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“GO NORTH” Challenge OPPORTUNITY BANK in northern Malawi

“GO NORTH” Challenge OPPORTUNITY BANK in northern Malawi. Go North the first challenge. Establish a branch office in Mzuzu, northern Malawi Provision of micro-credit to vulnerable groups Opening of savings accounts Issuing micro-insurance policies

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“GO NORTH” Challenge OPPORTUNITY BANK in northern Malawi

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  1. “GO NORTH” Challenge OPPORTUNITY BANK in northern Malawi

  2. Go Norththe first challenge Establish a branch office in Mzuzu, northern Malawi Provision of micro-credit to vulnerable groups Opening of savings accounts Issuing micro-insurance policies Provision of capacity building training and development for clients and staff

  3. 3 key financial services Savings Loans Insurance “When we bank poor people we must never break their trust. They depend on us.” Francis Pelekamoyo, Chair OIBM

  4. Income Generating Loans Providing a loan says to a client: “We believe in you” and places responsibility and trust upon her shoulders

  5. Small savings deposits combine to create a virtuous cycle that fuels local growth and development Savings Savings Encouraging SAVINGS is just as important as providing micro-loans. Small savings deposits combine to fuel local growth and development

  6. Protective Insurance The lives of the poor are very precarious - a single event can wipe out years of hard work. Opportunity provides micro-insurance for families and crops, reducing their vulnerability to risk.

  7. Mobile Branches ATMs Point-of-Sale Satellite offices Smart Cards Biometrics Taking the bank to the market places of the rural poor

  8. Project Targets • Micro-credit for 7,069 clients • Micro-savings for 25,029 clients, exceeding target by 25%. Deposit balances totalling MWK 227,755,306 • Micro-insurance cover for almost 29,000 families At 30th September 2010 the OIBM “Go North” project had exceeded its targets by 25%.

  9. Project Challenges Distance Branch location Staff Deposits Competition

  10. Opportunity supports the MDGs When he was at the UN, Mark Malloch Brown said “Microfinance is much more than simply an income generation tool. By directly empowering poor people, particularly women, it has become one of the key driving mechanisms towards meeting the MDGs.” Goal 1: Eradicate extreme poverty & hunger Goal 2: Achieve universal primary education Goal 3: Promote gender equality and empower women

  11. Opportunity supports the MDGs “Households of microfinance clients appear to have better nutrition, health practices, and health outcomes than comparable non-client households. Increased earnings and financial management options also allow clients to treat health problems promptly rather than waiting for conditions to deteriorate.” GCAP Goals 4+5. Improve health outcomes for women and children Goal 6. Combat HIV/AIDS, malaria, and other diseases:

  12. How does it address the Paris Declaration and the Accra Agenda? Closely aligned with Govt of Malawi priorities OIBM is regulated by the Reserve Bank of Malawi Autonomous and all senior staff are Malawian Rigorous training on transparency and accountability for all staff

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