Opportunity International gains funding to expand technology, training

Maraketwire

OAK BROOK — A vast number of families who live in the developing world will soon gain expanded access to the financial tools available through Opportunity International thanks to a three-year grant from Credit Suisse’s Microfinance Capacity Building Initiative.

The Credit Suisse grant, which is part of an ongoing partnership, will enable Opportunity to continue to expand its use of mobile banks, point-of-sale devices and cellphone banking in the most remote areas of Ghana, Malawi, Mozambique, Uganda, Colombia and other developing countries, bringing access to savings accounts and small business loans closer to where its clients live and work, and helping to reduce travel times and transportation costs.

Opportunity International will also use the three-year grant from Credit Suisse to fund its Next Generation Microfinance Bankers training program, which is designed to build a growing group of senior executives capable of establishing and operating successful banks in developing countries. Over the next five years, Opportunity will need to hire approximately 7,000 new staff to add to its current base of 12,000 staff, to meet growing demand for the portfolio of financial tools it provides to more than three million people working their way out of poverty around the globe.

Through the Next Generation Microfinance Bankers Program, Opportunity will also develop comprehensive training programs for loan officers and customer service staff members.

“We are delighted that Credit Suisse continues to support Opportunity in expanding access to financial tools for the world’s poorest citizens through the ongoing deployment of cutting-edge technologies, and now through our Next Generation Microfinance Bankers Program,” said Dennis Ripley, senior vice president of International Business Development for Opportunity International. “Ours is a relationship-driven business where recruiting, hiring and retaining technologically-savvy staff who are committed to serving the very poor is critical to our success and creating jobs in the communities we serve around the globe.”

As part of its partnership with Credit Suisse, Opportunity is also participating in the Credit Suisse Global Citizens Program, which provides opportunities for Credit Suisse employees to immerse themselves in local communities to support the work of its partner organizations in education and microfinance. Opportunity plans to place up to three Credit Suisse Global Citizens in its operations during the course of the grant.