Banking on Africa

Just nine months after leaving a low-paying job in politics, Patrick is operating a thriving sugarcane farm. After years of working a job that left Patrick and his wife in a constant struggle to make ends meet, they finally acted on their dream to expand their small sugarcane plot. Motivated by the need to make repairs to their family home which was literally crumbling around them, the couple took a leap of faith and met with an Opportunity Uganda loan officer.

Because of your support, Opportunity Uganda was able to launch the MEOS™ data capture system, an automated/mobile data solution for collecting, analyzing and processing critical client data. Agriculture loan officers are helping farmers like Patrick register for bank accounts and loans without leaving their fields. They are also using the technology to GPS map the farms and capture biometrics and profiling information that provide specific details about the farm plot and the family’s needs.

Today, Patrick can access capital when he needs it most, such as during planting season when he needs to purchase inputs like seeds, pesticides and mulch. He gains the flexibility to make repayments during harvest times when money is more liquid. “The cycle of income growth and watching my plot become a plantation has been fantastic,” he says. Patrick was recently voted the president of the Kaliro Sugarcane Growers Association—a group of nearly 1,000 farmers who sell their crops to the local sugarcane factory.

With the help of Opportunity, he has doubled his plantation to 45 acres and improved the quality of his crops. As he continues to grow his business, he is making repairs to his home and plans to construct a larger one. Most importantly, Patrick is confident he will improve his family’s future by ensuring his seven children can go to school.

In the developing world, people living in rural and remote areas are not only the most impoverished but also the least likely to have access to financial services, especially when the nearest financial institution may be hours—or even days—away. In response to this challenge, Opportunity International brings financial services to where our clients live and work, no matter the distance.

Opportunity International is addressing the financial needs of isolated rural communities through innovative technologies and an expanding network of banks. Our client-facing technologies provide convenient financial access, allowing impoverished people to quickly access their funds so they can focus on generating income and achieving their financial goals. These groundbreaking client services equip Opportunity International banks to reach more people outside of urban centers—and at a lower cost through increasingly cashless and paperless processes.

Here is a program and product update on our rural expansion work in Africa. 

• Low-Cost Branches: Opportunity deploys hub branches in trade centers and surround them with small, low-cost outlets as spokes that reach surrounding rural communities. New branches are in development worldwide. Whether full service, mobile or satellite kiosk, these banks bring hope through economic opportunity to families who have no other access to financial services.
• Mobile Banking:  Vans Armored banking vehicles travel bring banking services to rural clients.
• Agent Banking:  Opportunity installs point-of-sale devices in bank branches, mobile vans and local businesses to allow clients to conveniently bank in a variety of easy-to-reach locations. This extends the reach of the bank without the cost of establishing a full satellite branch.
• ATMs: These machines enable clients to bank at any time.
• Cell Phone Banking: Mobile phones are used as a channel for financial information and services, providing clients with banking access anywhere with cellular reception.

Before Opportunity International’s mobile bank came to his town in Mozambique, Lucas Chingore was among the millions of unbanked with little hope of establishing a business. It was a half-day trek to the closest bank and the only loans he could obtain were from unreliable sources that charged high interest. For rural entrepreneurs like Lucas, Opportunity International’s mobile banks make weekly stops within walking distance of their homes and businesses, saving clients valuable time and money.