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.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.