Social Performance & Impact Ratings (SPIR) announcement: P.E.B.Co-BETHESDA

Inclusion [Social Ratings] released a newly assigned Social Performance & Impact Rating (SPIR) today on P.E.B.Co-BETHESDA (PEBCo), a non-banking financial institution based in Cotonou, Benin.

PEBCo’s Social Mission is to “Improve the living conditions of the poor by offering quality financial and non-financial services of good quality.”

Inclusion [Social Ratings] assigned PEBCo a SPIR rating grade of SPIR3-, following on-site due diligence of the organization’s operations and interviews with customers and staff. A SPIR3- rating indicates that an MFI’s infrastructure and processes are consistent with a good likelihood of operating in the best interests of its customers, that this is among its highest priorities and that it attempts to manage the risk of causing adverse effect to its customers and other stakeholders. An SPIR3 rating is consistent with an MFI that:

  • adheres to good practice on most of the key SPIR factors;
  • demonstrates that it has adequate information systems, internal controls and procedures relating to the information
  • maintains reasonable standards in terms of customer protection.

The “-” appended to the SPIR3 reflects the most negative range of that rating category.

Inclusion [Social Ratings]’s SPIR on PEBCo 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 recognized by the Social Performance Task Force (SPTF) as a social rating agency 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 SPIR, a comprehensive, global standard to measure social performance.

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

If you need further information on these ratings or about Inclusion [Social Ratings]’s other social performance ratings, please contact Santiago Arnaudin at