Fonkoze, Zafen’s partner in Haiti, released its 2010 Social Performance Report (pdf), Keeping Our Clients on the Staircase Out of Poverty, an annual self-assessment of Haiti’s leading microfinance institution’s progress toward its social mission. The report highlights how Fonkoze’s ongoing commitment to client monitoring, program evaluation, and self-improvement made it uniquely prepared to support its clients through the challenges of 2010, including a devastating earthquake, a cholera outbreak, and a tropical storm.
(Zafen’s latest project with Fonkose, Pathway to a Better Life, is currently running a $100,000 matching grant. So contribute now and double your money nowing that your money is being used very effectively in the most of situations!)
Through its social performance monitoring department, Fonkoze uses Grameen’s Progress out of Poverty Index® (PPI®), a food security survey, exit interviews, and focus groups to evaluate program effectiveness and monitor client progress and satisfaction.
“This year we used the data collected by our social performance department to inform and evaluate our earthquake recovery program, which piloted important new products and services such as catastrophe micro-insurance and disaster preparedness education sessions,” shared Fonkoze Director, Carine Roenen. “These innovations are designed to equip clients and their families with permanent access to the tools and knowledge they need to better protect themselves from disasters.”
The report highlights the results and lessons from Fonkoze’s evaluation of its earthquake recovery program. The program ended with a 97% repayment rate on new loans, surpassing even pre-earthquake levels. 86% of participants declared they were completely satisfied with the program and 100% declared they were ready for a permanent natural catastrophe micro-insurance product. Fonkoze also received an award from the Smart Campaign, a global initiative to encourage strong client protection practices in microfinance, for developing model tools to avoid client over-indebtedness in the post-disaster context.
Fonkoze is Haiti’s largest microfinance institution (MFI), with 46 branches serving more than 55,000 borrowers and 255,000 savers in every region of Haiti. It is one of the best known MFIs worldwide for its innovative approaches to reaching the poorest and accompanying them on their journey out of poverty. Fonkoze is also an industry leader in social performance management. Its Social Performance Monitoring and Market Research department is a 17-member team dedicated to the routine and systematic monitoring of Fonkoze’s clients and programs. Fonkoze is a fully certified user of the Grameen Progress out of Poverty Index® and is a two-time recipient of a Gold Certificate from the Social Performance Task Force and the Microfinance Information eXchange (MIX) for achieving the highest standards in social performance reporting. For more information, visit www.fonkoze.org.