David Bussau
Encyclopedia
David Bussau AM is a pioneer of microfinance
, having founded Opportunity International Australia and co-founded the Opportunity International
Network. He has been hailed for his innovative approach to solving world poverty
by challenging the conventional wealth distribution model of development
, addressing the root causes of poverty through responsible wealth creation.
himself, David started life in an Anglican boys’ home and launched his business career at the age of 15 with a rented hotdog stand. Twenty years later, and with numerous successful businesses to his credit, he “retired”, having reached what he refers to as the “economics of enough”.
In 1974, answering a call for help, David moved his family to Darwin
and headed up a national movement to assist the victims of Cyclone Tracy
. Soon after, he began aid
work in Indonesia
and eventually endowed a private foundation committed to responsible wealth creation and entrepreneurship, believing this is the best way to alleviate global poverty
.
has been active for over 35 years and Opportunity International Australia currently serves over a million clients and is focused on three main countries: Indonesia
, India
and the Philippines
.
Now retired from Opportunity International
, David continues his work by providing consultancy services to governments, multinationals and other organisations.
sector: chosen by The Bulletin magazine “as one of Australia’s 10 most creative minds”; awarded the Order of Australia
for services to international development; named the Ernst & Young Entrepreneur of the Year 2003 and most recently awarded Senior Australian of the Year
2008.
Microfinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
, having founded Opportunity International Australia and co-founded the Opportunity International
Opportunity International
Opportunity International is an organization that provides small business loans, savings, insurance and training to more than two million people working their way out of poverty in the developing world...
Network. He has been hailed for his innovative approach to solving world poverty
Poverty
Poverty is the lack of a certain amount of material possessions or money. Absolute poverty or destitution is inability to afford basic human needs, which commonly includes clean and fresh water, nutrition, health care, education, clothing and shelter. About 1.7 billion people are estimated to live...
by challenging the conventional wealth distribution model of development
International development
International development or global development is a concept that lacks a universally accepted definition, but it is most used in a holistic and multi-disciplinary context of human development — the development of greater quality of life for humans...
, addressing the root causes of poverty through responsible wealth creation.
Background
A successful entrepreneurEntrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
himself, David started life in an Anglican boys’ home and launched his business career at the age of 15 with a rented hotdog stand. Twenty years later, and with numerous successful businesses to his credit, he “retired”, having reached what he refers to as the “economics of enough”.
In 1974, answering a call for help, David moved his family to Darwin
Darwin, Northern Territory
Darwin is the capital city of the Northern Territory, Australia. Situated on the Timor Sea, Darwin has a population of 127,500, making it by far the largest and most populated city in the sparsely populated Northern Territory, but the least populous of all Australia's capital cities...
and headed up a national movement to assist the victims of Cyclone Tracy
Cyclone Tracy
Cyclone Tracy was a tropical cyclone that devastated the city of Darwin, Northern Territory, Australia, from Christmas Eve to Christmas Day, 1974...
. Soon after, he began aid
Aid
In international relations, aid is a voluntary transfer of resources from one country to another, given at least partly with the objective of benefiting the recipient country....
work in Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
and eventually endowed a private foundation committed to responsible wealth creation and entrepreneurship, believing this is the best way to alleviate global poverty
Poverty
Poverty is the lack of a certain amount of material possessions or money. Absolute poverty or destitution is inability to afford basic human needs, which commonly includes clean and fresh water, nutrition, health care, education, clothing and shelter. About 1.7 billion people are estimated to live...
.
Founding Opportunity International
Challenging conventional thinking that poverty is inevitable and hopeless, David's work illustrates his belief that there are many creative and talented poor people and all they need is an opportunity. Recognising that the key to building any small business is access to credit, Opportunity InternationalOpportunity International
Opportunity International is an organization that provides small business loans, savings, insurance and training to more than two million people working their way out of poverty in the developing world...
has been active for over 35 years and Opportunity International Australia currently serves over a million clients and is focused on three main countries: Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
and the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
.
Now retired from Opportunity International
Opportunity International
Opportunity International is an organization that provides small business loans, savings, insurance and training to more than two million people working their way out of poverty in the developing world...
, David continues his work by providing consultancy services to governments, multinationals and other organisations.
Recognition
David has been recognised for the work he has done in the international developmentInternational development
International development or global development is a concept that lacks a universally accepted definition, but it is most used in a holistic and multi-disciplinary context of human development — the development of greater quality of life for humans...
sector: chosen by The Bulletin magazine “as one of Australia’s 10 most creative minds”; awarded the Order of Australia
Order of Australia
The Order of Australia is an order of chivalry established on 14 February 1975 by Elizabeth II, Queen of Australia, "for the purpose of according recognition to Australian citizens and other persons for achievement or for meritorious service"...
for services to international development; named the Ernst & Young Entrepreneur of the Year 2003 and most recently awarded Senior Australian of the Year
Australian of the Year
Since 1960 the Australian of the Year Award has been part of the celebrations surrounding Australia Day , during which time the award has grown steadily in significance to become Australia’s pre-eminent award. The Australian of the Year announcement has become a very prominent part of the annual...
2008.