The 60 Decibels Microfinance Index is the largest global dataset of its kind, providing high-quality, comparable impact data for the microfinance industry, driven entirely by the voice of microfinance clients. In 2024, across 45 countries and 126 financial service providers, the Index captures the perspectives of more than 36,000 clients who are rewriting their economic narratives. The 60 Decibels Microfinance Index represents more than a mere statistical compilation — it is a powerful lens through which we can understand the transformative potential of financial services in underserved communities.
We, at ECLOF, are proud participants in the 2024 Microfinance Index, and our operations in Myanmar, Uganda, and Kenya emerge as examples of how localized, context-sensitive financial services can drive social and economic change. By addressing unique regional challenges and leveraging deep community understanding, these three members demonstrate ECLOF’s ability to translate global microfinance principles into tangible, life-changing opportunities for thousands of micro-entrepreneurs and smallholder farmers.
Key Highlights:
- Myanmar: Despite the political and economic challenges, ECLOF continues to be a steadfast source of support for vulnerable communities in Myanmar. 68% of ECLOF Myanmar’s clients have accessed credit for the first time. 78% would actively recommend ECLOF to their peers. ECLOF Myanmar secured the top global ranking for client protection with agent fairness and no unexpected fees among 126 MFIs.
- Uganda: One in 4 clients has hired additional paid employees; this places ECLOF among the top 20% of MFIs globally. 9 in 10 clients never reduce food consumption to pay the loan instalments. This underscores ECLOF’s commitment to sustainable financial practices that prioritize human dignity and ensure clients achieve economic growth without compromising their basic needs.
- Kenya: ECLOF plays a vital role in the lives of its clients, with 48% reporting significant business income improvements—nearly double the global average of 23%. Furthermore, 84% of clients indicated they have no viable alternative financial services, highlighting ECLOF Kenya as more than just a lender but a crucial lifeline for communities traditionally excluded from financial systems.
ECLOF’s dedication to providing reliable and accessible financial services is transforming communities in Myanmar, Uganda, and Kenya. Recognized in the 60 Decibel survey, ECLOF’s impact is evident through improved client protection, business growth, and financial inclusion. By learning from this study and continuously improving its services, ECLOF ensures responsiveness to clients’ evolving needs. ECLOF’s impactful work is driving empowerment and progress, creating lasting change for individuals and communities.
