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Opportunity co-founder and former president of Bristol Myers International Corporation, the late Al Whittaker, encountered poverty as he travelled throughout the world in the 1960’s and 70’s.
He asked the people he met: “What do you need?”
They replied: "Work. With jobs, we will solve our own problems."
Convinced that people could improve their own lives if given an opportunity to do so, he resigned from his corporate position (aged 52), sold his country home, and established the first programme in Latin America.
Colombian entrepreneur Carlos Moreno received the first loan in 1971.
Carlos used the loan to start a tea and spice business. Two years later, he was employing 11 people. In his late 70s, Carlos recalled with pride his business success, “My loan helped me to expand my business so I could sell 52 different products.”
After Cyclone Tracy tore through Darwin in 1974, successful entrepreneur David Bussau rallied a team of volunteers to help rebuild the town.
Soon after, he decided to retire from his businesses (construction) and to invest himself in poverty alleviation initiatives. He established and endowed a family foundation - Maranatha Trust - to fund holistic development in the fields of microfinance and entrepreneurship, education, leadership development and disaster rehabilitation.
One of the first initiatives David pioneered was the provision of small business loans to poor entrepreneurs in Asia. This came about after he responded to a request to help rebuild an earthquake-struck community in Indonesia in 1976.
David moved with his family and lived with the people affected by the quake. However, he soon realised that the provision of infrastructure alone was not enough to lift people out of poverty. Access to credit and productivity were also essential factors.
David began offering small loans to local people – a ‘hand up’ rather than a ‘hand out’. These loans provided finance for small businesses, empowering people to generate an income and to meet their own basic needs such as food, shelter and education. This approach also inspired confidence, dignity and self-respect among these poor entrepreneurs.
Ketut Suwira, a struggling Indonesian farmer, received the first loan from David. A loan of $50 enabled Ketut to buy a sewing machine and start his own tailoring business. Ketut went on to run an import/export business and own a fleet of taxis, providing a wide range of employment for his local community.
David Bussau and Al Whittaker joined forces in 1979 to establish what became Opportunity International.
Today a global microfinance organisation, Opportunity provides financial services (loans, savings) and business training to over 1.9 million people (84% women) in developing countries.
In addition, Opportunity International also provides innovative micro insurance policies to over 1 million people.
In 1992, David Bussau founded Opportunity International UK (initially known as the ‘Opportunity Trust’), based in Oxford.
Today, Opportunity UK both raises and invests funds to help establish and strengthen partner microfinance organisations, advocating for the poor and increasing awareness of microfinance.
Opportunity International Scotland opened in Edinburgh in 2008.
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