Opportunity International receives loan to boost mobile banking in rural areas
Credit Suisse has provided Opportunity International with a three-year grant that will enable the enterprise to grow its mobile banking service.Credit Suisse has provided Opportunity International with a three-year grant that will enable the enterprise to grow its mobile banking service.
The loan will also help to improve point-of-sale devices to reach those living in the most remote areas of Ghana, Malawi, Mozambique, Uganda and other developing nations, Microfinance Africa reports.
Furthermore, it will cover the cost of Opportunity International's Next Generation Microfinance Bankers training programme.
The company claimed the loan - the value of which is undisclosed - will support "access to savings accounts and small business loans closer to where its clients live and work and help to reduce travel times and transportation costs".
Dennis Ripley, Senior Vice-President of International Business Development for Opportunity International, added his enterprise is introducing new technology that will enable it to reach poorer members of society.
The organisation provides small loans, insurance and business training to individuals in more than 24 countries and is currently working to develop microfinance in Malawi, Mozambique, Tanzania and Ghana.