SPTF Investors Working Group Meeting

March 11-12, Luxembourg

Responsible Exits Panel: The CFI and CGAP jointly released “The Art of the Responsible Exit in Microfinance Equity Sales ,” which will be discussed on a panel at the SPTF Investor Working Group meeting in Luxembourg on March 11-12. So far, there are only a very limited number of attempts to present case studies on responsible exits. This meeting will explore what specifically has been done to ensure a responsible exit. Did the sellers define qualitative criteria to choose (beyond the price) between the various transaction structure or potential buyers? Did sellers define specific objectives beyond price? Did they define what a responsible buyer would be? Are there effective post-closing covenants that can be implemented? What is a responsible IPO?

AfriCap Case Study: The Financial Inclusion Equity Council (FIEC) sponsored a recent AfriCap Case Study which will be presented at the SPTF Investor meeting during a session called “Governance for Social Performance.” Social performance governance requires an underlying foundation of good institutional governance. This session will discuss general best practice findings from the AfriCap MIV case of what a foundation of good governance must comprise and how learnings could be applied by other MIVs to ensure the proper foundation is in place for sound social performance. .