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spotlight on Opportunity Malawi 426.11.0411 ©2011 Opportunity International In 2003, Opportunity Malawi launched a bank to serve people living in poverty. To reach remote communities, Opportunity uses mobile bank vehicles, ATMs and point-of-sale systems in local shops. This allows people to access services right in their own villages, saving the time and cost of travel. Biometric fingerprint identification on each client’s ID card helps keep their savings secure. With deposits of nearly $32 million, clients are funding loans in their own communities and stimulating their economy. In 2010, Opportunity Malawi tremendously expanded its footprint with seven new satellite branches and four new mobile banks, for a total of 10 mobile banks. Plans for 2011 include: • adding new delivery channels, including cell phone banking and more point-of-sale locations in post offices and farm shops • mapping and profiling new smallholder farmer groups to help them diversify from the dominant tobacco cash crop to food crops like maize, tea, soya and coffee, and livestock such as pigs and fish • launching new marketing and client-listening initiatives to fine-tune products To learn more, visit opportunityinternational.ca Canadian Registered Charity # 87751 6385 RR0001 Leadership CEO Aleksandr-Alain Kalanda Board Chair Francis Pelekamoyo Number of staff: 431 Statistics About Malawi population: 15 million gross national income per capita: $810 population living on less than $2/day: 90% rural population: 81% primary school completion rate: 54% Services Offered • Business loans: Trust Group, Solidarity Group, individual and SME • Agricultural finance • Education finance: school proprietor loans and school savings • Personal savings accounts • Insurance: life and weather-index crop • Foreign exchange • Training: business management, leadership skills, and personal development Highlights 2009 2010 customers with loans: 45,275 51,152 value of loan portfolio: $28,093,027 $29,902,554 average first trust group loan size: $183 $166 % of loans made to women: 63% 63% customers with savings: 216,872 308,726 value of deposits: $31,886,401 $31,947,045 average savings balance: $147 $103 microinsurance policyholders: 35,990 31,809 Opportunity Malawi Trust Group client Stella January buys clothes from Tanzania and resells them in the market to help support her two children, ages nine and three. Stella is in her third loan cycle, has opened a savings account and has received financial literacy training from Opportunity. Here, she accesses her bank account through her cell phone.
