Commitment to Action

Jobs for Families Trapped by the Food Crisis

Commitment by

Opportunity International

In 2008, Opportunity International committed to further penetrate remote areas in five African countries to dramatically increase access to capital and financial services for thousands of informal sector enterprises, ranging from fresh produce stalls at a local market to processing cooperatives to small farmers growing maize. The goal of this initiative is to increase family income, food security, decision-making by women, and stimulate local economies.

Since 2008, through a two-year $1.26 million grant from John Deere, Opportunity International has expanded its work into Malawi and Mozambique. With the grant, Opportunity International Bank of Malawi (OIBM) and Banco Oportunidade de Mozambique (BOM) identified, tested, and implemented effective and cost-efficient delivery channels for providing financial services to the rural poor. As of March 2010, Opportunity Malawi has opened 15,547 savings and loan accounts, insured the crops of 2,992 farmers, issued 4,586 loans specifically to start new agricultural businesses, and increased the local economy by $5 million. In Mozambique, new banks are being constructed to take services closer to the rural people who otherwise would have to travel roughly 55 kilometers to the main bank branches.

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Overview
Summary

Commitment

Jobs for Families Trapped by the Food Crisis

Launched

2008

Est. Duration

3 years

Region

Africa

Countries

Malawi, Mozambique, Ghana, Rwanda, Uganda

Commitment by

Opportunity International

Partner(s)

John Deere Foundation, Stanley Family Foundation, Caterpillar Foundation