A businessman who left industry for a top job at Oxfam is to head another Oxford-based charity.

Edward Fox has been appointed chief executive of microfinance group Opportunity International UK.

Mr Fox, currently deputy director of Oxfam and formerly a marketing executive at RHM Foods and Associated British Foods, will start his new job on January 2.

He aims to use his marketing experience to help Opportunity expand its work, particularly in Africa.

The organisation offers small loans with low interest to those who would otherwise have no access to banks.

Opportunity International partners also offer savings and insurance, training and advice.

Mr Fox said: "I'm very excited by the challenge. I aim to make Opportunity International as well known as Oxfam."

He said the economist who pioneered the micro-finance idea, Muammad Yunus, had recently won the Nobel Peace Prize.

"People have suddenly realised that it's a good way of tackling poverty," he said.

"Lending microloans to people is good for their self esteem. And of course the money can be used again and again.

"The buzz word with charities now is accountability - and Opportunity can really account for where its money is being spent."

The network helps 800,000 poor entrepreneurs, mainly women, in 27 developing countries. During his three years at Oxfam, Mr Fox was responsible for doubling its fundraising income and presided over the launch of Oxfam Unwrapped.

The scheme enables people to give Christmas presents such as goats and chickens - the recipient gets a card and fridge magnet, while the rest of the money goes towards livestock in a developing country.

John Ford, chairman of Opportunity, said: "Microfinance is an idea whose time has come.

"Not enough people in the UK understand the power of microfinance to have a lasting impact in the fight against global poverty.

"Edward, with his drive, his passion and his wealth of experience is ideally placed to change this."