Pending regulatory approval, VisionFund International, a US-based affiliate of the Christian humanitarian organization World Vision International, recently agreed to purchase a majority stake in Opportunity International’s (OI’s) microfinance institution (MFI) in the Democratic Republic of Congo (DRC). OI, a US-based microfinance NGO, retains a 20-percent stake and one seat on the board.
VisionFund plans for the MFI to provide small loans for better sanitation, nutrition, education and medical services. The initial region of focus will be the Kinshasa area.
As of 2015, VisionFund has a loan portfolio of USD 474 million outstanding to approximately 1 million borrowers, mostly women. Founded in 1971, Opportunity International is a nonprofit organization that provides loans, savings, insurance and training to 12 million individuals in 28 countries in Africa, Asia, Europe and Latin America. World Vision raised USD 1 billion in cash and in-kind gifts during 2014 and serves approximately 100 countries as of 2015.
By Kevin van den Brink, Research Associate
About VisionFund International
VisionFund International, a US-based nonprofit organization, offers financial services to families living in poverty in the developing world through a network of microfinance institutions in 32 countries in Asia, Africa, Latin America and the Caribbean, the Middle East and Eastern Europe. Its services include small loans and business training and support. VisionFund is part of US-based World Vision, a Christian relief, development and advocacy organization. As of 2015, VisionFund has a loan portfolio of USD 474 million outstanding to approximately 1 million borrowers.
About Opportunity International
Founded in 1971, Opportunity International is a nonprofit organization that provides loans, savings, insurance and training to 12 million individuals in 28 countries in Africa, Asia, Europe and Latin America. Based in the US city of Chicago, Opportunity International also has administrative offices in Australia, Canada, Germany, Hong Kong, Singapore, Switzerland and the UK. As of December 2014, Opportunity International reported total assets of USD 59 million and contributions and grants of USD 4 million.
About World Vision International
World Vision is a US-based Christian humanitarian organization dedicated to working with children, families and their communities to “reach their full potential” by tackling the causes of poverty and injustice. World Vision serves poor people regardless of religion, race, ethnicity or gender. The organization operates microfinance institutions through its subsidiary VisionFund International. World Vision raised USD 1 billion in cash and in-kind gifts during 2014 and serves approximately 100 countries as of 2015.
Sources and Additional Resources
[1] Information provided to MicroCapital by VisionFund International
MicroCapital Universe Profile: VisionFund International
MicroCapital Universe Profile: Opportunity International
MicroCapital Universe Profile: World Vision International
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