Empower Entrepreneurs in South Africa

by Opportunity International
Empower Entrepreneurs in South Africa
Empower Entrepreneurs in South Africa
Empower Entrepreneurs in South Africa
Empower Entrepreneurs in South Africa
Empower Entrepreneurs in South Africa
Empower Entrepreneurs in South Africa
Empower Entrepreneurs in South Africa
Empower Entrepreneurs in South Africa
Empower Entrepreneurs in South Africa
Empower Entrepreneurs in South Africa

Project Report | Feb 14, 2012
The Importance of Microfinance in South Africa

By Ally Lynch | Outreach Campaign Specialist

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. South Africa is home to over 50 million people but only has a life expectancy of 51.6 years. 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 a country where racial distrust had led to the deterioration of the culture of loan repayment, Opportunity was determined to succeed. Relying on academic and industry experts to help design products based on the needs of our clients, Opportunity South Africa offers micro- and small business loans and–very importantly–training to small business owners creating jobs and opportunities where there once were none. 

This project aims to bring millions of South African's closer to the day when they can safely deposit their savings, access loans to grow businesses, and purchase affordable insurance to protect their families—right in their own communities.

Take for example,  Thiembe Radebe, with Opportunity South Africa he has improved his welding business and been able to better provide for his family. See his image below. He is just one of the almost 5000 clients Opportunity serves in South Africa through our 5 branches. 

Share on Twitter Share on Facebook

Nov 9, 2011
Activity Highlights

By David Santoso | Online Community Specialist

Aug 12, 2011
Bank on South Africa

By Jacqueline Ryan | Marketing Intern

About Project Reports

Project reports on GlobalGiving are posted directly to globalgiving.org by Project Leaders as they are completed, generally every 3-4 months. To protect the integrity of these documents, GlobalGiving does not alter them; therefore you may find some language or formatting issues.

If you donate to this project or have donated to this project, you can receive an email when this project posts a report. You can also subscribe for reports without donating.

Sign up for updates

Organization Information

Opportunity International

Location: Chicago, IL - USA
Website:
Opportunity International
Ally Lynch
Project Leader:
Ally Lynch
Oak Brook , Illinois United States

Funded Project!

Combined with other sources of funding, this project raised enough money to fund the outlined activities and is no longer accepting donations.
   

Still want to help?

Find another project in South Africa or in Economic Growth that needs your help.
Find a Project

Learn more about GlobalGiving

Teenage Science Students
Vetting +
Due Diligence

Snorkeler
Our
Impact

Woman Holding a Gift Card
Give
Gift Cards

Young Girl with a Bicycle
GlobalGiving
Guarantee

Get incredible stories, promotions, and matching offers in your inbox

WARNING: Javascript is currently disabled or is not available in your browser. GlobalGiving makes extensive use of Javascript and will not function properly with Javascript disabled. Please enable Javascript and refresh this page.