side by side annual report
July 1, 2010 â€“ June 30, 2011
Finding Opportunity together Loan Officer Robert Mayawo stands alongside Victoria Kalimakhobwe as she sells her homemade bread in the Ntchisi district of Malawi. Opportunity loans and business training with Robert have helped Victoria expand her business and get closer to her dream of building a house and saving for her four children’s education.
INTERNATIONAL Our vision is a world in which all people have the opportunity to provide for their families and build a fulfilling life.
Our belief is that small-scale entrepreneurs can be big change agents in overcoming global poverty.
Our mission is to provide opportunities for people in chronic poverty to transform their lives.
Our method is to work through our indigenous partners to provide microfinance services, training and counsel.
Our core values side by side in ghana On the front cover, Opportunity Agricultural Finance Officer
Abena Agyakowa Nketha Sarpong counsels cocoa farmer Beatrice Duku Frimpomg Boaten in the Ashanti region of Ghana. Abena helped Beatrice obtain her first savings account, loan and insurance policy with Opportunity. Serving as mentor and trainer, Abena says the changes she sees in clients like Beatrice are a constant source of inspiration. “My greatest reward is seeing our clients say goodbye to poverty. It’s also very soul-satisfying that Opportunity allows me to utilize my business skills while expressing my faith.” Beatrice is grateful for Abena and Opportunity. Since becoming a client, she can afford necessities like soap and shoes. And she has improved her farming and gained authority and respect in the
are respect, commitment to the poor, integrity, stewardship, humility and transformation.
Our motivation is the call of Jesus to serve those living in poverty.
community. “With Opportunity, I feel I have joined a family I can call on at any time,” says Beatrice. “With their help, I know that I can achieve my goals, and that gives me hope for the future. Opportunity came along with the love and grace of God and I’m so glad!” Read more about Abena, Beatrice and our work in Ghana on pages 8 and 9.
side by side is a fitting title and theme for the year. Throughout the past year, we have watched as droughts, floods and earthquakes resulted in displaced people and disrupted lives. We have seen the microfinance industry face new tests and undergo heightened scrutiny. The economic downturn continued to affect the global economy and families everywhere. Yet, side by side, you have stood strong with us to see the life changing impact that transpires when financial training and financial services such as savings, loans, and insurance are provided to those living in poverty. The Global Opportunity story began when a Canadian, and Opportunity’s first loan officer, Ross Clemenger, came alongside Opportunity’s first client, Carlos Moreno. Looking back, Ross said, “I remember when we gave that first loan to Carlos Moreno for his spice factory in Colombia. We never dreamed we would be flourishing 40 years down the road. ” Over 14 million loans later, Opportunity is still leading the way in developing cost effective solutions to reach the most marginalized people, empowering them to improve their lives and strengthening their communities. Globally over 2.5 million clients are working their way out of poverty and more than 12,000 amazing staff members are serving our clients in over 20 countries. The 7,000 loan officers are at the heart of our work offering support and counsel to each and every client. This is all possible because you have decided to stand with us alongside our clients, staff and loan officers, helping individuals break free from the limitations of poverty. For that, we are eternally grateful. For the Canadian operations we faced many challenges this current year. We built an infrastructure in anticipation of revenue increases that unfortunately did not materialize. The global economic downturn affected our revenue sources as well and although every effort was made to grow our revenue, the administration costs had been incurred and resulted in costing us 27 percent of revenue. The Board and Management Team are pursuing new sources of revenue and reviewing our staff compliment to ensure that the infrastructure is properly aligned with the fundraising efforts that are occurring. It is our commitment to you to ensure administration costs remain at an appropriate percent of your donations. As a Christian organization we have found that the combination of financial services, spiritual fellowship and applied business training is a powerful resource in the transformation of our clients. Thank you for your continued support as together we continue working toward ending poverty and transforming lives.
ROBERT J. LAWLESS Chair, Board of Directors
breaking down barriers
access • A n impoverished woman has no
Targeted to reach the most marginalized, Opportunity’s financial products help hardworking people overcome the inherent obstacles of poverty and build a more stable, secure and fulfilling life. Throughout the developing world, people are excluded from access to financial services by barriers like meager, unsteady income; illiteracy; gender bias; expensive transportation and geographic isolation. To address these challenges, Opportunity carefully crafts savings, loan, training and insurance products in partnership with those in need. With the help of efficient delivery channels, we can bring these customized products virtually anywhere—whether our clients live in a remote farming village or run a business in a sprawling urban market. Satellite branches and mobile banks give us the flexibility to provide all the services of a branch close to the people, without the expense of building a traditional bank. ATMs, point-of-sale devices and cell phone banking technologies extend our reach even further by making it possible for clients to transact business in local markets and shops—or even from their home or business.
formal identification. Opportunity’s biometric technology allows her to open and access a savings account using only her fingerprint embedded in an ID card to give her recognition she never had.
• A baker can’t earn enough to feed her family. With access to banking for the first time in her life, she acquires a $140 Opportunity loan and business training that she uses to increase her sales—and her profits.
• A child is sick and needs medicine. His parents have set aside small sums in an Opportunity savings account, so they are able to purchase the $2 medicine for his care.
• A fruit vendor feels unsafe carrying her profits home from work. With an Opportunity banking kiosk near her market stall, she can safely deposit her earnings.
far LEFT PHOTO: Annie Nyangomba smiles for the camera at Opportunity’s new branch in the Democratic Republic of Congo. Bank Teller Alma Romina takes the photo for Annie’s ID card as part of the process of opening a biometric-based account.
Insuring Access to Health Care Thousands of impoverished families now have access to affordable health insurance that covers pre-existing conditions and inpatient hospital treatment. Opportunity partners with insurance providers to offer coverage on a cashless basis for a small annual premium of just $10 in India and $40 in Tanzania.
serving the least developed countries toP Photo: When her baby needed care for malnutrition, Deepa Kahar (left) of Maharashtra, India, was relieved that her Opportunity health insurance covered the treatment and medicine. bottoM PHOTO : In Malawi, a grant from the Financing Facility for Remittances of the International Fund for Agricultural Development is helping Opportunity expand the availability of remittance services. Stella January can now conveniently transfer funds by phone without leaving her clothing business unattended.
According to the World Bank, 99 percent of the people in the Democratic Republic of Congo (DRC) do not have access to financial services. With support from the Un Capital Development Fund, Opportunity opened its flagship branch—the first of 12 branches planned for the DRC—in the capital, Kinshasa. Now, many thousands of Congolese will have savings, loans, insurance and training, along with a new sense of hope for a better future.
Banking by phone Opportunity is bringing the bank directly to clients through innovative cell phone banking. Using just their phones, even geographically remote clients are able to make secure electronic payments, purchases and transfers without leaving their community. With cell phone usage growing quickly in developing countries, this service holds great promise for a scalable and sustainable solution to bring low-cost, convenient and reliable financial services to the unbanked.
unlocking potential growth • A young girl has no chance to
Opportunity’s financial products, educational programs and business training help impoverished families, especially women, develop their capacity to the fullest. Where poverty is the way of life, people’s potential is often overshadowed by the struggle to survive. But when equipped with the right tools, even the most vulnerable are able to change their own world and create a better future for their children. We stand alongside our clients with a mission to provide those tools—the financial products, educational programs and business training they need to move beyond poverty. Seemingly simple opportunities like the chance to deposit money, receive a small loan, go to school or learn business skills can become transformative life experiences. Armed with resources and knowledge, our clients grow businesses, develop a steady income and create jobs for their neighbours. They gain confidence and find validation. And their potential to become powerful agents of social and economic change in their family and community is realized.
get an education. A local educator receives an Opportunity loan to open a neighbourhood school and the child breaks a cycle of illiteracy.
• A seamstress can’t support her children. Through an Opportunity Trust Group, she acquires a small loan to increase her inventory and begins to earn enough money for her family’s daily needs.
• A basketmaker opens a market stall, but barely breaks even. Opportunity’s ongoing business training gives her new skills to help her become profitable.
• A displaced person can’t access banking services. Even without ID or collateral, she acquires an Opportunity savings account, loan and insurance, giving her renewed hope and a sense of dignity.
far LEFT PHOTO: In Adomfe, Ghana, Malik Boateng teaches at the Great Owass Educational Complex, one of 120 schools in the IDP Rising Schools Program—a strategic alliance with Opportunity to provide educational loans and capacity building services.
Banking on Education Opportunity seeks to increase educational opportunities for children and help strengthen the communities in which we work. To do this, we offer school fee loans to help parents afford tuition, and provide customized business training with long-term loans, averaging $5,000, for school proprietors. These ambitious entrepreneurs scale up their schools by adding classrooms, improving infrastructure and hiring qualified teachers. Opportunity serves nearly 120,000 children with loans to 280 schools in Ghana, Malawi and Uganda.
Cultivating Leaders in Country toP PHOTO : Fruit vendor Sephina Macha (right) feels blessed that Opportunity loans helped her expand her business, making it possible for her children to go to secondary school. At her stall in Arusha, Tanzania, she meets with her loan officer, Mary Jacobs, who is one of our Emerging Leaders graduates. bottoM PHOTO : In San Jacinto, where so many are working to rebuild their lives following the violence and displacement that have plagued Colombia for decades, the Progress Trust Group is a source of hope. Here, Loan Officer Buenaventura Tapias Alvarez (left) leads financial literacy training for this group of entrepreneurial artisans.
As a partner in Goldman Sachs’ 10,000 Women initiative, Opportunity is opening doors for talented college graduates, loan officers and banking professionals to establish or advance a microfinance career in their communities. Through the Emerging Leaders Program, hundreds of young women in eight African countries receive locally adapted training in banking, management and finance.
EQUIPPING trust group members FOR LIFE Every week, in homes, churches and halls throughout the developing world, Opportunity Trust Group members come together to support one another and guarantee each other’s loans. These small-scale entrepreneurs participate in business, leadership and life skills training led by their loan officer, who also serves as each member’s mentor and advocate. This collaborative approach empowers members to learn new skills, pursue dreams and take on leadership roles such as president of their Trust Group or chair of a local women’s council. As their businesses grow and relationships deepen, Trust Group members develop the courage to become employers and role models, helping them break free from the limitations of poverty.
GROWing growing rural economies
sustainability Customized to meet the needs of remote communities, Opportunity’s services spur economic activity and provide enduring
from somewhere, and I know Opportunity came in answer
resources for smallholder farmers and
to our prayers. I now have faith
other rural clients.
in the future and in my cocoa
In Ghana, as in most of the developing world, poverty has a firm grip on rural areas. That’s why Opportunity International is in rural Ghana, working side by side with people in need, developing tools that will have the most impact for those living at the margins. To reach these remote Ghanaian communities, we have opened over 40 points of access to Opportunity financial services, including two mobile banks. And for this isolated population that has had little opportunity to become educated, we provide training on topics ranging from finance to farming practices. This mobilization in Ghana is part of a broader effort in Africa that aims to reach five million new clients in Africa by 2015. Here, and in over 20 other countries around the world, Opportunity is helping clients build their livelihoods and leave poverty behind.
“We were really praying for help
farm because Opportunity is supporting us.”
Agnes Fosu Hene Agricultural client, Ghana
Right photo: At her farm in Nkrumah, Ghana, cocoa farmer Agnes (right) enjoys a conversation with her loan officer, Abena. Frequent visits to client businesses and weekly Trust Group meetings result in deep connections between Opportunity loan officers and clients.
far left photo: Beatrice Duku Frimpomg Boaten (second from right) works joyfully alongside fellow members of the Nerebehi Cocoa Farmers Association in the Ashanti region of Ghana to dry out this season’s cocoa bean harvest. Support from the canadian international development agency helps us bring innovative banking technologies to marginalized clients like these growers. left photo: Beatrice has built up over $30 in savings that she can access at an Opportunity mobile bank during weekly stops near her farm.
connecting farmers with Service
Beatrice is also shown on the cover with an accompanying story on page 2.
Opportunity is creating a sustainable framework to increase food security and expand access to agricultural financing. Our approach helps farmers move from subsistence growing to cash crop production with agriculture-specific loans, savings accounts, crop insurance, effective fertilizers, drought-resistant seeds and technical assistance. We also guide them through the distribution process, providing linkages to agricultural markets.
Helping Cocoa Farmers in Ghana Every morning, Agricultural Finance Officer Abena Agyakowa Nketha Sarpong wakes up early to meet with cocoa farmers before they set out for their fields. She reaches out to hundreds of rural clients to provide financial literacy training and agricultural technical assistance as well as savings, loan and insurance products. With Abena’s guidance and Opportunity’s financial tools, her clients are making dramatic changes in their lives. Families have money in the bank, food on the table and children in school. Some are even giving back by donating money for community projects like new water wells.
Supporting Agnes with Tools to Expand Agnes Fosu Hene’s primary concern is for her children to get the education she never did. Opportunity is allowing her to do just that. With Abena’s help, she received her first loan of $264 for agricultural tools—fungicide, gloves, a sprayer and respirator—that enabled her to increase her yield and the acreage she farmed. To manage the seasonal nature of her income, she now has a savings account so money is available year round for expenses like school fees. With each harvest, Agnes grows increasingly self-sufficient and more confident in her abilities.
2010 GLOBAL Highlights (as of December 31, 2010)
For 40 years, Opportunity has worked alongside clients and staff, individual donors, foundations and corporations to fight global poverty. These collaborations have made possible ever-increasing services that now impact the day-to-day lives of millions of people. Opportunity clients…
secured savings and grew earnings through 788,300 savings accounts, with an average savings balance of $113.
was 12,414 members strong, of which 99% were nationals serving our clients in 24 countries.
developed businesses, increased incomes, provided for their families and created jobs for neighbours with 1,512,146 active loans.
included 7,011 loan officers who are at the heart of our work, offering support and counsel to every client.
protected their families with 1,366,515 life, health and crop microinsurance policies.
Trust Group members… collectively shared risk and guaranteed repayment with an average $142 first loan.
were 84% women, who improved the quality of life for their families.
allowed us to keep more funds circulating in new loans with a 96% repayment rate.
(as of December 31, 2010)
2010 totals do not include Opportunity’s microfinance institutions in Albania, Poland and Russia—sold in August 2010.
(as of December 31, 2010)
(as of December 31, 2010)
in business and life skills empowered 1,325,837 clients to experience personal growth.
Giving that Multiplies How a single contribution creates a cycle of economic growth
Every $100 = $137 Gifts are leveraged by client savings and commercial borrowings to significantly increase the size of our loan pool and provide additional funds for our work. On average, over the past five years, for every $100 contributed, the initial Multiplier Effect amounts to $137.
Dollars are recycled as loans are repaid and the money benefits an ever-growing number of clients and their families.
new income is generated
as new income is reinvested to grow businesses, employ neighbours and enroll children in school—creating an economic cycle of growth for every dollar contributed.
Opportunity canada Priority Countries Colombia
Other countries in which opportunity international serves China
Democratic Republic of Congo
“ LEGA CY KITCHENS’ partnership with Opportunity has been one of the best experiences in our company’s history and something we could have never predicted. We’ve been able to make a difference in the lives of those living in poverty. We’ve been able to meet the clients we are helping and the staff training them. Our families have gotten involved. Our staff have gotten involved. It’s truly evolved into something great that we feel privileged to be a part of. ”
— John Buller, CEO Legacy Kitchens
improved housing for families in colombia Program Manager Astrid Suarez (right) helped Tulia Pacheco (in white shirt) get a new concrete floor through a specialized floor and roof loan product in Arjona, Colombia. “I am grateful to God for creating a healthier home for my children,” Tulia says.
Opportunity International CANADA
STATEMENT OF FINANCIAL POSITION
for the year ended june 30
(unaudited summarized) 2011
assets Current Cash Accounts receivable Other Total current assets
Security and rent deposit – office lease
Total assets liabilities AND FUND BALANCES Current Accounts payable and accrued liabilities Promissory note payable
Total current assets
Fund balances Investment in capital assets
Total fund balances
Total liabilities and fund balances
STATEMENT OF OPERATIONS for the year ended june 30 REVENUE Donations and event revenues CIDA grant Interest and other Total revenue EXPENDITURES Disbursement to international programs Program oversight, monitoring and research Canadian management Total expenditures
(unaudited summarized) 2011
revenue 2011 The MasterCard Foundation Individuals Private foundations and charities Business CIDA Other
expenditures 2011 Africa (Ghana, Mozambique, Rwanda, Uganda, Malawi) Canadian management Oversight, monitoring and research (International programs) Latin America (Colombia)
These unaudited summarized Financial Statements are reproduced by management based on the Audited Financial Statements. Copies of the Audited Financial Statements for the Year Ended June 30, 2011 are available upon request.
Management Discussion and Analysis of Financial Statements Overview The year began on a high note after we experienced strong financial results in Fiscal 2010. These results were due to an increase in donations realized from previous years of fundraising efforts. We continued to build on the programs and relationships built in the previous year and new initiatives were introduced such as Young Ambassadors for Opportunity (YAO) and e-Philanthropy to assist with our goal of increasing education and public engagement for the field of microfinance. Towards the latter half of Fiscal 2011 we began to face many challenges in our fundraising endeavours and capacity building initiatives. Revenues dipped and our infrastructure development had to be curtailed. Despite the challenges faced, we were able to continue with many of the programs started in previous years. This past year, Opportunity International Canada focused its efforts in the following areas: • Colombia – We continued to raise funds to support Opportunity International Latin America’s expansion of services to displaced persons and its financial literacy and youth entrepreneurship training Programs. Also, funds were raised to assist with the application process for a banking license for a Regulated Financial Institution. • The MasterCard Foundation Partnership – This partnership was formed in 2009 and together with Opportunity International US and the Bill & Melinda Gates Foundation, we continued with the groundbreaking work of rural finance in Malawi, Ghana, Mozambique, Rwanda and Uganda. During the year, The MasterCard Foundation CEO and Program Director travelled with an Opportunity International Canada staff member to visit the rural finance project. This five country initiative will reach 1.4 million people with savings services in rural areas of Africa. • CIDA Project – Under a partnership agreement signed in 2008, we concluded a three year project that established and provided operating funds for innovative microfinance programs in Ghana and Mozambique. This project was completed in March of this year and our program department received many accolades from CIDA for the excellent work performed. A new project is currently underway that will build on the work started in the project just completed. • Opportunity International Network Services Organization(Network) involvement – Throughout the year, Opportunity International Canada and its stakeholders were involved in the Network operations through representation on Network Boards, Special Committees and Implementing Member Boards. The Network
provides services including building and managing Opportunity banks and overseeing the range of technical and human resource services provided to them.
Revenue Primarily due to a fundraising softness resulting from the continued economic recession, Opportunity International Canada’s private contributions decreased by 15% over revenue received in Fiscal 2010. Last year we were pleased to report we had received several major gifts that in total exceeded $1M – the result of fundraising efforts conducted in previous years. Unfortunately, this year we didn’t experience the same level of major gifts, but we are tremendously grateful to our faithful donors who have continued to generously support Opportunity through the difficult economic times of 2011.
Charitable Purpose Activities Disbursement to International Programs: Opportunity Canada’s expenditures to member organizations decreased by $1.4M or 12% due to the decrease in revenue. Contracts for services are negotiated between Opportunity International Canada and the Implementing Members, with funds allocated to infrastructure, staff training, operating expenses, transformation and seed funding for microfinance loan portfolios. Canadian Programs: These expenditures relate to program monitoring and oversight costs; provision of education and public engagement programs; and contributions to the Network’s support services for establishing and managing Opportunity International banks and providing a full range of technical services and research and development to the members of the Network. Expenditures for these services increased by $0.1M or 14% over the previous year, which reflects our goal of increasing education and public engagement for the field of microfinance.
Fundraising and General & Administration (G&A) Activities Canadian Management: The ratio of fundraising and G&A expenses to total expenses increased from 18% to 27%. These expenses are incurred in the governance, fundraising, and G&A activities for the Canadian operations. Opportunity International Canada endeavours to keep these costs to a minimum, while still ensuring effective management and stewardship of the resources entrusted to it. As such, during the first quarter of Fiscal 2012, the Board and Management Team haveimplemented several cost reduction strategies to decrease these expenses such that they remain within 15% to 20% of revenue.
RESPONSIBILITY FOR FINANCIAL REPORTING Board of Directors The audited financial statements for the year ended June 30, 2011 have been approved by the Opportunity International Canada Board of Directors which has overall responsibility for their content.
Management The audited financial statements have been prepared by management, who is responsible for the integrity, objectivity and reliability of the information contained therein. Our audited financial statements have been prepared in accordance with Canadian Generally Accepted Accounting Principles, and management has made best estimates where deemed appropriate.
Audit Committee The audit committee oversees management’s responsibility for the financial reporting and the internal control systems. The committee consists of members of the Board of Directors who are not involved in the daily operations of the organization. The committee meets with management and the external auditors to review the audit findings; to satisfy itself that all audit responsibilities have been properly discharged; to review and to recommend approval of the audited financial statements to the Members of Opportunity International Canada.
External Auditors For the year ended June 30, 2011, Collins Barrow KMD LLP was appointed by the Members to audit the organization’s financial statements.
governors council A community of philanthropic individuals, Opportunity’s Governors help us fight global poverty by providing financial support and serving as ambassadors for our work. ALBERTA Algar, Bob & Joyce Asman, Kimberly & Kevin Bailly, Cathryn Bryant, Sandra Chugg, Barry & Hanson, Roslyn Dufault, Don & Amay Flaaten, Rosemary & Norlee Fry, Kristin Haug, Gary & Myrna Herbert, Jim & Linda Hughes, Tod Kirby, Wanda Lee Wing, Maria McIvor, Ken McLean, Howard & Janet McLean Wiest, Beth & Reid Morgan-de Bruyn, Janet Ogle, Kevin & Cathy Ponto, John Rickard, Steve Schmitke, Laurel Thorpe, Peter Ward, Simon Wiebe, Lisa Wiens, Bob & Marlene Wilson, Brian & Shelley
BRITISH COLUMBIA Block, Henry & Laura Brinkhaus, Gisela Cook, Russ & Karen
Cooper, Tom Dahl, Betty Ledingham, Bruce Loader, Honorine Manolescu, Sandra Marks, Leona Osman, Sandy & Ken Owen, Philip & Britta Pennoyer, Greg Phillips, Dave & Kathy Schurch, Sylvia Torrison, David & Colleen Willock, Bernie & Marlene
MANITOBA Buller, Herb & Erna
ontario Abouchar, Abigail & Andrew Allen, Norm Bowey, John & Susan Burnside, Bob Cahill, Chris & Lori Dueck, Lorna Field-Marsham, Marilyn Horwood, John & Rebecca Jackson, Lorne & Doris Johnston, Hugh Jones, Robert Ketelaars, Rebecca & Andy Lawson, Gordon & Gillis-Lawson, Susan Lesslie, Jane
Lougheed Yawney, Ruby Mackey, Lloyd & Edna Martin, Keith & Jennifer McCullough, Tom & Karen Ophardt, Heiner & Claudia Patterson, Joan & Dale Pegg, Shane & Maria Petersen, Carol Petersen, Mark & Karen Ruban, Karl Sandhu, Paul & Teresa Schroeder, Harold Sinclair, Tim & Danielle Smith, Edmund Smith, Wendy Sousa, Lucy Struthers, Lise & Robert Tobias, Rick Tory, John Tyers, Paul & Peggy Vanderkooy, Joan & Jack Van Es, Tony & Pat Welfred, Bernie & Sandi Young-Marcellin, Julie
INTERNATIONAL Hemerling, Jim & Nicola
Laura Hughes, LLB Director, Playacan Projects Calgary, Alberta Robert J. Lawless Retired Chairman President and CEO McCormick & Co., Inc. Bonita Springs, FL USA
Robert van Beers President and CEO Tonbridge Power Inc. Toronto, Ontario
young ambassadors for opportunity (YAO) YAO is a network of young professionals and entrepreneurs who raise funds for Opportunity and build awareness about microfinance through volunteer-led, regionally based chapters.
board of directors Brian F. Peters President and CEO MD Physician Services Ottawa, Ontario
Thanks to a Villages of Opportunity partnership between PARTNERS IN HOPE and Fundación, Colombia, loan officers and staff (above) have been able to nearly double the number of clients served and family members impacted. Through this shoulder-to-shoulder approach to microfinance a ‘village’ of people in Canada can help bring dignity and new opportunities to another village of people in Colombia, rich in energy, ideas and innovation.
Briscoe, Rob & Suzanne Ducharme, Martin Lafontaine, Margarita
List current as of September 2011
John de Bruyn, FCA President John de Bruyn Professional Corporation Canmore, Alberta
PARTNERSHIP BRINGS DIGNITY AND OPPORTUNITY TO COLOMBIA
HONOURARY DIRECTORS David Bussau Honourary Director Co-Founder Opportunity International Australia
Daniel M. Simunac SVP and Principal Officer Allied Irish Bank (Canada) Toronto, Ontario
Ross Clemenger Honourary Director Issued first Opportunity loan in 1971 Edmonton, Alberta
Rod Wilkinson, LLB Lawyer, Miller Thomson LLP Calgary, Alberta
David Stiller Board Director Emeritus and Founder London, Ontario
YAO Canada City and campus Chapter Leaders City Chapters Toronto – Rosemary Horwood London – Matt Stiller Campus Chapters Dalhousie University – Erin Cheung McGill University – Maryam Aziz University of Western Ontario – Thomas Li Learn more about YAO and how you can get involved at opportunityinternational.ca/yao.
global strategic partners
lenders to our banks
Instituto de Crédito Oficial
National Bank of Malawi
Bill & Melinda Gates Foundation
National Bank of Rwanda
Blue Orchard Finance
DFCU Bank Limited
Canadian International Development Agency (CIDA)
Dia Vikas Fund
European Bank for Reconstruction and Development
Small Industries Development Bank of India (SIDBI)
Catholic Relief Services Conrad N. Hilton Foundation Credit Suisse
European Fund for Southeast Europe
Freeport McMoRan, Inc.
Standard Chartered Bank Symbiotics Triodos Bank Triple Jump
Habitat for Humanity IDP Foundation, Inc. ING Inter-American Development Bank (IADB) International Finance Corporation (IFC) International Fund for Agricultural Development (IFAD) International Justice Mission (IJM) John Deere Foundation The MasterCard Foundation Millennium Villages NIKE Foundation Omidyar Network Oracle Rotarian Action Group for Microcredit (RAGM) UN Capital Development Fund (UNCDF) United States Agency for International Development (USAID) UPS Western Union World Bank’s Consultative Group to Assist the Poor (CGAP)
PROTECTING FARMERS FROM LOSS top Photo: IFC, a member of the World Bank Group, is partnering with Opportunity to expand weather-indexed crop insurance into Rwanda, where Agricultural Loan Officer Jean de Dieu Kampayana (left) works with Niserata Twabagize. This program also helps increase production by enabling farmers to buy high quality crop inputs.
expanding access, reducing costs right Photo : With six children and a small grocery shop to run, Oliva Saizi (right) does not have the time or money to travel to a bank. Support from the Credit SuissE MICROFINANCE CAPACITY BUILDING INITIATIVE allows Opportunity to reach Oliva and millions like her with cutting edge technology at a fraction of the cost of traditional banking. Through this point-of-sale device at Wananga Gausi’s (left) neighbouring shop in Lilongwe, Malawi, she can conveniently withdraw money or pay for purchases.
Support from the MasterCard Foundation enables Opportunity International to scale up comprehensive microfinance products and services to the rural
â€œ Based on our experience with microfinance in Sub-Saharan Africa, we have seen the innate potential of people living in
poor in Malawi, Ghana and two other African countries. It includes the expansion of a successful approach to
poverty. Opportunity International focuses on developing
agriculture microfinance and deploying
cost effective and sustainable solutions that can unlock
a range of delivery channels including
that potential to create jobs, generate profits, provide for
satellite branches, kiosks, mobile banks
families and ultimately overcome poverty. That strong and
(pictured above), ATMs, and Point-of-
core belief in the power of the entrepreneurial poor is one
Sale (POS) devices in rural areas.
of the reasons we at The MasterCard Foundation are proud to partner with Opportunity as we work together to promote financial inclusion and prosperity.â€? â€” Reeta Roy, President and CEO The MasterCard Foundation
To learn more, visit us at opportunityinternational.ca and join the conversation at facebook.com/opportunitycan.
10 four seasons place, Suite 701 | toronto, ontario m9b 6H7 | 1.877.867.2448 Opportunity International provides access to savings, small business loans, insurance and training to over 2.5 million people working their way out of poverty in the developing world. Clients in more than 20 countries use these financial services to start or expand a business, provide for their families, create jobs for their neighbours and build a safety net for the future. Opportunity International Canada is a registered Canadian Charity and serves all people regardless of race, religion, ethnicity or gender.
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