’ business, housing, and/or education.

  • Client Protection

    Measures the degree to which clients are informed of FSP’s loan conditions prior to borrowing, and the ability of clients to make repayments without reducing other household consumption.

  • Agency

    Measures the impact of [FSP] on clients’ confidence, ability to make decisions about their money, and contributions to clients’ ability to achieve their financial goals.

  • Resilience

    Measures the degree to which clients are financially prepared for an unforeseen economic shock, and the impact the FSP has on this preparedness. It also measures the client’s ability to manage finances and save.

Explore the 2025 MFI Index
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