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Microfinance Helping End Famines in Africa

A recent article in The Globe and Mail titled "The Horn of Africa's Last Famine?" by Sam Dryden discussed the need for both short-term and long-term solutions for food production and security if we are to truly see an end to famines in Africa. He writes, "But while much more needs to be done to meet the victims’ immediate needs, we should also be thinking about long-term solutions to preclude food crises on this scale from happening in the first place."

The Globe and Mail article concludes with, "That’s why it’s more important than ever for international donors and African governments to continue to support programs that give small farmers access to the good seeds, quality tools and reliable markets they need to become self-sufficient. It’s up to all of us to make sure this horrible famine is the last."

Opportunity International has recognized this need and in February 2010, Opportunity International announced a $16 M partnership with The Gates and MasterCard Foundations to provide financial access to 1.4 M of the rural poor in Africa to help provide some of the long-term solutions Mr. Dryden proposes we need. Reeta Roy, President and CEO, The MasterCard Foundation stated, "The MasterCard Foundation believes that Opportunity International's innovations in microfinance will prove to be key contributions to helping Africa's poor and rural families become self-sustaining,"

Thanks to the partnership with the Gates and MasterCard Foundations, products and services like agrifinance, focused on rural outreach, can be used along with the savings, loans, insurance and training being provided by Opportunity to empower small-scale farmers to become big change agents in their communities.

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Founded in 1971, Opportunity International provides small business loans, savings, insurance and training to over two million people working their way out of poverty in the developing world.

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