Partnership period: November 2014 – March 2018
ACHIEVEMENTS: At least 13,199 smallholder farmers were trained in good agricultural practices and 12,205 gained 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, provided sesame and soybean farmers with financial and banking services including loans, savings accounts, and mobile money services. By providing farmers with training on good agricultural practices and financial literacy, Opportunity International increased the likelihood of loan repayment.