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December 2016
CERISE Newsletter


SPI4 & Microfinance

Investors adopt SPI4 ALINUS for due diligence and monitoring

Looking to spend less time on data collection and more time on making use of it? Join the increasing cadre of investors who’ve adopted SPI4-ALINUS, the subset of indicators selected by and for investors to streamline social data collection. As of December 2016:
  • 5 investment funds/DFIs are currently using ALINUS, including Grameen Crédit Agricole Microfinance Foundation.
  • 7 others are actively testing and/or conducting revision and adaptation of their own scorecard directly from ALINUS/SPI4 indicators
  • Another 8 have participated in tailored awareness raising sessions with CERISE/SPTF
Find out more in this newsletter or at


Social performance indicators for European microfinance

The European Investment Fund (EIF) has partnered with CERISE to design and develop a social assessment tool for due diligence and monitoring of institutions supported under EaSI, the European Commission’s Programme for Employment and Social Innovation.
The tool is aligned with the Universal Standards for Social Performance Management, while addressing specific socio-economic challenges of inclusion in European markets. The tool reflects the EIF’s investment strategy and links to the European Code of Good Conduct for Microcredit provision. CERISE and EIF created an Excel assessment tool via interactive workshops and a pilot with 10 MFIs to select the key indicators.

Top ten countries reporting with SPI4


#  SPI4 audits

# MFIs reporting



Bolivia  18 14
Philippines 16 13
Ecuador 13 10
Senegal 11 11
Morocco 10 7
Pakistan 9 6
DRC 8 8
Rwanda 7 5

SPI4 in numbers as of 20 December

247 questionnaires completed from

73  different countries

33 audits underway

30 in the pipeline

78 qualified auditors

Social Business

Social Business Scorecard for due diligence
During the first quarter of 2017, CERISE will be working on a rapid assessment version of its Social Business Scorecard, with the support of the French Ministry of Foreign Affairs. 
This version will be integrated into the SBS tool, as a selection of indicators adapted to the specific needs of impact investors for due diligence of social businesses.
If you are a social or impact investor and would like to participate in the co-development and testing of this new tool, contact us soon!

Training for NGOs on Social Business with AFD 
On December 8th, CERISE led an online training on social business in French for NGOs and their partners. The training was designed to gauge interest and better understanding capacity building needs.
35 people from 13 organizations were introduced to the founding concepts of social business, as well as issues related to TA providing, financing social start-ups and choosing the right legal status. The presentation is available at (in French).

Lead Campus: primer on social entrepreneurship 
In September, CERISE led a social business sessions during the professional development program  Lead Campus (coordinated by Sciences Po,  CEFEB, University of Cape Town and ISM-Dakar). The African executives who attended the training lauded the framework offered by the Social Business Scorecard as a way to integrate social responsibility and impact concepts into conventional business.

Social performance benchmarks made easy

Did you know CERISE's free benchmark tables can generate graphs automatically?

CERISE's new benchmarking tables now make it possible to create your own benchmark tables and graphs automatically against the full database of high quality audits. You can also compare scores by region and by legal status (profit and non-profit). Download benchmark tables, or contact CERISE for a more personalized benchmarking report with links to valuable technical resources.
Sample benchmark table and graph

Upcoming trainings and funding opportunities

SPI4 auditor training in Paris | 19 and 26 January - This auditor training will be spread over 2 non-consecutive days in January. In French. Limited places available. Contact CERISE for more information.

Cofinancing for SPI4 audits, training, upgrade projects  - The Responsible Microfinance Facility (RMF) provides provides co-financing to financial institutions in Africa and the Middle East for SPI4 audits, Smart assessments and certifications, upgrading projects, and training of SPI4 auditors and Smart assessors. Funded by AFD, managed by the SPTF in collaboration with Smart Campaign. Contact for more information.

Funding for FSPs in Europe, Central Asia, Latin America and the MENA region to conduct a Social Audit Plus - applications accepted through July 2017.

Opportunity International: 
measuring social transformation with SPI4 

CERISE partner Opportunity International has recently published an update to its Social Performance Management Report 2016. SPI4 reporting from OI partners greatly contributed to the report, which highlights how OI is making an impact on clients. At OI, SPI4 is recognized as a pragmatic and useful reporting tool, used by the majority of OI partners
14 Passage Dubail 75010 Paris  +331 40 36 92 92
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