Atul Tandon: The Exponential Impact of Ending Poverty

For 37 years, the United Nations has marked October 17th as the International Day for the Eradication of Poverty —a day of profound significance for my team at Opportunity International. As a leading NGO combating poverty through financial inclusion and workforce development, we firmly believe in the end of poverty within our lifetimes. Many believe this goal too ambitious, especially amid global instability and fear, but I remain confident.

Over the past 30 years, we have made remarkable strides in the fight against poverty. Since 1990, more than one billion people have been lifted out of poverty. The extreme poverty rate has plummeted from over 30% to about 8.4% today. This progress has far-reaching impacts, both on a global scale and in the lives of individuals.

It can be hard to grasp the real-world implications of such dramatic numbers. But if you think of this transformation in a single life, the magnitude of our progress becomes clear.

I think of Barbara Nakamp, a coffee farmer from the Mityana District in Uganda, and one of the first smallholder farmers to receive a loan from Opportunity Bank Uganda, Ltd. After her husband's passing, Barbara found herself struggling to feed her family and keep a roof over their heads. Throughout her life, she had faced violence, barriers to education, hunger, and many other challenges rooted in generational poverty.

But Barbara was not lacking in drive or ability. She had already started several small businesses to provide for her family, from textiles to bicycle repair. Determined to find stability and success, she eventually turned to smallholder farming, growing maize, beans, and potatoes to sell in the local market. Barbara’s knack for cultivating and selling her crops enabled her to send her 11 children to school.

Barbara's first loan from Opportunity Bank was $80, which she used to purchase equipment and fertilizer. Each year, she turned a profit and increased her loan, expanding her farm and success. Moreover, her experience and wisdom has proven to be quite valuable as well, and she began working for Opportunity as a farmer-support agent, training her fellow farmers, accessing financial services, and improving their livelihoods.

Today, Barbara grows coffee on her farm, producing between 1,500 and 2,000 kilos annually. While much of her profit is reinvested into the farm, she has been graced with the chance to build homes for her children, sent them to university, and employ others. She dreams of the day when she and her fellow farmers in the Miseebe Coffee Cooperative can start their own factory to process and distribute their crops at a premium.

Poverty is an economic crisis, and economic challenges require economic solutions. At Opportunity International, we helped Barbara and her peers access financing that allowed them to take the steps needed to escape poverty and achieve success.

But Barbara is more than a farmer or entrepreneur. She is a leader, a teacher, and a mother—not just to her eleven children, but to her entire community. In her community, her neighbors and peers affectionally call her mumbejja (translated into “princess”). Her success isn't simply about economic gain; it's rooted in her passion for helping others. Barbara's journey proves that success comes from both tapping into the local economy and a deep commitment to caring for those around her. She is an agent of change, dedicated to strengthening the social fabric of her community.

This year, Barbara was elected to local office, representing thousands of people as a councilor for the Mityana district. Her experiences as a farmer, business owner, and support agent now help her craft policies that benefit her neighbors and peers. Her challenges and successes have positioned her to drive change at great scale.

That is true transformation. Just as our investments in Barbara have multiplied in impact, so has her success transformed her entire community. Barbara demonstrates that lifting even one person out of poverty creates a ripple effect far greater than the initial investment.

Reflecting on the past 30 years, I am struck by the profound transformation of lifting one billion people out of poverty. Consider the momentum we've built and the compounding impacts of this progress. Think of the community leaders discovering their purpose, the business owners expanding and hiring workers, the single mothers feeding their children and sending them to school.

Think of the dignity born from the hard work of these individuals. Think of the potential that lies ahead.

According to the UN, about two-thirds of people facing extreme poverty worldwide find sustenance in the agricultural sector. These smallholder farmers support up to 30% of the global food supply.

From a business perspective, few strategies are better for reducing poverty and hunger than empowering those who grow our food. The collective impact of our efforts has proven far greater than the sum of individual actions. Together, with new leaders like Barbara by our side, the eradication of poverty is closer than we might think. We just have to keep going.