Impact News Spring 2011

spring 2011

Celebrating 40 years Opportunity International was founded in 1971 by two visionary leaders who were inspired to take action by their experiences with people living in extreme poverty. American Al Whittaker, former president of Bristol Myers International, Inc., and Australian entrepreneur David Bussau sought a solution that would transform people’s lives without creating dependency. Since Opportunity had only a handful of financial supporters in the early days, Al and Marion Whittaker used over 90 percent of their net worth to fund the organization. “It’s a wonderful legacy that has meant so much to our children and our grandchildren over the years,” said their son, Don Whittaker, a Chicago-area attorney and longtime Opportunity supporter. To honor their legacy, consider becoming a charter member of the Whittaker Legacy Partners (see page 4).

Join our celebration Throughout the year, we’ll provide you with a variety of ways to get involved in our 40th anniversary celebration. Here are a few to get you started: • Launch a 40th anniversary fundraiser online • Give a $40 gift card this Mother’s Day • Invite 40 friends to sign up for our blog or ‘Like’ us on Facebook • Pray for our work for 40 days

Client Ama Kobi (left) with Opportunity Ghana Loan Officer Sylvia Danso Abeam

Securing titles, improving homes No matter where you live, security means having a roof over your head and a floor beneath your feet. If you own the land on which you live, your sense of security increases exponentially. But such peace of mind eludes the great majority of our clients. Most of the world’s poor, in fact, hold title only informally to land that has been in their family for generations. Renowned economist Dr. Hernando de Soto proposes in his book, The Mystery of Capital, that by moving land ownership from the informal to the formal sector, people can take an important step forward in wealth accumulation. When people are confident that they will not suddenly be dispossessed, they are more inclined to make long-term investments, such as extending the family home or buying a new plow. It’s not just the lack of formal title, however, that keeps security out of reach for clients, but the lack of capital to improve their homes. “Clients try to use their business loans for their homes, and then their business suffers,” says Opportunity Ghana Loan Officer Sylvia Danso Abeam. “It stretches their finances too much. And if they don’t have a good house to live in, they don’t have the security they need in order to manage their businesses well. The two go hand in hand.” Now a $1.2 million grant from USAID is enabling Opportunity International to promote property rights and pilot a home improvement loan program for clients in Ghana. Working with International Land Systems, Opportunity is putting together “property folios” so that clients can prove they have secure land tenure, and won’t have it taken away. The property folios consist of land surveys, field data collection, and community confirmation of property rights. During the start-up phase, target clients are members of established Trust Groups or proven individual loan clients. “Our hope is that, by working with the Ghanaian government, our clients will eventually be able to get formal title to their land,” says Makonen Getu, Opportunity vice president, international business development, who oversees the program. “As the project ramps (continued on page 4)