50 Weeks of Opportunity
Each week for the next 50 weeks, we will share a piece of Opportunity’s history—major or minor, sobering or inspiring, we have gotten where we are today by facing some of the world’s greatest challenges, with you by our side. Please join us in celebrating the many impactful moments that have built the foundation on which we will embark on our most audacious vision yet: ending extreme poverty.
Ask a Microfinance Expert: M-Banking
The microfinance landscape has changed because of the advent of mobile phone banking technology. With the simple use of a cellular phone, Opportunity clients can check their account balances, transfer money between accounts, send money to other people, pay bills, receive salary or government payments, and buy airtime. If the people cannot come to the bank, Opportunity brings the bank to them through their phones. Rural clients in particular will hopefully be able to thrive under the mobile phone…
Read MoreTwo Days of Discovery in Uganda
Cynthia Greenwood, Opportunity’s public relations specialist, and I recently traveled to Uganda and Kenya to capture the stories of Opportunity’s clients, programs, loan officers and services. We started our trip in Kampala, Uganda, where we spent two days discovering the intersections amongst our clients: a school proprietor, a Trust group, marketplace vendors, and children that all benefit from Opportunity’s small business loans, savings, insurance, training and school fee loans. We were…
Read MoreMelinda Gates Highlights Opportunity International
Earlier this week, Opportunity International was honored to host Melinda Gates as she visited some of our clients and experienced our banking services in Malawi. With the support of the Bill & Melinda Gates Foundation, Opportunity is expanding access to savings accounts, loans, training and insurance to people struggling to work their way out of poverty in the developing world. In her blog post yesterday from the World Economic Forum in Davos, Melinda discusses the “important link between improving…
Read MoreGet Involved in Giving GROWTH a Chance
About the GROWTH Act Global Resources and Opportunities for Women to Thrive (GROWTH) Act (S.1425) is an innovative bill that is currently being discussed in Congress. It will give greater economic opportunities to women and families living in poverty. This bill was introduced in the Senate by Sen. Durbin, Richard (IL) on July 9, 2009. It was read twice and referred to the Committee on Foreign Relations. The GROWTH Act was put together after two years of study and the technical advice of Opportunity’s…
Read MoreOpportunity International Honors Dr. Martin Luther King, Jr.
I must be true to my conviction that I share with all men the calling to be a son of the living God. Beyond the calling of race or nation or creed is this vocation of sonship and brotherhood, […] I believe that the Father is deeply concerned especially for his suffering and helpless and outcast children. This I believe to be the privilege and the burden of all of us who deem ourselves bound by allegiances and loyalties which are broader and deeper than nationalism and which go beyond our nation’s…
Read MoreThe Tragedy in Haiti: How You Can Help
At Opportunity International we are heartbroken over the horrible suffering and staggering devastation in Haiti. Please join with us in praying for the people of Haiti and supporting the ongoing relief effort. In this immediate aftermath, we would encourage you to consider supporting one of our partners with operations in Haiti or one of the many other great organizations who are providing services in the country. A terrible tragedy like this demonstrates the vulnerability of those living in poverty,…
Read MoreCongress provides more money for microfinance
Let’s celebrate the increase in appropriations for microfinance and microenterprise development for FY2010. It grew from $245 million to $265 million—terrific in a tight budget year. (This is pending a final vote but reflects the conference report from the House and Senate and is likely to pass.) Also, we are thrilled that Congress has put language in the appropriations report that directs USAID to:• increase funding for microfinance in Africa• focus 25% of funding on funding to build the…
Read MoreIntroducing #Mifimon 2010!
Interested in learning about microfinance? Follow our biweekly discussion group #mifimon (because Microfinance Mondays was too long for Twitter’s 140-character limit). Our aim is to host an exchange of ideas about issues relevant to the microfinance industry. You’re welcome to lend your voice, whether you’re a practitioner in the field or a newbie just learning the basics. Just end your messages with the hashtag #mifimon! Happy new year to you all! I hope the holidays and the beginning of this…
Read MoreThe Challenge of Credit Scoring
A lack of a formal credit score makes risk mitigation particularly difficult and thus has the potential to reduce the effectiveness of microfinance. A lack of some type of credit information can cause microfinance institutions to make decisions that are not in the best interest of the client. In the worst case scenario, either someone who deserves a loan is denied it or someone who cannot pay back a loan is granted it. To mitigate this risk, Opportunity hopes to track the qualitative characteristics…
Read MoreDevelopment as a strategic, economic and moral imperative
“Women and girls are one of the world’s greatest untapped resources and a terrific return on investment…I have seen for myself the transformative power of microlending in women’s lives and their families and communities.” The above quote is from a speech given earlier this week at the Center for Global Development by Secretary of State Clinton. Her wide-ranging address not only highlighted microfinance, it called for greater investment in many of the areas Opportunity International is working,…
Read More