A Global Leader

in Building

Microfinance Banks
for the Poor

1
 Table of Contents 17 Commercial MFIs Built Since 2000
In Partnership with
1 Banking on the Poor — Opportunity’s Impact

Key Features of Opportunity Banks USAID

3 2 Focused on the Poor The UK Department for International
5 5 Full Range of Products & Services
Development (DFID)

6 Leveraged with Investment Capital & Deposits Canadian International Development Agency (CIDA)
6
7 Regulated & Accredited World Bank/CGAP
7
8 Bank Building Methodology Bill & Melinda Gates Foundation
11 Technology & Innovations for Rural Clients Caterpillar
12 Global Network of Banks Hyperion
14 The Opportunity Bank Building Team Lenovo
18 Funding Partners Levi Strauss
20 Why Business Leaders & Venture Capitalists Weberg Foundation
Support Opportunity
SAJE Foundation

HSBC Bank
The Opportunity International mission is to
provide opportunities for people in chronic
Citigroup
poverty to transform their lives.
Hilton Foundation
on the cover: Fasilili Chidawo, marketplace vendor, Malawi
European Commission

and more than 3,800 individual donors in Australia,

Canada, Germany, the UK and the US
 Banking on the Poor
Since 1971, Opportunity International has built 44 microfinance Active Loan Clients &
institutions in 28 countries in Africa, Asia, Eastern Europe and Latin Number of Businesses Financed

America with the mission to grant the poor access to the products
482,571
and services that will help them work their way out of poverty. 2003 601,818

In 2000, Opportunity established its first microfinance bank, capable 2004

692,491
837,262
of offering not just micro loans, but a wide range of financial services,
832,298
including deposit services and insurance. Since then, Opportunity 2005 1,040,045
has built 17 commercial microfinance institutions and plans to
960,829
continue this growth at a rate of two per year. 2006 1,210,518

0 200,000 400,000 600,000 800,000 1 million

“We are working toward the day when those who
need a loan to grow their business, or a safe place
to deposit their savings, or an insurance policy to Arrears Over 30 Days

protect their family’s health and assets, can find this 3.0%
2.5%
service readily available in their own community —
2.0%
provided by an institution dedicated to their
1.5%
needs and well-being.” 1%
– Christopher A. Crane, President & CEO, 0%
2003 2004 2005 2006
Opportunity International (2.7%) (2.0%) (1.6%) (2.0%)

Today, Opportunity serves 960,829 loan clients, employs 7,317 staff,

Value of Loans Made (in millions)
provides deposit services valuing $159 million and provides insurance
$450
to 3.1 million clients and family members. Since its inception,
$350
Opportunity has disbursed over 6.5 million loans.
$250
$150
$0
2003 2004 2005 2006
($160,517,457) ($244,205,719) ($347,077,296) ($466,037,859)

1
 Key Features of Opportunity Banks
n focused on the poor n focused on the poor
With an average first loan size of $262 and 85 percent of its loans
n full range of products provided to women, Opportunity is committed to offering a full
& services range of financial products and services to the poorest entrepreneurs
around the world. Opportunity is focused on serving the poorest of
n leveraged with investment the economically active and seeks to reach DOWN to the poorest
capital & deposits and OUT to the remote and marginalized. Opportunity maintains
a sustained focus on developing new products to service this market
n regulated & accredited and tailoring existing products to better fit their needs. These financial
services help poor families build and protect the economic foundation
of their families and communities. Opportunity’s Client Impact
“Opportunity International demonstrates very Information Management System (CIIMS) tracks a variety of
clearly how small loans and other financial services indicators which helps the organization continually upgrade its
product offerings to meet client needs.
can make an important difference in the lives of the
world’s poorest and most vulnerable people.” Opportunity recognizes that the very poor need more than financial
– Sylvia Mathews, President of Global Development, products to work their way out of poverty. For this reason,
Bill & Melinda Gates Foundation Opportunity has developed more than 400 training modules —
ranging from basic accounting to HIV/AIDS education — that are
offered in weekly meetings. These modules not only help clients
learn key principles for expanding their businesses, but give them
access to information that addresses social needs. Opportunity also
employs Transformation Coordinators who provide training and link
clients to housing, health and HIV/AIDS services in their communities.
To support the work of the Tranformation Coodinators, Opportunity
has established strategic alliances with organizations like Compassion
International and Habitat for Humanity.

2
Ten employees in Uganda now work
for Gloria Nanono Kigundu’s weaving
business. Since receiving $154 from
Opportunity in 2000, Gloria’s business
has doubled in size.
Gaeten Dery, Deposit Mobilization Officer,
Opportunity International Savings & Loans, Ghana
n full range of products & services
Micro loan products
Opportunity offers a variety of tiered lending products for micro
and small businesses, including group and individual business loans.
Savings products
The commercial banking model allows Opportunity to provide needed
deposit products while developing an affordable source of capital
for growth. In Malawi, depositors currently amount to six times the
number of loan clients. Opportunity has introduced biometric client
identification technology to make managing small deposits from the
poor a feasible proposition, while smart cards make transactions
more secure and convenient for clients.
Micro insurance
Opportunity International is a pioneer in the development of
insurance products designed to provide a financial safety net for the
poor. With 641,000 policy holders covering 3.1 million lives in ten
countries, Opportunity is a global leader in the development
and distribution of micro insurance policies for the poor. In Africa,
insurance products focus on mitigating the impact of HIV/AIDS
and the high mortality rate on the family members of clients.
Opportunity is pioneering other innovative insurance products such
as a weather-indexed crop insurance product developed with the
World Bank in Malawi. This product mitigates the high risk of
drought and its negative effect on crop yields so that farmers can
access credit for seeds and fertilizer without danger of defaulting.
Opportunity’s Micro Insurance Agency
the world’s first insurance broker exclusively serving
low-income families
The Micro Insurance Agency, an Opportunity International subsidiary,
builds and operates insurance companies in developing countries
that provide the poor with access to affordable life, property and
health insurance products. The Micro Insurance Agency designs,
distributes and administers insurance products for the clients of
microfinance and development organizations around the world.
With average premiums as low as $1.50 a month for a family of five,
Opportunity’s Micro Insurance Agency is making affordable insurance
available for the first time to those at risk. To date, Micro Insurance
Agency operates subsidiaries in Ghana, the Philippines and Uganda,
with plans to open in South Africa. The Micro Insurance Agency will
open a minimum of three new countries per year with initial focus
on Africa and Asia.
“Opportunity International is a world leader in
developing insurance for the poor and successfully
piloted crop insurance in Africa with the World Bank
in 2005. This is a big deal for those of us who are
working on trying to raise farm income in rural
Africa … This is a very impressive thing.”
– President Bill Clinton at the Clinton Global Initiative
5
 n leveraged with investment capital & deposits

Opportunity acquires debt financing and equity for its microfinance Debt Raised (in millions)
institutions to capitalize expansion and meet requirements for long- $60

term growth. For a list of Opportunity’s investment partners, please $50

refer to page 18. Additionally, deposits mobilized by Opportunity $40

$30 $64,000,000
banks serve as a significant source of lending capital for its institutions. $52,499,000
$20
The Opportunity Loan Guarantee Fund $10 $17,873,300
$9,951,000
The Opportunity Loan Guarantee Fund (OLGF) provides letters of $0
2003 2004 2005 2006
credit through HSBC Bank to enable our partners to secure loans
in local currencies. OLGF encourages commercial banks to lend to
financial institutions, whom they often perceive to be a riskier Equity Raised (in millions)
$12
investment because they are unfamiliar with the business of micro-
$10
finance or because they may not qualify for credit on conventional
$8
terms. In addition to lowering the perceived risk, OLGF accelerates
$6 $11,264,889
banking relationships, minimizes foreign exchange risk and improves $9,310,000
$4 $7,500,000
asset / liability management.
$2 $4,208,425

In Ghana, OLGF provided a $1 million guarantee for Opportunity $0

2003 2004 2005 2006
International Savings and Loans (OISL) to borrow $3 million in
local currency financing from Ecobank. This enabled OISL to nearly
Deposits Mobilized (in millions)
double their borrowers and resolve liquidity issues for onlending.
$160
$140
$120
$100

$80 $159,207,526

$60
$40
$20 $40,058,698
$8,751,506
$4,273,473
$0
2003 2004 2005 2006

6
 Leveraging Grant Funds for the Poor:
usaid finances economic growth in montenegro
Since 1999, USAID has provided $11.4 million to Opportunity
International to establish and grow the Opportunity Bank of
Montenegro (OBM). With current short- and long-term debt and
equity at $26 million and savings deposits exceeding $142 million,
Opportunity has provided significant leverage for USAID’s infusion
of capital. Today, OBM serves more than 28,000 loan and 50,000
savings clients, with a portfolio in arrears (over 30 days) of 0.23%.

“OBM has truly added value to the financial services

sector in Montenegro by not only supporting micro
and small business activity but also developing its
domestic and international payments products.”
—Maria Teresa Zappia, Principal Group for Small Business,
European Bank for Reconstruction and Development

n regulated & accredited

In addition to operating under the supervision of central banks
and other governing bodies, Opportunity maintains an internal
self-assessment and peer-review-based accreditation process for
its banks. Opportunity’s Standards and Accreditation team performs
a commercial accreditation, using the CAMEL (Capital adequacy,
Asset quality, Management, Earnings, Liquidity) system, as well as
a mission accreditation to assess the institution’s adherence to
Opportunity’s commitment to providing products and services for
the poorest entrepreneurs.
With her first loan of $54, Glenda Salinas of Tegucigalpa,
Honduras was able to purchase materials in bulk and
expand her tortilla business.
7
 Building Microfinance Banks from the Ground Up
To build a microfinance bank, Opportunity carries out
extensive market research; develops a business plan;
recruits a local and international management team
and board of directors; raises grant, equity and debt
financing; gains a banking license from the central
bank; installs its information management systems;
develops the appropriate mix of products and services
and oversees operations.
Each bank provides a full suite of financial products tailored to the
varying needs of the poor within the country. Through the use of
low-cost structures and technologies that include a mix of bricks
and mortar, mobile branches, ATMs, point-of-sale devices and cell
phones, each bank seeks to rapidly develop a nationwide network of
“points of sale” access to better serve rural areas where few, if any,
such services previously existed.
8
Opportunity Bank Start-up Methodologies:
n greenfield
Since 1971, Opportunity’s primary methodology for expanding into new
countries has been through building new microfinance institutions.
To date, Opportunity has built seven full-scale microfinance banks
from the ground up.
n conversions
Opportunity also transforms existing microfinance providers into
formal financial institutions capable of offering insurance services
and interest-bearing savings accounts, in addition to a range of
loan products.
n consolidations /acquisitions
Opportunity sees one of its key roles as a consolidator of existing
MFIs, as many countries have MFIs in need of capital, IT, governance,
professional management and technical assistance. Typically, these
institutions are unable to provide their clients with a full range of
services due to their unregulated status or lack of capital. In this
case, Opportunity will acquire the NGO’s loan portfolio, including
the transfer of capital and other assets; streamline operations to
improve overall efficiency, including necessary changes in staff
and product offerings; and apply for a banking license. When the
process is complete, the clients will be integrated into the formal
banking structure Opportunity has established. To date, Opportunity
has acquired and consolidated five MFIs in Mozambique, Kenya
and Uganda.
“Opportunity International builds banks for the poor as a way to bring economic
justice to poor people, to help buffer them against the financial risks they face and
to empower them to achieve their goals.”
—Roger Voorhies, COO, Opportunity International Bank of Malawi
Rural Clients Reached Through Innovations in
Products & Technology
Biometric Technology and Smart Cards
By utilizing biometric technology, Opportunity banks give clients
a secure way to access financial services without the need for a
national identity card. Instead, a client’s fingerprint is recorded in
the bank’s system for future access and identification. In 2002, the
Opportunity International Bank of Malawi (OIBM) began distributing
smart cards, on which the client’s biometric identification is
embedded on a chip. Today, OIBM is the largest issuer of smart
cards in Malawi, serving over 55,000 savings and 9,100 loan clients.
With this technology, OIBM can now complete a transaction in about
five minutes, which is significantly less than the typical time it takes to
complete a transaction at most other commercial banks in the country.
This helps keep costs down for both the institution and the client.
ATMs and Point-of-Sale (POS) Devices
Opportunity is committed to finding innovative and cost-effective
ways to extend its financial services to rural areas. Currently,
Opportunity is deploying ATMs and POS devices in rural areas,
including markets and farm shops, to reach remote clients
without the costs of establishing a full satellite branch.
The Opportunity MIS Service Center
Opportunity is on the cutting edge of providing high-tech MIS solutions
for microfinance through Opportunity’s Denver-based MIS Service
Center, which provides training and development support to
Opportunity banks. Opportunity’s MIS software—eMerge—provides
a standardized, state-of-the-art and reliable accounting and portfolio
management system and was developed in cooperation with Temenos,
a leading banking industry software company.
The MIS Service Center also serves as an Application Service Provider
(ASP) for Opportunity banks. The ASP remotely manages the banks’
complex daily operations, including maintaining site-specific technical
system and process documentation and providing daily technical
operations reports (end-of-day statistics and status), as well as
monthly system performance and change management reports.
11
 Building a Global Network of
Opportunity Microfinance Banks
Since 2000, Opportunity has built 17 commercial microfinance
institutions1 in Albania, China, Ghana, India, Macedonia, Malawi,
Mexico, Montenegro, Mozambique, the Philippines2, Poland, Romania,
Russia, Rwanda, Serbia and South Africa. By 2015, Opportunity will
operate more than 25 microfinance banks3 around the world.

Africa
current by 2007/08 next 5 years
• Ghana • DR Congo • Angola
• Malawi • Kenya • Benin
• Mozambique • Tanzania • Burkina Faso
• Rwanda • Uganda • Ethiopia
• South Africa • Liberia
• Madagascar
• Niger
• Nigeria
• Senegal
• Sierra Leone
• Sudan

Latin America Asia Eastern Europe

current current current
• Mexico • China • Albania
next 5 years • India • Macedonia
• Brazil • The Philippines • Montenegro
next 5 years • Poland
• Cambodia • Romania
• Sri Lanka • Russia
• Vietnam • Serbia

12

Established commercial MFI
Consolidation, conversion or start-up underway
Targeted countries for expansion
1 3
Opportunity’s commercial microfinance institutions
in Albania, China, India, Mexico, Poland, Romania
and South Africa are not yet able to mobilize public
deposits due to their particular regulated structures.
Opportunity’s goal is to bring each of these
institutions to a full bank status so that they can
offer clients a full range of financial services.
2 Opportunity Microfinance Bank and
Kauswagan Bank.
Sometimes certain restrictions or minimum capital
requirements prevent Opportunity from obtaining
the status of a full commercial bank as its initial
entry structure. When this occurs, Opportunity
will take the next best option for providing the
poor with a broad range of financial services, such
as gaining a license as a finance or savings and
loans company, with an aim of applying for a full
bank license at the appropriate time.
13
 The Opportunity Bank Building Team
Global Management
Larry Reed
CEO, Opportunity International Network
Oversees the global coalition of
Opportunity MFIs. Beginning his service
with Opportunity in 1984, Larry has held
a variety of senior positions within the
organization. In 1991, he founded
Opportunity’s Africa Regional Office
in Zimbabwe and served as its Africa
Regional Director until 1996. Holds an
M.A. in Public Policy from the John F.
Kennedy School of Government at
Harvard University with concentrations
in International Development and
International Finance.
Adrian Merryman
COO, Opportunity International Network
Responsible for direct oversight and
management of Opportunity’s Operations
Group. Previously served as CEO of
Screen PLC, Chief Investment Officer for
Interregnum PLC, CEO for Temenos
Systems and Executive Director of CIBC
Oppenheimer Corporation. Holds an
M.B.A. from Harvard Graduate School
and a B.A. in Economics and Political
Science from Swarthmore College.
Colin McCormack
CEO, Africa Holding Company
Former Managing Director of Barclays
Bank of Egypt. Manages Opportunity’s
roll-out of microfinance banks across
sub-Saharan Africa, ensuring that large-
scale outreach to the very poorest is
maintained and that the core compo-
nents of Opportunity’s banking model
are effectively transferred across borders.
14
Keith Flintham
Regional Director, Europe
Former CEO of the Opportunity Bank
Montenegro, which he led from a not-
for-profit institution to a thriving com-
mercial bank. Formerly served in various
management positions with National
Westminster Bank.
Paul Honeyman
Regional Director, Asia
Opportunity’s senior representative
and focal point for communication
between headquarters and institutions
in the field. Previously served as Business
Development Chairman for Siam
Insulating Glass Manufacturing Co.
Ltd. Holds an M.B.A. in International
Business from University of South
Carolina and Vienna School of Economics
and a B.A. in Economics and Business
from Westmont College.
Jim Frantz
Regional Director, Latin America
With 11 years of international management
experience, Jim oversees the development
and growth of Opportunity’s MFIs in
Latin America. Previously served as
Regional Manager of Land O’Lakes in
Eastern Europe where he managed $7
million in agricultural and business
development projects. Holds a B.A. in
International Relations from the
University of Minnesota.
Richard John
Senior Vice President and CFO
Previously served with Amoco and as
Supervising Senior Auditor for Price-
Waterhouse in New York. Has led
Opportunity’s financial and accounting
activities since 1996. Holds an M.B.A.
with majors in Economics and Finance
from Northwestern University and a
B.A. in Business Administration and
Accounting from the University of
Wisconsin.
Connie Stryjak
Vice President, Human Resources
Previously served as VP of Human
Resources at General Electric, where she
oversaw Human Resource leadership
and services throughout Europe and
Asia. Provides global Human Resource
leadership to Opportunity’s worldwide
network of microfinance organizations.
Ken Vander Weele
President, Opportunity Investments
Former Senior VP, CFO and Founding
Shareholder of Graphisphere Corporation.
Responsible for acquiring and placing
debt and equity financing. Served as
Regional VP for Eastern Europe where he
developed and managed Opportunity’s
pioneering work in the region since 1993.
Holds a Ph.D. in International Economics
from Oxford University.
Rick Halmekangas
Vice President, Business Development
Manages new investments made in
commercial entities in the Opportunity
International Network. Has served with
Opportunity since 1995, during which
time he led the establishment of
Opportunity’s program in Albania.
Holds an M.B.A. from the University of
Chicago Graduate School of Business
and a B.A. in Political Science from
Wheaton College.
Bank Senior Management
Francis Pelekamoyo
Chairman & CEO, Opportunity
International Bank of Malawi
Francis’ 35-year banking career began
at the Reserve Bank of Malawi, where
he served as CEO from 1989 until 1995
and currently serves as a chairman.
Since leaving the Reserve Bank, has
served on 20 boards within the
microfinance and banking industry,
including Opportunity MFIs in Zambia,
Mozambique, Malawi and Ghana.
Holds an M.A. in Economics from Yale
University and a Diploma in Monetary
Economics from St. Andrews University
in Edinburgh, Scotland.
Rodger Voorhies
COO, Opportunity International
Bank of Malawi
Began his service with Opportunity in
1993 as Deputy Regional Director for
Eastern Europe where he was responsible
for new country development and pro-
gram design. Went to Malawi in 2002 to
establish the Opportunity International
Bank of Malawi, the first full-scale
commercial bank in Malawi to focus on
serving the poor. Served as Opportunity’s
Investment Manager for Africa and
Startup Manager for Zambia after coming
from a career at Bank of America. Holds
an M.B.A. from Kellogg Graduate School
of Management at Northwestern
University.
Claudia McKay
Head of Microbanking, Opportunity
International Bank of Malawi
Previously served as Technical Consultant
for Opportunity’s organizational develop-
ment department, and as Marketing
Manager and Asian Program Manager
for Opportunity – UK. Also served as a
consultant in the Boston Consulting
Group. Holds an M.B.A. with distinction
from Oxford University and a B.A. in
International Relations from Claremont
McKenna College.
Ben Botha
CEO, Banco Oportunidade de
Mozambique
Has over 17 years of banking experience
and was formerly the Division Head
of Banking and Commercial Activities
for Banco Austral, where he oversaw
operations for 53 branches throughout
Mozambique. Joined Opportunity in
2004 to help establish its new micro-
finance bank in Mozambique and lead
its consolidation growth strategy. Holds
a B.A. in Commerce with a major in
Business Economics from the University
of South Africa.
Benjie Montemayor
CEO, Opportunity International Savings
and Loans, Ghana
Has led the growth of Opportunity in
Ghana, including its conversion from an
NGO to a Savings & Loans and soon-
to-be full-scale commercial bank. Began
his service with Opportunity in 1989
serving as Regional Coordinator for
Asia, Director of Banking Services, Vice
President of Financial Development and
Director of Opportunity Transformation
Investments. Benjie previously served
with the People’s Credit & Finance
Corporation in the Philippines. Holds
an M.B.A. from the University of the
Philippines and an M.A. in Economics
from Ateneo de Manila University.
Ernest Boateng
Head of Microfinance Banking,
Opportunity International Savings and
Loans, Ghana
Previously served as Director of
MasterCard International where he
managed strategic business initiatives
for global credit-based programs, and
as Resident Vice President for Citigroup/
Citibank. Also served with HSBC, Deutsche
Bank and Skandinaviska Enskilda Banken.
As head of microfinance banking in
Ghana, Ernest provides overall leadership
and management to all commercial
operational activities. Holds an M.B.A.
with a major in Finance and International
Management Strategy from the Wharton
School at the University of Pennsyl-
vania and a B.A. in Economics from
Dartmouth College.
Dabbs Cavin
CEO, Opportunity International
Bank Rwanda
Former Executive Vice President and
Chief Lending Officer for Bancorpsouth
Bank in Arkansas, formerly Pinnacle
Bank. Has 20 years of banking experi-
ence with expertise in strategic planning,
policy development, regulatory compli-
ance, personnel management, marketing
and budgeting. Holds a J.D. from the
University of Arkansas and a B.S./B.A.
from the University of Arkansas with
majors in finance and banking.
Manfred Kuhn
CEO, Opportunity Finance, South Africa
Joined Opportunity in 2006 to lead its
start-up in South Africa. Previously
served as Manager of Credit Operations,
Credit Risk and Data Analytics at Credit
Indemnity. Also served as Research
Economist at the South African
Canegrowers’ Association and as Senior
Research Assistant at the University of
Natal. Holds a Ph.D., M.S. and B.S. in
Agricultural Economics from the
University of Natal.
Mano Kamaleson
CEO, Opportunity Kenya
Former Executive Director of CAPA
Foundation Romania, with previous bank-
ing experience at the Bank of America
and Lincoln Savings & Loan in California.
Previously served with Opportunity as
Director of Business Development for
Europe and Asia. Currently leading
Opportunity’s expansion into Kenya,
which includes the consolidation of
a nongovernmental microfinance
organization into Opportunity’s new
banking structure. Holds an M.B.A.
in International Finance from Peter F.
Drucker Graduate School of Management
and a B.A. in Business Administration
from Azusa Pacific University.
Tatjana Yurina
CEO, FORUS Bank, Russia
Has nine years of experience in the
microfinance industry. Served as
Executive Director of FORA Fund
since 2003 and was appointed as
FORUS Bank CEO in 2006. Holds an
M.B.A. from Nizhegorodskiy State
University and is a graduate of the
Saratov Institute of Economics and
Volgo-Vyatskiy Academy of State Service.
Mark Crawford
CEO, Opportunity Bank Montenegro
Established the Opportunity Bank in
Montenegro by converting a local lend-
ing institution into a profitable retail
microfinance bank. Prior to joining
Opportunity, managed the Albanian-
American Enterprise Fund, capitalized at
$30 million. Holds an M.A. with a focus
on economics and finance from the
University of London and a B.A. from
Miami University. Serves on the board of
Opportunity banks in Albania and Serbia.
John Schubin
CEO, Opportunity Bank Serbia
Developed Opportunity’s Bank in
Serbia into a thriving bank for the poor
with a revolving loan portfolio of over
$10 million. Previously served as COO
for Opportunity Bank Montenegro and
as a Peace Corps Business Management
Consultant in Bulgaria.
Charles Ertzinger
CEO, Opportunity Microcredit Romania
Worked for eight years with Hawkeye
Bancorporation, a regional bank holding
company, where he served as a Senior
Vice President. Founded and served as
Director of ASSIST, a financial consult-
ing company. From 2003-2005, served
as a financial consultant and advisor
to USAID financial and credit projects
15
 The Opportunity Bank Building Team (continued)
in Romania and Bulgaria. Served as
CEO for Opportunity’s microfinance
institution in Albania until the end of
2006. Holds an M.A. in International
Studies/Adult Education and a B.A.
in Agricultural Economics from Iowa
State University.
Robert Hart
CEO, PShM, Albania
Former Vice President of the Financial
Institutions Group of Citibank, where he
was responsible for product and sales
training, risk analysis and transaction
structuring for U.S. banks. Prior to
joining Opportunity, served as Bank
Modernization Consultant in Saudi Arabia,
Colombia, Peru, El Salvador, Mexico,
Chile and Venezuela. Holds an M.A. in
International Business from the American
Graduate School of International
Management and a B.A. in International
Relations from the University of Virginia.
Snezana Andova
CEO, Moznosti, Macedonia
Led the establishment of Moznosti as
a Savings Bank, which converted from
an NGO in 2000. Prior to joining
Opportunity, served as the Financial
Manager of a Macedonian import textile
company and as the Manager of Plan
and Analysis for a manufacture trade
company.
16
Maria Elena Taylor
CEO, Oportunidad Microfinanzas, Mexico
Became CEO of Oportunidad
Microfinanzas in 2005 and has led it
through a stage of aggressive growth and
expansion. Previously served as CEO of
Opportunity’s MFI in Honduras. Holds an
M.A. in International Development from
Saint Mary’s University and a B.A. in
Economics from Saint Vincent University.
Angel de Leon
CEO, TSKI and Kauswagan Bank,
Philippines
Has served as CEO since 1986, spear-
heading the development of one of the
fastest growing MFIs in the Philippines.
Co-developed a branch office replication
methodology which can establish a
new branch with borrowed funds and
become financially viable within one
year. Previously served as President and
Manager of the Rural Bank of Zarraga
and Area Manager for the Visayas region
of Banco de Oro. Holds an M.B.A., a
B.A. in Philosophy and a B.S. in
Business Administration from the
University of the Philippines.
Noel Alcaide
CEO, Opportunity Microfinance Bank,
Philippines
Has been involved with Opportunity
for over 20 years, serving as Regional
Resource Manager for the Philippines,
CEO for KMBI and consultant for the
Opportunity Network prior to his role
as CEO of OMB. Concurrently served
as President and CEO of APPEND, the
microfinance network of the Philippines.
Banking Products, Systems
& Services Group
Richard Leftley
President, Micro Insurance Agency, Ltd.
Previously worked as a reinsurance
broker for Benfield Greig Ltd., the
world’s largest independent reinsurance
broking group. Pioneered the introduc-
tion of insurance products within
Opportunity and launched the Micro
Insurance Agency in 2005. Richard is
leading the establishment of Micro
Insurance Agencies around the world,
with an initial focus in Africa and Asia.
Tracey J. Talentino
Director, Partner Services
Has 13 years of experience in design,
implementation and evaluation of
international microfinance programs
in 25 countries. Previously served with
Chase Manhattan Bank and the Spanish-
language media company Univision.
Holds an M.S. in International Affairs
from Columbia University and a B.A.
in Spanish from Boston College.
Shadreck Mapfumo
Senior Insurance Manager
Develops and manages Opportunity’s
insurance services in Africa, Asia and
Latin America. Since 2005, has been
working with the World Bank’s
Commodity Risk Management Group in
piloting weather-indexed crop insurance
in Malawi. Holds an M.A. in Actuarial
Studies from the Australian National
University and is an Associate of the
Institute of Actuaries of Australia as well
as an Associate in Reinsurance and
Associate of the Chartered Insurance
Institute. Holds a degree in Insurance
and Risk Management from the
National University of Science and
Technology in Zimbabwe.
Roy Pratt
Vice President, Strategic Development
Before joining Opportunity, enjoyed a life-
time career in commercial retail banking
in the UK with Midland Bank, HSBC and
MasterCard. As director of origination
and governance for Mondex International
Ltd., set up regulated financial institu-
tions around the world enabling them to
handle e-cash transactions. Currently
leads the development and implementa-
tion of Opportunity’s Standards and
Accreditation function to address the
dimensions of accreditation, risk man-
agement and business assessment.
Daryl Skoog
Vice President, MIS Division
As a VP for Federal Express, he managed
550 employees and an operating budget
of $80 million, providing strategic
direction in the development of core
operating systems to support worldwide
package movement, ground operations,
customer service, customs and billing
functions. As VP of MIS at Opportunity,
Daryl provides strategic direction for
the acquisition and deployment of core
operating systems for Opportunity’s
MFIs and provides support for all
deployed systems.
Marivic Lau from the Philippines used her
loans from Opportunity to hire additional
workers (like the one shown here) and to
expand her business. She now has six
employees and works through 13 vendors
to sell her baked goods.
Diana Cazacu
Regional IT Director, Africa
Responsible for designing and super-
vising IT strategy and implementation
for Opportunity microfinance banks in
Africa. Joined Opportunity as a consult-
ant in 2002 serving as Project Manager
and Senior Business Consultant for
Opportunity start-up banks in Serbia,
Malawi, Ghana and the Philippines, and
for existing Opportunity institutions in
Romania and Albania. Previously served
as Manager of Banking Solutions at
Temenos Globus. Holds a B.A. in
Commerce from the Academy of
Economic Sciences in Bucharest,
Romania.
Robin Bell
Vice President, Planning and
Product Development
Former President of Bellare Consulting
Inc. with 23 years experience in micro
and small enterprise banking, including
serving with the DAI Group, Development
Alternatives, Inc. and Bannock Consulting,
Inc. Served as Vice President of the
Commercial Loan Department of
NationsBank. Holds an M.B.A. in
Finance and a B.A. in International
Relations from American University.
Makonen Getu
Director of Strategic Alliances
Specialist in development economics
and international relations. Previously
served as Opportunity’s Deputy
Regional Director for Africa where
he provided technical support to
Opportunity’s MFIs in Africa and set
up the Africa Regional Training Center.
Former Rural Development Advisor for
the Swedish International Development
Agency. Holds a Ph.D. in Economic
History and a B.A. in Economics and
Economic History from the University
of Stockholm. Serves as adjunct faculty
for Oxford University.
Nick Walden
Senior Savings Manager
Joined Opportunity in 2002 after a
successful 25-year career with Barclays
Bank PLC. As Senior Savings Manager,
researches, develops and implements
savings products that deepen outreach
to new segments, serve the needs of
existing loan clients and provide liquidity
to the institution and clients. Oversees
introduction and implementation of
products including back-office process
design, additional regulation and security,
and staff training and evaluation.
17
 Funding Partners for Building Opportunity Banks
The United States Agency for International Development (USAID)
USAID has provided Opportunity International with $77 million
in grants to build and expand microfinance institutions in Albania,
Bulgaria, Colombia, Croatia, Ghana, Honduras, India, Indonesia,
Macedonia, Malawi, Montenegro, Mozambique, Nicaragua, the
Philippines, Poland, Russia, Serbia, Uganda, Zambia and Zimbabwe.
Individual & Family Donors
Opportunity has raised $229 million from individuals and families in
Australia, Canada, the United Kingdom and the United States.
The Department for International Development of the
United Kingdom (DFID)
DFID has provided Opportunity International with £17 million
($32 million) for the startup and expansion of microfinance institutions
in Colombia, Egypt, Ghana, India, Malawi, Russia and Zambia.
Canadian International Development Agency (CIDA)
The Canadian International Development Agency has provided
Opportunity International with $2 million to support the
development of microfinance institutions.

Commercial Banks & Investment Funds Corporations & Foundations

The following investors have provided $177 million in debt and equity since 2003: The following major corporations and foundations have provided $18 million to
Opportunity International to build and expand microfinance institutions:
American Bank of Albania Microfinance Loan Obligations
Blue Orchard Securitization AM Corporation – Australia The Hilton Foundation
Bulgarian American Enterprise Fund MicroVest Fund ANZ Bank – Australia Hyperion Solutions Corporation
Calvert Foundation The Netherlands Development BHP Billiton – Australia JPMorgan Chase Foundation – US
Finance Company (FMO) Baker McKenzie – Australia John Templeton Foundation – US
Citibank – Romania
Oikocredit Barclays Bank – UK Leighton Holdings Limited – Australia
Commercial Bank of Albania
PCFC – Philippines Bill & Melinda Gates Foundation Lenovo Corporation
Cordaid
Polish American Enterprise Fund Bloomberg Financial Markets – US Levi Strauss Foundation – Canada, US
Deutsche Bank Microcredit Fund
ResponsAbility Microfinance Fund Bridgeway Foundation NIKE, Inc. – US
Developing World Markets
Romanian American Enterprise Fund CS Mott Foundation – US Norwest Capital – US
Ecobank
Sberbank Caterpillar Foundation – US Opplast Inc.
Etimos – Italy
Société Générale – Bank for Chase Manhattan Foundation – US The Pampered Chef – US
European Bank for Reconstruction
Romanian Development
and Development Citigroup Foundation – US Richard Driehaus Foundation – US
Société Générale – Russia
European Fund for Southeast Europe The Coca-Cola Foundation – US Rogen International – Australia, Canada
Standard Chartered Bank
Fue Vert Comic Relief – UK Rotary Clubs – Australia, Canada, UK, US
State Secretariat for Economic Affairs
HSBC Moscow Commerzbank – UK The SAJE Foundation – US
Triodos Bank
International Finance Corporation Control Risks – UK State of Guernsey, UK
Tutunska Banka of Macedonia
Kf W First Pacific Capital Underwriters State of Jersey, UK
Macedonia / Dutch Enterprise Trust Pty Ltd – Australia Toronto Community Foundation – Canada
Ford Foundation – US The Vodafone Group Foundation
Goldman Sachs International – UK The World Bank’s Consultative Group to
HFC Bank – UK Assist the Poorest (CGAP)
18
 Gina Panuela is one of six women working in the Salngan
Weavers Association in the Philippines. The group hopes to
grow their weaving business into a productive enterprise
within the community.

“Opportunity International is a global leader in microfinance and we are impressed with its innovations and success

in personal development. Lenovo believes that business is an integral part of society and Opportunity International’s

goal of reaching promising entrepreneurs in poorer regions aligns with our strategy of improving quality of life and

contributing to the development of society.”

– Deepak Advani, Chief Marketing O;cer, Lenovo

19
 Why Business Leaders & Venture Capitalists
Support Opportunity
Promod Haque, Managing Partner, Norwest Venture Partners
Richard Driehaus, Founder, Chief Investment Officer and Chairman, named #1 venture capitalist by forbes magazine (2004)
Driehaus Capital Management
Board of Governors, Supporter, 1999 to present
“A fundamental belief in Opportunity International’s philosophy is that the poor are
not victims, but instead they are the key to their own emergence from poverty.
Anyone who has built a business will tell you how true that is. Being involved in “As a venture capitalist, I have helped entrepreneurs
this organization, whose mission is to allow people to succeed, has great personal
meaning to me. Importantly, through the efforts of Opportunity International, with skills and dreams to build multi-billion dollar
many deserving people have been given a chance to build a better life.”
Board of Governors, Supporter, 1990 to present
businesses. Opportunity International nurtures this

same entrepreneurial spirit with tiny investments

Bill Pollard, Former CEO and Chairman, the ServiceMaster Company
“A gift to Opportunity is an investment in the future — an investment that will return of about $200 on a much wider scale in many different
more than an economic return as it provides for the poorest of the poor.”
Supporter, 1986 to present countries, with people living in chronic poverty.

Bill George, Former Chairman and CEO, Medtronic, and Penny George, President, I am a longtime supporter of micro credit and my
George Family Foundation
commitment to Opportunity International’s unique
“Opportunity is doing pioneering work in breaking the cycle of poverty by enabling
people to achieve economic self-sufficiency and become leaders through micro-
approach has only increased.”
financing. Its superb local teams ensure the returns of a more effective way to use
our philanthropy.”
Board of Governors, Supporters, 1998 to present

Kevin Compton, Partner, Kleiner Perkins Caufield & Byers
“I am a firm believer in the ‘hand up over hand out’ approach. People would
rather find their own way out of poverty but they need to be trained, encouraged
and appropriately funded; they need a hand up. We have been looking for over
two decades for a group that can create a self-perpetuating outreach. We found it!!
Opportunity International has what all investors look for when they write a check:
world class management, a grand vision and a track record of execution. I really
love these guys!!”
Supporter, 2002 to present
Eric McAfee, Managing Director/Founder, Cagan McAfee Capital Partners
“Visiting the entrepreneurial clients of Opportunity International in Nicaragua
demonstrated the power to improve children’s lives with only $1 of investment into
Opportunity’s programs. At the end of 20 years, Opportunity will have grown the
contribution from $1 to $4 in amount. Every $1 million enables 1 million children
and 350,000 entrepreneurs to build independence and a future for themselves and
their children over 20 years. With $10 million per major contributor, we can make
enough of an impact to change the future of a society in only a generation.”
Supporter, 2006 to present

20
“Opportunity International Bank of Malawi (OIBM) has
used the latest technology to provide an innovative array
of products targeting the low-end financial services
market … Also noteworthy have been the innovative ways
in which OIBM has leveraged its relationship of trust
and proximity with its staff and clients to provide basic
messages on HIV/AIDS prevention and care.”

—Mary Lewellen, Mission Director, USAID/Malawi

If you would like to learn more about establishing an Opportunity
International Microfinance Bank in your country of interest or to
learn more about Opportunity’s banking model and innovations,
please send an email to microbanks@opportunity.org.

To contact Opportunity’s senior leadership:

Australia www.opportunity.org.au
Paul Peters, Chief Executive Officer ppeters@opportunity.org.au
Chris Murdoch, Director, Strategic Services cmurdoch@opportunity.org.au
Mark Daniels, Program & Development Director mdaniels@opportunity.org.au

Canada www.opportunityinternational.ca
Gary Walsh, Chief Executive Officer gwalsh@opportunityinternational.ca
Martha Arias, Program Director marias@opportunityinternational.ca

Germany www.oid.org
Stefan Kneuppel, Chief Executive Officer info@oid.org

United Kingdom www.opportunity.org.uk

Edward Fox, Chief Executive Officer efox@opportunity.org.uk
Deborah Foy, International Programme Director dfoy@opportunity.org.uk

United States www.opportunity.org

Christopher Crane, Chief Executive Officer ccrane@opportunity.org
Dennis Ripley, Senior Vice President,
International Business Development dripley@opportunity.org

Photography by Ron London & Bruce Strong/Light Chasers

Susy Cheston, Senior Vice President, Policy scheston@opportunity.org

www.opportunity.org
2122 York Road, Ste. 340 n Oak Brook, Illinois 60523 n +1.800.793.9455
Additional headquarters: Australia, Canada, Germany, United Kingdom