Opportunity International Creates Community Banking in Rural Africa
SOURCE: Opportunity International “Banking on Africa” Campaign Grows to Close the Gap for Five Million Rural Africans to Access Savings-Based Microfinance Services in the Communities Where They Live and Work OAK BROOK, IL–(Marketwire – September 30, 2010) – Today, less than 10 percent of households in most sub-Saharan African countries, including Malawi, Mozambique and Uganda, have a bank or savings account. To address this need, Opportunity International is expanding its savings-based microfinance services aimed at providing smallholder farmers and entrepreneurs in rural Africa with much-needed access to financial services, as well as transformational training to improve the financial literacy of Africa’s rural populations. Opportunity International’s “Banking on Africa” campaign, an initiative aiming to reach five million new clients in Africa by 2015, is successfully enabling vibrant commerce and community banking throughout rural Africa. As one example, the Opportunity International Bank of Malawi began operations in May 2003, offering savings, loans and insurance products.
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