Opportunity International Bank of Malawi (OIBM) opened its first satellite branch in the southern portion of the country, to the enthusiasm of local residents.
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Opportunity reached a major milestone in the Philippines, achieving its 2005 target of financing more than 500,000 microbusinesses, operated primarily by very poor women.
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In a country where most transactions are cash-based, farmers have wasted a lot of time in bank lines and have been at the mercy of thieves. Opportunity International Bank of Malawi (OIBM) is bringing change to that financial equation.
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The Bill & Melinda Gates Foundation has funded Opportunity International with a $2.2-million grant to develop a chain of new commercial banks for the poor in Africa.
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