Gates, MasterCard Foundation Back Microfinance Group in Africa

Approximately 1.4 million people in five African countries are expected to gain access to microfinancing services from Opportunity International, a U.S.-based international nonprofit that currently serves Malawi in southeast Africa. Opportunity International will receive a USD16 million grant from the Bill & Melinda Gates Foundation and the MasterCard Foundation that will allow it to expand the coverage of its services, Puget Sound Business Journal reports.