Empower Entrepreneurs in South Africa

With 43% of the population living on less than $2 per day and 10% of the South Africans holding 80% of the country’s wealth, those at the bottom of the economic pyramid lack meaningful access to formal banking services. Currently, Opportunity South Africa operates 10 branches that provide a variety of services to SMEs, equipping entrepreneurs with critical microfinance tools that build successful businesses, generate employment and create thriving communities.

In 2013, Opportunity South Africa has a fundraising need of $526,520. Funding will enable Opportunity Finance South Africa (OFSA) to launch School Proprietor loans in 2013 and increase rural expansion and outreach efforts.

Education Finance –OFSA designed and launched the School Fee loan product in response to the identified need within the rural communities surrounding Pietermaritzburg and Durban. The newly piloted School Fee loan portfolio is very healthy with a PAR>30 of 1-2%. In 2013, OFSA is set to launch School Improvement loans.

SME Loans – Opportunity South Africa supports talented enterprises with loans that generate employment opportunities within their respective communities.

Rural Expansion – Opportunity South Africa is focused on expanding its distribution network into rural townships and has opened five kiosks. These kiosks are located in building supply and hardware stores as these tend to be focal points where clients purchase equipment and supplies. The first of these kiosks, based in Hammarsdale Township, paid out 12 loans, valued at $15,000, in its first month of operation. Additionally, OFSA launched its first mobile bank in 2012.