Opportunity International, a next generation microfinance organization that invests philanthropic and social impact capital to spark and scale innovative solutions to global poverty, has entered into a share purchase agreement to sell a majority stake of its microfinance institution in Kinshasa, Democratic Republic of Congo(DRC) to VisionFund International, World Vision's microfinance arm.
Opportunity International will remain a 20 percent shareholder in the DRC microfinance institution and retain one board seat. VisionFund International and Opportunity International intend to focus on significantly expanding operations in and around Kinshasa before considering adding other regions, such as Lubumbashi, Katanga and Gemena. Both VisionFund International and Opportunity International plan to commit additional funding over the next three years to support this expansion. The transaction is subject to customary closing conditions and regulatory approval from the DRC Central Bank.