Opportunity International Bank of Malawi (OIBM)

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OIBM is a commercial microfinance bank which targets the economically active but marginalized Malawians living in underserved areas including semi urban and rural areas.

ADDRESS: P/Bag A71, Lilongwe

PHYSICAL LOCATION: Kamuzu Procession Road , Plot nos 4/046-048, Lilongwe City .

CONTACT PERSON: Aleksandr Alain Kalanda

POSITION: Chief Executive Officer

PRODUCTS AND SERVICES OFFERED

Opportunity Bank offers a wide variety of products and services to meet the needs of the poor, marginalized Malawians and rural communities. It is flexible in its product development by listening to clients’ needs.

PRODUCT TYPE

NAME OF PRODUCT/SERVICE

Savings Products

· Ordinary Savings Accounts

· Kasupe Accounts

· Business Accounts

· Club/Association account

· Mthandizi Account with Funeral Insurance benefit

· Premium Investment Account

· Fixed Deposit

· Save Plan

· Tsogolo Langa

Treasury Facilities

· Money market deposits

Business Loans

· Group Loan – Maziko

· Individual Micro Credit (IMC) Loan – Mzati

· Small and Medium Enterprises (SME) Loans

· Tiphunzire – Financing of Private Schools

· Payroll loan

· Mphamvu loan

Agriculture Loan

· Seasonal facility for the agriculture value chain in crop/livestock production, processing, distribution, marketing and other ancillary services to agriculture

Foreign Exchange

· Foreign Currency Denominated Account (FCDA)

· Foreign Currency Transfers/ Drafts

· Foreign Currency Notes

Insurance Products

· Credit Life Insurance

· Weather Index Insurance

· Mthunzi insurance

Alternative Delivery channels

· ATM

· Banki M’khonde (Agency banking)

· Banki M’manja (Mobile phone banking)

 

OPERATIONAL AREAS

North: Chitipa, Karonga, Livingstonia, Mzuzu, Luwinga, Nkhata Bay , Jenda

Central: Kasungu, Mponela, Salima, Area 25, Kanengo, Lilongwe , Area 23, Malangalanga, Mitundu, Mchinji

South: Limbe, Blantyre Market, Neno, Fatima , Lujeri Tea Estate

Mobile Van docking points: Rumphi, Mzimba, Ntchisi, Dwangwa, Dedza, Zalewa, Mulanje, Thyolo, Zomba, Chiradzulu

TARGET GROUP: poor, economically active and marginalized Malawians

NUMBER OF ACTIVE CLIENTS: 279,000

NUMBER OF ACTIVE BORROWERS : 47,500

VALUE OF DEPOSITS OUTSTANDING: MK5,483,577,000

VALUE OF LOANS OUTSTANDING: MK4, 120,000,000

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