In 2003, Opportunity Malawi launched a bank to serve people living in poverty. To reach remote communities, Opportunity uses mobile bank vehicles, ATMs and point-of-sale (POS) devices in local businesses. This allows people to access services right in their own villages, saving the time and cost of travel. Opportunity also offers biometric fingerprint identification on an ID card, keeping a client’s savings secure. With a savings portfolio of nearly $32 million, Opportunity Malawi clients’ deposits are funding loans in their own communities and stimulating their local economy.
Statistics About Malawi
Population: 15 million
Population living below poverty line: 53%
Life expectancy: 43 years
GDP per capita: $800
HIV prevalence: 14%
Literacy rate: 63%
Population in formal labor force: 38%
