Economic Growth Kenya Project #6663

Transform Lives in Kenya with Microloans

by Opportunity International

Project Report | Jun 7, 2012
Measurable Impact in Kenya

By Emily Engel | Marketing and Communications Intern

Joyce Njoroge, an Opportunity Kenya loan client

Measurable Impact: Side by Side in Kenya

Opportunity Kenya currently serves clients via 12 branch locations. With hard work from the dedicated staff, Opportunity Kenya increased client outreach by 20% and maintained a client repayment rate of 98% despite a very challenging economic environment. Additionally, Opportunity Kenya maintains an encouraging client retention rate of 86%. Eager to continue reaching out to marginalized communities, the Kenya staff is making plans to add three additional offices in 2012.

Opportunity serves clients with four loan products customized to meet the unique need of Kenya’s hard-working
entrepreneurs:

Msingi Loans are six-month loans tailored to meet the needs of the micro and small entrepreneurs and used as working capital as well as for purchasing business assets.
Nguzo Loans are loans for small and medium scale entrepreneurs who require larger loan amounts.
Somesha Loans finance school fee loans and are available to active clients who have serviced at least one of the Msingi or Nguzo loan cycles.

Opportunity Kenya provides loans through Trust Groups. Loans come with credit-life insurance to provide a
safety-net in case of tragedies that threaten to derail progress made. In response to growing demand, Kenya launched a pilot in 2011 to test Individual lending to meet the needs of entrepreneurs whose businesses are growing and require larger loans with more flexible repayment rates and customized training.

Plans for 2012 include:

Opening three to four field offices, starting with one outside of Kitengela.
Introducing two new products that are transformational, rather than income generating: loans for water harvesting and storage, which will improve sanitation and health; and loans for solar-powered lighting, which will decrease reliance on expensive and environmentally damaging kerosene.

Links:

http://www.opportunity.org

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Mar 7, 2012
Bank Loan Officer Spotlight: Meet Moses Wandera

By Ally Lynch | Outreach Campaign Specialist

Moses Wandera

Opportunity International’s global team has grown to over 11,501 employees, 99% of whom are nationals. Our 6,515 loan officers are at the heart of our work, offering support and counsel to every client. By providing exceptional training, Opportunity is equipping local, talented staff to become leaders in building the economies of their own communities

Moses Wandera is a native Kenyan who joined the Bungoma Branch of Opportunity International in September 2008. Moses grew up in rural Kenya, where his mother supported the family by selling granola bars and thus exposed Moses at a young age to the concept of entrepreneurship. The future loan officer graduated from Maseno University in Kenya with a Bachelor’s of Education in Home Science & Technology. Upon graduating, Moses worked in the Marketing and Sales department of one of the most successful publishers in Kenya, AAR Health and LONGHORN, for five years.

Capitalizing on his sales experience, Moses took a job with Barclay’s Kenya as a Direct Sales Representative supporting Development House and Queensway Branches in Nairobi. In 2008, Moses left the corporate world and joined the Bungoma Branch of Opportunity Kenya after learning about the organization on Facebook. Opportunity International appealed to Moses because the organization represented a global brand but relied on local support. In addition, Opportunity International targets the poor and Moses personally relates to the experiences and difficulties of being poor. Moses is one of three loan officers at the Bungoma Branch. Opportunity Kenya serves 7,500 clients and Moses’ branch manages the portfolios of 550 clients with a 70% retention rate. Moses personally handles 270 of these portfolios. Moses describes his favorite part of the job, “It feels really good to know that I help ensure that families have food on their table every single day.”

He attends the Pentecostal Assembies of God Church where he is involved as a mentor in a career advice program that guides and counsels youth. Moses is excited about providing leadership that brings positive change in economical, social and spiritual realms of society.

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Dec 14, 2011
Program Updates

By David Santoso | Online Community Specialist

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