Business Due Diligence of FirstRand Bank's Microfinance Portfolio

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Business Due Diligence of FirstRand Bank's Microfinance Portfolio

Centrum Microcredit wanted to acquire Altura microfinance. M2i was assigned to undertake Business Due diligence for investing in Microfinance Institutions on behalf of the Centrum prior to the investment to assess the quality of assets and its management systems. M2i conducted the BDD exrecise which involved HO function verifications and cliente level verifications. A total 51 branches were checked, 1,786 clients were verified, 3344 loan cards, 2306 loan documents and 190 centre meetings were verified as part of the exercise. M2i submitted report providing its findings of the field level verification and opinion on systems of the MFI.