Brenda Mwenitete is the hardworking owner of a knitting shop in the Chitipa Market. She recalls the challenges she faced before approaching Opportunity, struggling to earn a profit without a knitting machine.
You gave Brenda the opportunity and today, with the right equipment, she has increased production and her income significantly. With operating capital, she has effectively reduced the number of trips into Lilongwe, the capital city, to purchase raw materials – traveling once per month instead of weekly has allowed her to lower costs, increasing her net profit. With a broader inventory and improved ability to fill orders, she has broken the barriers that barred her from earning a profit. Brenda recently purchased two knitting machines and hired an employee, stretching her impact beyond her own transformation to extend to the larger community influencing the economy through job creation. She enjoys the relationship she has with her Trust Group and praises the way in which bank staff visits customers frequently to mentor and support. “My loan officer has been my lifeline, instilling a sense of belonging in the community.” Brenda has transformed into a respected businesswoman and she has employed her new sense of confidence to take on a leadership role as group secretary.
Brenda formed the dream; you gave her the opportunity to make it a reality. On behalf of Betha and Brenda and thousands of other families, thank you very much for your partnership.
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With loans to 934,000 entrepreneurs, nearly 100,000 families saving and 1.5 million insurance policies across the Philippines, Opportunity International continues to increase access to services for those at the bottom of the economic pyramid. An estimated 43 million of the Philippines’ total population of 103 million live on less than $2 a day.
Your gifts empower parents to improve the lives of their children through the achievement of real economic gains. Parents with increased incomes send kids to school and put more nutritious meals on the table. Your partnership made possible the following:
Thank you for your support that helps parents build a better future for their children!
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Serving Rural Clients in South Africa
Unlike many microfinance organizations, we believe that financial services should not be accessible only to those in the big cities. Many living in rural communities of South Africa live hours from the nearest bank, ATM, or store with credit access. That's why we're using innovative technology to give even the most rural clients acess to loans, savings, and credit.
Using Available Technology
For decades, commercial banks have avoided serving people living in poverty, especially in rural areas, because of the high cost of processing small transactions. In contrast, Opportunity has invested more than $20 million over the last 10 years in the use of electronic and mobile technologies to reduce transaction costs and bring services to the most marginalized and remote clients. By establishing low-cost satellite branches and deploying ATMs, point-of-sale (POS) devices and mobile banks in outlying areas, banking services are provided to people in their own communities.
Capturing clients’ biometric information provides convenient and secure access to finances, even for those who are illiterate or lack formal identification. When clients open an account, their fingerprint is scanned and stored in the bank’s system, enabling electronic transactions at retail and ATM locations. New technologies use cell phones, and satellite and broadband Internet to further increase Opportunity’s reach in South African communities, as well as other rural communities across Africa.
Thank you for your generosity that allows us to keep on reaching the most marginalized people!
