Banking on Africa

Opportunity’s Banking on Africa campaign received a boost with a $40,000 grant from the S.L. Gimbel Foundation Fund through the Orange County Community Foundation of Newport Beach, Calif. The grant supports exceptional microenterprise programs that help individuals and families in Africa increase their income-earning capacity and improve their standard of living. 

Also, new technology is making it easier for Opportunity to reach clients in rural areas. Introducing: the ebike. E-bikes are the focus of a new Opportunity pilot project in six African countries. With these electric bicycles, Opportunity International loan officers are able to travel to rural client locations previously navigable only by car. According to Daryl Skoog, Opportunity International’s senior vice president of technology, “With our rural expansion, we were seeking a low-cost mode of transportation with a target of $.05 cents per mile, versus the $.50 per mile it costs us per officer today.

Our Banking on Africa campaign aims to reach five million clients by 2015 with access to savings, loans and other tailored financial services, especially in rural areas. They will be reached through a combination of new access points and technology, including mobile banks, ATMs, point-of-sale \devices, cell phones and biometrics.