Social Performance & Impact Rating (SPIR) Announcement

Inclusion [Social Ratings] today released a newly assigned Social Performance & Impact Rating (SPIR) on Thrive Micro-Finance (Private) Ltd (THRIVE), a microfinance institutions (MFI) located in Harare, Zimbabwe.

THRIVE’s Social Mission is “To provide training and credit to women excluded from the mainstream financial sector in a manner that is both socially responsible and financially sustainable.” It has a pro-poor focus and operates as a for-profit social enterprise, with all profits re-invested in expanding operations rather than being paid out as dividends to shareholders.

Inclusion [Social Ratings] assigned THRIVE an SPIR of SPIR2- following on-site due diligence of the organization’s operations and interviews with customers and staff. A SPIR2- rating indicates that an MFI’s infrastructure and processes are consistent with a high likelihood of operating in the best interests of its customers, that this is among its highest priorities and that the risk of causing adverse effect to its customers and other stakeholders is low. The “-” qualifier indicates that the MFI is at the lower level of that rating category and its policies and strategies if it show improvement, could lead it into the next rating category within the short to medium term. An SPIR2- rating is consistent with an MFI that:

  • coordinates strategic operations to accomplish its social mission
  • adheres to best practice on almost all of the key SPIR factors
  • demonstrates that it has reliable information systems, internal controls and procedures relating to the information provided for the SPIR
  • maintains good standards in terms of customer over-indebtedness and debt collection practices.

Inclusion [Social Ratings]’s SPIR on THRIVE is based on Inclusion [Social Ratings]’s Social Performance Rating Methodology. An SPIR measures social performance on a fifteen-point scale, in which SPIR1+ is the highest grade and SPIR5-, the lowest.

About Inclusion [Social Ratings]’s Social Performance & Impact Ratings 

Inclusion [Social Ratings]’s SPIR is an independent analysis of the operations of a microfinance institution that helps stakeholders better understand how effective it is at translating its social mission into practice. Inclusion [Social Ratings] is a full member of the Social Performance Task Force (SPTF) and is committed to supporting the mission of the SPTF by engaging with microfinance stakeholders to develop, disseminate and promote standards and good practices for social performance management and reporting, and by offering its SPR, a comprehensive, global standard to measure social performance.

A full Rating Report is also available for download from our website at

For further information on these ratings or about Inclusion [Social Ratings]’s other social performance ratings, please contact Ana de Miguel at