Opportunity International is a 501(c)(3) nonprofit organization chartered in the United States. Through a network of 47 program and support partners, Opportunity International provides small business loans, savings, insurance and training to more than 14 million people in the developing world. It has clients in more than 20 countries and works with fundraising partners in the United States, Australia, Canada, Germany, Switzerland, Singapore, Hong Kong and the United Kingdom. Opportunity International has 501(c)(3) status as a tax-exempt charitable organization in the United States under the US Internal Revenue Code (Employer Identification Number: 54-0907624).
History In 1971, Al Whittaker left his job as president of Bristol Myers International Corporation in America to found the Institute for International Development Incorporated (IIDI), a micro-enterprise organization. Barry Harper, IIDI's first executive director, and development officer Dan Swanson helped establish of IDII offices in Colombia, Peru, Honduras, Kenya, the Dominican Republic and Indonesia.
Australian philanthropist David Bussau founded Maranatha Trust and began administering loans in Indonesia in 1977. In 1979, he joined IDII as the director of the Indonesia office and began expanding IDII's work in Asia.
In 1988, the two merged their efforts under the name Opportunity International.
In 2002, Opportunity International developed and founded MicroEnsure, a microinsurance entity providing weather-indexed crop insurance, affordable health insurance, and protection against other risks. MicroEnsure was the world's first microinsurance intermediary and received a generous grant from the Bill & Melinda Gates Foundation in 2008. MicroEnsure spun off from Opportunity as its own company, and in 2013 it became a for-profit social enterprise.
On January 24, 2006, David Bussau gave the 10th Australia Day Address with the subject "A Giving Nation." And in January 2008, David Bussau was named Senior Australian of the Year 2008 for his work in the fight against global poverty.
Al Whittaker died in 2006.
In 2017, Opportunity International's operation in Malawi was sold to southern African banking group FMB Capital.
Annual report Annual Report 2015 By the Numbers Active Loan Clients 4 Million Total Loaned $1.4 Billion Savings Clients 4.9 Million Insurance Clients 9.9 Million Loans to Women 95% Loan Repayment Rate 99% Clients Who Bank From Cell Phones 380,000 Children Educated 803,000
According to the annual report 2021, the total revenue in 2021 stood at $54.2 million and the total expenses amounted to $46.9 million, with 88% of its budget going towards programs and the remaining 12% going towards fundraising, general and administrative expenses.
Operational model Trust groups Each week, as Trust Groups gather to repay their loans, Opportunity provides educational sessions to develop business skills and enhance personal growth.
The efficacy of group lending has been debated since it was first introduced by the Grameen Bank in the 1970s. As MFIs have become more advanced and increased their scale, it has become less costly for them to monitor borrowers, allowing them to be less reliant on group lending and peer enforcement. According to JPAL, there is little evidence on the relative impacts of individual lending versus group lending on household consumption, income and enterprise creation.
Local staffing Today, Opportunity recruits and develops staff from the countries it serves. Its global team has grown to 23,000 employees, 99% of whom are nationals, with over 10,000 loan officers working directly with microfinance clients.
Technology Over the last 10 years, Opportunity has invested more than $20 million in electronic and mobile technology to reduce transaction costs and bring services to the most marginalized and remote people. Satellite branches and mobile banks reach clients in previously unserved areas, like rural farming villages and sprawling urban markets. Biometric technology provides convenient and secure access to finances, even for those who are illiterate or lack formal identification. Convenient ATMs and point-of-sale (POS) devices offer the only safe method for transactions in many markets and allow clients to make transactions near home, thereby reducing transportation costs, improving their productivity and increasing the safety of their savings deposits. Opportunity's banking programs enable clients to repay loans or transfer funds in Opportunity savings accounts from their mobile device. Cell phone technology gives clients in remote locations access to their accounts.
Investing in women Opportunity focuses its services, including loans, savings accounts, insurance, training and financial access, on women - providing 95% of their loans to women.
Initiatives Education finance
Opportunity EduFinance is a global program partner of Opportunity International, launched in 2007 and based in London UK.
Opportunity invests in parents and educators to help children go to school and receive a high quality education. Opportunity's EduFinance tools include: School Improvement Loans - loans to school proprietors to help them build classrooms, install running water or bathrooms, or make other structural, resource or staff improvements to their facilities. School Fee Loans - loans to parents to help them pay school fees for their children on time that they can then pay back over the course of the semester. EduSave Insurance - a program that covers children's school fees in the event of a death or illness of a child's guardian.
Alongside financial tools, Opportunity supports educators with other tools and programs including: Education clusters - groups of leaders from up to a dozen schools that facilitate collaboration, group problem-solving and sharing of best practices. School Assessments - helping school proprietors understand their strengths and weaknesses, as well as determining a clearly defined roadmap for improvements. OPENeducator - a web-based resource center offering educators around the world training tools and a global community of support.
Opportunity has reached 1.7 million children and distributed $69M in education loans since 2009.
In October 2016, Opportunity announced that it received a $1 million grant to expand EduFinance from the Bill and Melinda Gates Foundation.
In November 2016, Opportunity International won the Civil Society Achievement Honor at the Children and Youth Finance International Global Inclusion Awards 2016.
Agriculture finance Opportunity International has introduced the following programs, tools and initiatives: Agricultural loans - using high-tech, low-cost banking solutions to deliver financial resources to rural farming communities. Access to better resources - linking farmers to suppliers with high-quality seeds and fertilizers, and negotiating competitive pricing for farmers. Agricultural Training - partnering with agricultural experts to deliver crop-specific training and assistance in good farming practices. Savings accounts - empowering farmers to open savings accounts during harvest season to save profits for financial protection in between harvests, so they have money to meet basic needs. Access to better crop markets - linking farmers to the best crop buyers where they can take advantage of better market prices.
Partnership model Opportunity works through local program partners to better understand and meet the needs of families they serve. Local partners must share Opportunity's values and objectives. Their stated requirements for partners are: A primary objective of helping people out of poverty Work in the poorest, largely unserved regions wherever possible Operate within a market that exhibits a relevant gap, with conditions that are favorable for microfinance Sound strategies that show their continued intent to help people out of poverty A demonstrated commitment to meeting people's needs and having an impact
They also look for partners with: Excellent, inspiring leadership Strong risk management and governance A solid operating platform and capable staff Good financial performance and an ability to manage significant growth Comprehensive business plans and projections underpinning a sound future A history of financial self-sufficiency of, for start-ups, a forecast to be so within two years
Where Opportunity works About the Opportunity Network The Opportunity Network is made up of 47 organizations, 39 of which are microfinance institutions (program partners) operating in Africa, Eastern Europe, Central and East Asia and Latin America. These program partners provide loans and other support directly to families in need. Funds to support the work of program partners are raised through support partners operating in various countries including Australia, Canada, Germany, the United Kingdom and the USA. These funds are provided to program partners as either equity, loans or grants. While program and support partners have close relationships, each operates as an independent legal entity. No program or support partner acts as agent for any other program or support partner, nor has authority to bind any other program or support partner. Opportunity International was the first organization to approach microfinance using a microfinance network.
List of partner countries Africa Opportunity serves clients in the following countries in Africa: Tanzania Democratic Republic of Congo Ghana Kenya Malawi Mozambique Niger Nigeria Rwanda Uganda
Asia Opportunity serves clients in the following countries in Asia: Bangladesh China India Indonesia Pakistan Philippines
Eastern Europe Opportunity serves clients in the following countries in Eastern Europe: North Macedonia Serbia Romania
Latin America Opportunity serves clients in the following countries in Latin America: Colombia Dominican Republic Honduras Nicaragua Peru
List of Support Countries Opportunity partners raise support in the following countries:
United States In 2016, Atul Tandon joined Opportunity International as the US CEO. Global CEO Vicki Escarra joined Opportunity in 2012 and served as US CEO before becoming Global CEO.Vicki Escarra Named CEO of Opportunity International PR News Wire (July 16, 2012)
Australia Opportunity International Australia Limited is a part of the global Opportunity International Network. Opportunity International Australia Limited was registered as a charity under the Australian Charities and Not-for-profits Commission in January 1989.
Opportunity International Australia also provides support services to its loan recipients such as business training, financial literacy training and community development initiatives. It currently works in India, Indonesia and the Philippines by funding and supporting local microfinance institutions. These services include loans, savings, fund transfers and insurance. Opportunity International Australia has a repayment rate of 97%. Opportunity International is a signatory to ACFID.
In 2008, Opportunity International Australia's founder David Bussau was recognized for his long-standing contribution to poverty alleviation by being named Senior Australian of the Year 2008.
Macro For Micro was a campaign in 2010 to raise funds and awareness for microfinance development. It consisted of a team of Canadian cyclists (Geoff Dittrich, Stu McCrory, Vivian Leung and Isabella Borowiec) that travelled over 5,600 km from Sydney, Australia, to Perth, Australia, along the southern coast. The campaign aimed to raise A$50,000 for Opportunity Australia to fight poverty. The team stopped at universities, high schools and sponsored venues along the way to share the story of microfinance. They departed Sydney on March 8 (International Women's Day), 2010 and arrived in Perth on 29 May 2010.
Canada