MESSAGE FROM Win (Clo) Dear Friends et marks an important milestone in the history of Opportunt ond Leans Limited national Saving sector that Is constanty and rapid evernent. We should be proud to have More importantly we have done so on tment, Hurilty, Res on (CHRIST) claimed our rightful posto ity, St Im wardship and Transforma ISL was borne 2 ofthis mi os: active poor in our society. The irportan ssion art of nal. This Education re that provides IT 4 of IT at OSL ily ns, tis worth noting that 6 f nal andl Global Teams in Opportunity Intemat the Africa Regional Head of HR. Rt The Head of T Share port to all Afican 1 Aditionaty, our forme appointed fohead the sak uncon in Opportunity ORC. ported as Senior Fi appointed to repr Opportunty Partners (Global Board of Opportunity International. O1SUS wah and marked improvement in all indi oan partolio was GHS 24 7nillion. deg GHS 223milion, total loan clients 41470 and total deposit clonts iors AS at Barely four years iter, as al September 30th, 2014, our / portfollahhad increased to GHS 90.5 milion 266% growth From 010}, epost balances GHS 75 milion 236% rise), total joan clients ‘are now 78.059 th) and total d 392.642 (4 We fave etwotk from 3 in 2004 to 40 outlets all and breadth of th wes ke every typical very turbulent. High staff morale. and lower client re over, low productivity ere key chara negatively on jontion ates years whi indicators loan ane quality, and profitably. These developments insigniicantred th hard ‘Some of th as patt of anniversary celebration included: oun clk of all stakeholders and frontines and th backrooms unity what itis today. The ursung ° thinking, praying and working f Opportun -knawwlecige our past CEOs Benjami , David Smit smus Ki Chairman, Mr His belle in our guide Us unnoticed. For al our pastand present Board Member ‘ally, we thank Rev. Dr. Kwabena 0 ‘st Board Chairman for setting up th ‘and Loans on the glo We also Bank of Ghana over the years. the Opportunity international Instuutons. has been an inspie ved from our itor rmptete without righiightin al clearing banks and who have pro appreciate you 55, this fthout your Thank you for being with setbacks we have been thr there is sla great achieve our dream off herished client nd partners collaboratively tc fg | milion by 2020. Fralty, on beat al for your enthusiasin and je thanks andl glory to that together we wil the greater go ing imillon cl \e management and staff, | in s OF tinue andieadine is in 2020IRTUNITY INTERNATIO NAL SAVINGS WHO WE AR COppertunity Intemational Savngs and Loans Limited (Opportunity International) is a leading savings and loans Institution in Ghana, Opportunity international Is at thé forefront of delivering transformational financial services to Felp transform of clients. 20 It. was licensed by the Bank of Ghana in Junk 14 and begs Septem operations as @ 2004 ns Limited savings loans Opportunity International Saving Implementing partner of Opportunity international sine its key activitie excluded from mainstream banking. It operates. its Inception, ortunity Internat nal has focused con the marginalised, the poor and those busi profitable premium their capacity. Opportunity Intemational provides sound tion using the individual ending while promoting a savings culture by dey prod small 5 model that Is not only transformational, but also and very fast-growing. It places n understanding the needs of its clients sustainab) financial educ to innovative nd support sit ntermational assists micto, ‘and medium size businesses which form the backbone of most developing ;conemies In 2009, th sled Its credit portfolio to provide financial services to small holder company ai armers, agrc businesses and entrepreneurs in the agro value chain, To achieve this, Opportunity Intern various specialists in extension services delivery and of \g on technolo. hanalan farmer through high yield and thus 2018 Itintreduced housing loans for the micro segmer of the population and empowerment loan for the disabled otiety, Opportunity International has 40 Outlets across the country. As of September 2014, the institution has about 400,000 clients of whom 78,000 are Loan clients, With @ Loan Portfollo of neaily GHS 90,500,000 and Deposit Balance of ever GHS 75,100,000. Opportunity International Is one of the largest savings and loans companies in the country. It has won several awards Including Best Social Performance Management Commitment to Professionalism in Microfinance Indust. and Pillars of Microfinance Opportunity International attributes its achievements to It embedded values coupled with the highly trained, committed and skilled employees. it makes significant Investment in the training and professional development of its staff. Further It provides a friendly and an enabling environment for its staff to thrive and achieve. Opportunity Intemational derives its sustainable competitiv advantage through its quility staff. Opportunity values the commitment to serve the economically disadvantaged while exhibiting huey respect, Integrity to one another and to cur customers, good stewardship of resources. The bottom ine Is thatlives are transformed for the better raging on technelogy, Opportunity International s. This n able to maxi ional efficier .en dane in conjunction with branch network comprising 40 brick Mobile Vans, 14 Automated Teller Machines (ATM: several Point of Sale (POS) devices located length and breedth of Ghana, E-zwich, MTN. Mobile Money, Money Gram and Western Union are aso part of the technological arsenal which assists our cllents and stakeholder from one locaton to in transferring mor the oth ur value-based transformational banking, good customer service and unique product line sets us apart from our ompetitors. Client satisfaction Is at the centre of all that we do. Opportunity wishes to ackni hem of our hot only towards the growth of their businesses, bu also to their personal development in the area of Financial Literacy. We alm to continue to design Innovative product: our clients. ledge the supy lis of clients. and assure continued commitment to meet the financial needs ofPORTUNITY INTERNATIONAL SAVINGS AN (On the occasion of its 10th anniversary, Oppo rity tue to ts commitment to bullding strong munities in which It operates supporting the communities with Financial Literacy ning. savings cutture in the c by Opportunity Is also a member of Ghana Microfinan Network (GHAMFIN) and Ghana Association s ompanies (GHASAL Savings and Loans (Our vision Is a world In which all people have the opportunity to achieve a life free from poverty, with dignity and purpose. By providing fi empower people transform their liv iclal_ solutions and training, we ticularly those living in poverty to their children’s futures and their communities nitment + Humility ect + Integrity + Stewardship + Transformation HAT WE With a deep appreciation of the banking needs of ‘the underprivileged entrepreneur, Opportunity makes available to our dients a range of products and services such as: + Channels of savings for the less privileged + Transformational loans far the less privileged + SME loans for business growth + Funds transfer + Business train! + Micro insurance + Mobile banking for rural outreac + Ebanking products and penetration LOANS LOANS: Group Loans, Individual Loans, Adehye Loans, Susu L Edufinence, Education Loan: Opportunity Access for Learning (GOAL) Student's Loans, Agric Loans, Church Loans, \S and Ahoto Housing Loans. salary at, Current Susu Savings, Agro fe Micro Insurance, Western Union Money Transfer, Money Gram, MTN Mobile Money, E-zwich and€-banking produc Opportunity’s praducts and services are built upon our e values and are specifically tallored to meet t Needs of our clients. Opportunity has welltrained and dedicated staff who express them through the way uphold our value: they interact with our clien , Tes + Becoming a sustainable provider of financial rvices to small and micro entrepreneurs inthe ural and urban areas of Ghana: + Becomi poverty allev micro enterprise stimulation and wealth creation among the less privilege + Becoming a leader in the microfinanc In Ghana and the African continent in terms o clients-oriented products and services, outreach Impact and sustainability Opportunity delights in the truth and gives God all theMILESTONES Pena ir ac A Rec eeINY CTR CS ol Ce Reo eines Se eels + The first to introduce Mobile Van or Sie Roan it Ne MeCN) 2010 CUCM Cone OMe Leelee RUD Biometric Identification System (BIDS) Pana aCe orem uecl Stitt} Cova Ce ee) MicroEnsure Cen Mena nna a RR Ca eon Comme RC aa) 2013 + The first to introduce a Cinema Van for aoe Neocles} a ogee aa care Soo mt Nami eR reel aee! es Co LM Moco elu LCe POM ena ester een el Osea Neem seers 9 ER elie tele Soa reac = a) to oe Sn a Euan ese awarded by OlkoCredit + ‘Commitment to MFI Professionalization (Cll Nk SA ee Tod Recognition Awards, + A recent Comparative and Statistics report issued out by the Ghana Interbank Pea Case ees en ens) Sea Mes mares einen) Pee eae AN ote Sue Ce Ret atT Scam oem Mey cd ERE SeD eet mean acer teas + OISL was selected to represent Aftica Cc cero tos eee eee mcr ca een ene ny two professors and the CEO of Basix in ite EM ata eel tae eM ola La Od Peano nec R eeOPPORTUNITY GLOBAL NETWORK MAP eee kel nee SP ee a ee og De UEU MS ia cee EUROPE“| want my story to serveas a motivation MARY'S STORY Mary and her children were plunged into poverty when the husband died in 2009. Until she vias Introduced to Opportunity International micro loans. Mary was retailing Second hand clothes which was supplied to her by her husband, because she did not, have a working capital of her own, The demise of her husband posed a serious challenge to the business and she could not afford to buy enough stock from the wholesalers, In August 2010, Mary was introduced 10 the Opportunity Intemational group loan scheme that enabled her to access her first loan amount of GHS450. She used a portion of it (GHS200) to pay 3 years rent advance for a metal container which she used for her sewing business, while investing the rest In her 2nd hand clothing business The uniqueness of her products soon caught the ailention of the local entrepreneurs who purchased her goods for export. At this point Mary was convinced about the new business prospects so she pooled resources to build her own block store and moved her business from the rented container to the built store which had enough space to showcase more of her products. Mary Is now in her 6th loan cycle, having graduated into individual (Adehye) loan cient. Her shop has expanded to Include the sale of Imported dresses, second hand clothes and her ovin locally-made products. Mary has started a residential project and she believes In 2 years’ time she will live in her own house, a dream she had long cherished. “I want my story to serve asa motivation and a guide not only to widows who are often victims of poverty but to all who desire to fight poverty with the help of God’ Mary believes God used Opportunity to turn her life around end she encourages all in similar situations as her previous one to seize the opportunity without delay.“With OISL’s support and assistance, what | planned to chieve In 10 years has become a reality in 3 years. This was the heartcry of Mr. Joseph Azuma a physically-challenged client of OISL’s Edufinance Package. When the Rural Bank turned down his request for a loan to develop the faclities of Winners School, Joseph Azuma thought that it will take him 10 years to start a block classroom structure until he was Introduced to Opportunity as a deposit chent. He did not envision that the relationship was going to catalyze the arowth of Winners School and help him realize his dream in such a short time. Joseph Azuma became crippled at the age of fout (4), after receiving a vaccine for measles. Since father's meager Income could only atford to keep one child in school ata time, the children without disability had the priorty in tums to the neglect of poor Joseph Joseph tutned 17 years without any formal education, which his father Justiied with the explanation that he did not want him bullied. Joseph resigned hinseff to fate and occupied himself with cats rearing and so had lots of cats. As fate would have ft, It occurred to him one day that he could sell off some of his numerous cats and start schooling. He was enrolled as a class 1 pupil at age 17 and he had to be determined and persistent to survive several challenges akin to people of his condition. His determination paid off and his brillant performance gained him unprecedented promotions and the assistance of some dedicsted teachers who offered him extra tuition. He completed Primary 6 within tee years. Eventually Joseph passed the Basic Education Certificate Examination (BECE) and continued to Senior High School (SHS) with support from his parents, siblings and income from his parttime petty barbering business, Things became tougher after SHS when his search for employment proved futile Depressed and contused, Joseph decided to engage In teaching his 2 younger siblings et home, under a coconut trae, The news on their improved performance caused other children from the Neighborhood to join the class at a fee and this was the genesis of the Winners’ School. As the population Increased, a neighbor offered an abandoned piece of land where Joseph put up a two-classroom wooden structure to start a school. A staff from OISL advised him to have a savings account for the school and having run the account for three years he received his first loan amount of GHS1200.00 which he used to support the school canteen, His second loan amount of GHS4000.00 enabled him to put up a 4-classroom cement block structure. Today Joseph is repaying a loan amount of GHS 5000.00 and he can boast of a walled 6 black classrooms with a total of 58 pupils, 10 staff members, and an office. The Winners School runs trom Nursery to Primary Class 6 and he has plans to start Junior High School next academic year, He Is blessed with a wife and three children,‘Samuel Afful (CFO), Vivian Mottey (Head, Transformation), Kwame Owusu-Boateng (CEO), Abena Aboagyewaa Nsiah lorena eNews) Vicior Ofel (Head, |.7}, Brian Bannerman (Head, Risk), Victor Acquah (Head, Auctt) Theodore Albright (Head, Legal), Patrick Kye! (Head, Marketing), Ebenezer Cofie-Baldoo (Head, HR) Board & Executive TeamYour World Gets Better By Change. OPPORTUNITY International Wed BROMO Ln a eel Tea Rien Rem my mol ewe OM NxM ord ¢ 0573 233 134 www.opportunityghana.comI'm proud to share our dynamic new Opporturity International logo with you. Our new look represents the Opportunity International global brand and highlights our renewed, unified commitment to finding new and better ways to help clients work their way out of poverty, transform their lives and strengthen their families and communities. Our new logo conveys a vsual Identity that is recognizable, modern, innovative and bold. it symbolizes our work around the world, the cycle of Investment and reinvestment, and the people we serve. Its vibrant colors represent the diversity of the commur ies and cultures we serve. The open ciccle reinforces the inclusive nature of our services, our clients’ forward momentum and represents Opportunity International, together with you, supporting our clients determined efforts to lift themselves from a live of poverty. The blue ignition point signifies a human figure in forward motion at the start of transformation, as well as an ‘? for international, To cteate the logo, we conducted donor and employee research to determine how the organization's brand is percelved around the globe. Simply put, our brand represents a promise to our 10 clients,donors, partners and other key stakeholders that helps shape their perceptions and expectations. People want to know what we stand for and ensure we are aligned with jem in our goals and mission. See our new dynamic logo and explore our strong new brand by visiting our redesigned website: opportunity.org (Our new look marks an exciting new chapter in the history of Opportunity Intemational. Together, we will continue expanding our services to help even more people in need around the world. Thank you for your invaluable support. Blessings, ete f3caua_SAVINGS PRODUCTS Savings Insurance Account ‘An Interest bearing account for you to deposit cash and withdraw anytime without notice + Minimum opening amount is GH¢10.00 + Eam interest on balance over GH¢ 200.00 + Monthly minimum balance of Gh¢50.00 will quality you for insurance. Agro Saver Account ‘An income management account for farmers and liregular businesses. Minimum amount to open is GH¢360.00 Current Account A demand deposit account for you to deposit and withdraw cash anytime without notice. + Minimum opening omount is GH¢20.00 + We give you personalized cheque book Susu Deposit A dally savings account for customers who do not have time to come to the bank. Our deposit mobilisa- tion officers walk to your doorsteps to collect your dally savings. + Minimum daily contribution of GH¢ 100 + Flexible withdrawal options + Opportunity to access our loan products Fixed Term Deposit A fixed interest bearing account for a prescribed petiod. + Minimum amaunt of GHe500.00 + You earn compettive interest rates. Why save with us + Your savings are safe in our hands + Biometric identification System (BIDS) provides total safety of your accounts. Simple Account Opening Requirement You earn competitive interest on your savings Excellent customer service delivery ‘Opportunity to access our loan products Collateral is nota requirement for micro loans LOANS PRODUCTS Group Loans Loans for groups of micro entrepreneurs for business ‘expansion + No collateral required + Access to free training in financial literacy, + Leadership and community development etc + Group guarantee required. 1PRODUCTS continued ‘Adehye Group Loans Loans for loyal group loan clients in 5th cycle and beyond who want to maintain thelr group Adehye Individual Loans Loans for loyal group loan clients migrating to Individual loans + Maximum loan of GH¢5,000.00 + No collateral and guarantor required Individual Loans Working capital for individual business expansion + Minimum Loan of GH¢500.00 + Maximum reoayment period of 2 months + Guarantor Is required Susu Loans Loans for susu depostt clients after a required period of contribution + Repay with smal! amount on daily basis ‘Small and Medium Enterprise (SME) Loans Working capital for Small and Medium Scale entrepreneurs + Minimum Loan of GH¢ 10,000.00 + Maximum reoayment period of 36 months eu Finance Short and medium term finance for private schools. + Maximum repayment period of 36 months Education Loans Loans for payment of ward's school fees and related expenses. Clients in Sth cycle and above do not need guarantors) If the amount is not more than GHe1000.00 Empowerment Loans Loans for the disabled at concessionary rate. Goal Student Loans Loans to assist tertiary students with payment of school fees and related expenses. Agric Micro and SME Loars Micro, small and medium scale finance for farming and agrie related businesses such as_Itrigation, agro - marketing and processing, agro-implement ang transport. 12 Salary Loans Short and medium term finance for salaried workers, Maximum repayment period of 36 months Church Loans A short and medium term loans to assist in church development. Maxmum repayment period of 36 months Ahoto Housing Loans Housing loans for smell and medium scale entrepreneurs, farmars and saleried workers. There are two main types: Home Improvement and Building In Stages Loans, Why take a loan from us + Simple repayment schedule + No collateral for some loans + Competitive interest rates + Free financial feracy training Register and enjoy Obrapa insurance on loans. Claims can be made on property destruction, permanent disability, hospitalization etc. Account Opening Requirement Personal Account + 2 passport photographs (some branches provide at no cost) + Voter ID, Driver license, passport, NHIS, National ID Card (NIC) + Ublity bill (e.g. electricity, water, telepnone), tenancy agreement or ather proof of address Company Account + Allthe above and the following: + Cortificate of registration and details of owner (Form ‘A) for sole proprietors Certificate of incorporation and certficate to commence business for limited liability companies, Services Mobile Banking MTN Mobile Money E-zwich POS E-zwich ATM (At selected branches only) Western Union Money Transfer Money GramEducation Transformationil | on a) I a Hi Wit é ne it a VMEntrepreneurSTATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER Interest income Interest expense Netinterest ‘Other operating income ther income ding and other income Total operating income Impairment los on financial assets Personnel expenses Occupancy costs Depreciation and amortization Other exoenses Prom betore Income tax Taxation Prof after tax attributable to equity holders of the Company Other compreherisive i et oftax Total comprehenste income attritutabie to equity holgers of the Company Earrings per share Basic & Diluted 2012 He 3674055 eis288) “a55eS41) 3785338 30,369,066 (2,688,288) (2,047,715) (17346,015) (13,703,141) aries (195430) (2,465,155) (1,947,044) 00173.925), +(7.764,60), 96837 27876 ie6s7665) e758)STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER The nancial statements were approved by the Board of Directors on 28 March 2014 and signed on its 2013 Assets cHe ce Cash and cash equivalents 6708.59 6.693293 Investment securites 8500017 12,583,246 Due from related party 1181446 : Loans to customers 98996675 53,861794 Current tax asset 184301 = Property and equipment 9806398 7,003.639 Imangible assets 1320262 162,176 Doforredi tax aczote 153105 i615 other assets 3409794 3.616.851 Total jooz60867 — 85.457.714 Liabilities Customers deposts: 61203478 49.473897 Bank overdraft 14209 Borrowings 14929303 12,507,232 Grants 1390864 2.254.564 Current tx labilty 792,143 ‘Other Haoities 2aie9o1 3735423 Total Habiites 79940636 68.77.4688 Equity Stated capital 14594501 19,704,047 Statutory reserve: 3753253 2.451977 Credit risk reserve 925218 649,757 Other reserve 612305 385,396 Retained earnings 494289 (630931) Total Equity 20320251 16,720246 Total equity and tabi yoo260387 as4a7.714 behaif ty Rey . Dr. Kwabena Daiko Maria Koremoa han. ¢ Ses DIRECTOR DIRECTORSTATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER GHe GHe Proft before tax 3.468317 3711576 ‘Aajustinents fc Dep 2.465155 1947,044 Net impatment lo 2688288 2047.75 Net interest incom (1700902) (26,810,125) Profit on disposal of property equipment 05) 2.019) Deferred grants released to income (1389,56) (683.656) Unrealised exchange gains 644607) 309.089) Assets wits off 56545 (25957.085) (20.048554) investment securities 3057790 (6.242820) Loare to customers (16183,420) (5,001482 Other assets 89,595 2.4885} Due from related party e446) ‘Cliseriies cepaets 1729581 15469.487 ‘Other labiities daiavsa) 921973 (28263297 7,296,327) interest received 35636152 29,480,952 interest paid (2935.250) 2.670827) Taxes pad (1978381) 100068) Net cash flow fram operating activties 859,224 138627) Cash flow from inves ‘Acquisition of property and equipment (3.228236) Proceeds from! of property and equiament 52,019 Acquisition of ntangible assets 1.044998) Net cash flow used in investing actuities (6:022,860) an) Financing activties Net proceedsirepaymerts)fronvic| borrowings Grants recewved 398.928 636,632 Proceeds trom issue of shares 473478 e11569 Net cash flows from fnancing activties aami900) 64.397 Net increase in cash and cash equvaients 1331696) 25608n 8865994 6,005,083, Cash and cash equvalerts at31 December 7734298 as6s994 Cash and cash equivalents ash andbank balences 6.693.393 Investment secure 1985,210 Bank overdraft - (14208) Cash and cash equvalerts at31 Decembe: 7734298 asesaa4INDEPENDENT AUDITOR'S REPORT To the shareholders of Opportunity International Savings and Loans Limited The accompanying statements of fhancial postion, comprehensive income and cash flows are datived from the financial statements of Opportunity hterrational Savings and Loans Limited for he year ended 31, December Weoxpressed an unmorktied opinion ch the financial statements in our report cated 28 March 2014 Tho accompanying ststemerts of financial pastion, comprehensive Incame and cash flows da not contan all tho disclosures required by International Financial Reporting Standards and inthe mannar required by the Companies Act ‘9 Ghana 1963, (Act 170) and the Banking Act of Ghana 2004, 673) as amended by the Barking Amendment Act of Ghana 2007, Act 738) applied in the preperation of the aucited financial stalements ofthe Company, Reading the accompanying statemerts of inancial postion, comprehensive income and cash flows, therefore, Is nota aubstiate for reading theauted fhancial statements ofthe Comoany In our opinion, the secompanying statements of fan In all materia respects, with the audited financial tate forthe yeer end KK Pam Signed by Nethanie! D. Hatley (CAGP/OS6) For and en behalf of KPMG, (CAG/0036) CHARTERED ACCOUNT ANTS 1 YIIWADRVE, ABELENKPE POBOX GP 242 ACCRA 2eth March, 2004 sition, comprehensive Income and cashflows are consistent, nents of Opportunity Intemational Savings ard Loans Umited 131 December 2013, om which they were derived NOTES FORM! 1. Reparting entty Opportunity temational Savings and Loans Limited (he Compary) (6a limited labilty company Incorporated in Ghana. The address ofthe Company's reglstered office isNo. D76S/3 Kwame Nkrumah Avenue, P. O. Box JT 3: ‘Accra, The Company is a subsislary of Opportunity Transformation Investments, USA, The principal activi carrlad out by he campany include the provision of micro finance facies in the form otloans tothe general pubic, withthe emphasis on lending to those in soctety wih imted incomes whe would not ordinatily qualify fora lean from a traditional bank. The Company also accepts deposits cf various types including current accounts, savings accounts anid enters into Contracts for xed deposits Basis of Preperation The nancial statements have been prepared in accordance witn international Financial Reporting Stancaras (ERS), the Companies Code, 1963 (Act 179), and the Banking Act, 2004 Act 673) as amended bythe Bankng ‘Amendment Aet, 2007 (Act 738) Signiteant Accounting ‘The detailed accounting policies which form patt ofthe annual financial statements and have been consistently appled, are presented inthe financial statement ofthe Company’ 4, Quantitative Disclosure 2018 1) Nor-pertorming team (NPL) ratio. 420% 1) Capital adequacy ratio. 14.90% 15.87% MW) Contingencies and commitments (GHS) 06am aM My Social resporsibilty and obligations (GHS) 0.034 oom 22ADDRESS, LOCATION AND TELEPHONE NUMBERS OF OUR BRANCHES IN GHANA LOCATION TELEPHONE