You brought success to farmers and rural families in Malawi
By Ian Haisley - Director of Online Strategy
With your support, we are funding the loans, services and expansion that allow smallholder farmers to increase their crops and grow more food. As harvest quality and quantities rise, food security improves, school fees are paid, homes are improved and jobs are created, families and the local community reap the benefits. Through this project, you are allowing Opportunity to extend a full range of financial services to rural Malawi, including access to savings accounts and the provision of comprehensive, crop-specific agricultural loans to farmers.
Opportunity Malawi’s ability to expand agricultural lending has been reduced by the continuing macroeconomic issues in the country including high inflation. Fuel continues to be in short supply, limiting the ability to manage the rural program as well as affecting the mobile vans.
In the second quarter, Opportunity Malawi disbursed 18,788 agriculture loans, up from 16,183 in the first quarter. At the end of June, the bank had 16,522 loans to farmers, up from 13,149 in the prior quarter with an outstanding agriculture portfolio nearly tripling to value $3.7 million.
The bank is now lending to smallholder farmers in soya, paprika, coffee, groundnuts, tea, Irish potatoes, tobacco, maize and sugarcane.
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