Partnership period: November 2014 – March 2018
ACHIEVEMENTS: At least 5,000 smallholder farmers will be trained in good agricultural practices and will gain access to loans and other banking services.
PURPOSE: Increase smallholder farmer access to loans and other banking services. More than 30 percent of rural Mozambicans live more than three hours from a bank, and many smallholder farmers must borrow from unregulated moneylenders at exorbitant interest rates or sell their future harvest early at significantly reduced value to receive cash.
APPROACH: Opportunity International, through a private local financial services provider, Banco Oportunidade de Moçambique, is working during the program partnership to provide sesame and soybean farmers with financial and banking services including loans, savings accounts, and mobile money services. And by providing farmers with training on good agricultural practices and financial literacy, Opportunity International is increasing the likelihood of loan repayment.