Empower Entrepreneurs in South Africa

 
$145
$855
Raised
Remaining
Sep 7, 2012

The Need for Microfinance in South Africa

South Africa Opportunity client Thiembe Radebe
South Africa Opportunity client Thiembe Radebe

There is a great need to build trust in financial institutions among South Africans, who are often denied access to credit from regular commercial banks. Less than 35 percent of the people hold formal employment, and poverty is rampant at the bottom of the economic pyramid.

Opportunity South Africa started in 2006 in response to the country’s socioeconomic inequality and the high potential of its small and medium enterprises (SMEs). By equipping entrepreneurs with the tools they need to bring employment to their communities, Opportunity aims to be an important instrument of poverty alleviation in South Africa.

Headquartered in Pietermaritzburg, Opportunity serves areas where unemployment hovers at 40 percent and people live in extreme poverty. In just three years of operation, Opportunity South Africa has achieved strong growth and now operates five branches.

Statistics About South Africa

Population: 49 million
Population living below poverty line: 50%
Life expectancy: 49 years
HIV prevalence: 18%
Population in formal labor force: 35%

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Organization

Project Leader

Ally Lynch

Oak Brook, Illinois United States

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