African Microfinance Partner Profile: Opportunity International Kenya

History

After opening Opportunity International Kenya in May 2006, the need for stable financial structures in Kenya became even more apparent. Kenya ranks 190th out of the 208 poorest countries, and faced significant political unrest after the violent outbreak following the elections in December 2007.

Opportunity Kenya works through five branches in the Western Province of Kenya, an impoverished area plagued by HIV/AIDS. Opportunity offers a variety of loan products and training to the working poor with the hope that the services will spark transformation in the lives of the poor Kenyans. In Kenya, Opportunity’s objective is to bring empowerment to those whose lives are especially filled with the darkness of poverty.

In 2008, Opportunity acquired a small microfinance organization in Nairobi, which will be integrated into the organization.

Operations

Opportunity's strategy in Kenya is to foster job creation through small businesses. Opportunity Kenya works to strengthen communities through training and counsel in topics such as business, leadership and health including HIV/AIDS education.

Opportunity requires no cash collateral for its products, unlike many of its competitors. Borrowers are only required to save a minimum amount during the six-week training period to ensure they have the ability to repay their loan. Opportunity gives mostly group loans with the objective of strengthening communities among the poor and reducing the need for cash collateral.

Almost all of OptINnow clients are impoverished women or families from Kisumu, Western Kenya or from the slum neighborhoods which surround Nairobi, Kenya’s capital city. Opportunity - Wedco is unique to OptINnow as they provide trust group micro-loans. This enables groups to fundraise for groups of men and women living in poverty around Nairobi’s slum neighborhoods.

Opportunity International - Wedco’s vision is to be a nationwide agent of economic, spiritual and social transformation while being a global center of excellence.

Opportunity International - Wedco’s mission is to empower the economically active poor through financial and related services, which attract and retain a growing client base.

Opportunity International - Wedco intends to achieve this through a commitment to their core values of Faith, Integrity, Respect/Humility, and Stewardship in the services they provide clients.

Kenya Microloan Statistics

Number of Active Clients: 10,322
Portfolio Outstanding: $2,625,282
Portfolio Overdue 30 days: 15.7%
Average Loan Size: $558
Percent of Loans to Women: 82.6%
Operational Sustainability: 42.2%

Poverty in Kenya

Unemployment rate: 40%
HIV/AIDS rate: 6.7%
Population below poverty line: 52%

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