Reserve Bank of Malawi Deputy Governor for Economics and Regulations Henry Mathanga has said connecting academic research with the financial sector is critical for growth and development.
He was speaking recently in Blantyre during a prize presentation to winners of the inaugural CreditData Credit Reference Bureau (CRB) Research Redefined Research Challenge.
The competition was aimed at advancing financial inclusion through practical academic research among university students.
Mathanga said the drive speaks directly to efforts by the central bank in championing national financial inclusion strategies aimed at increasing adult financial inclusion to 95 percent, in line with the Malawi 2063 blueprint.
“The competition highlights the role of research as a bridge between academia and economic development in Malawi,” he said.
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Mathanga said credit referencing in Malawi has since become a key pillar in credit underwriting and financial stability.
Students from the Malawi University of Business and Applied Sciences (Mubas) emerged overall winners in the research challenge.
The competition was aimed at advancing financial inclusion through practical academic research among university students.
CreditData CRB Board Director George Chavula said the initiative was designed to recognise and reward outstanding research that offers practical solutions to Malawi’s financial inclusion challenges.
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“The competition seeks to enhance financial literacy and practical capabilities by encouraging students to explore innovative ideas that will advance industry practices and support a knowledge-based economy,” he said.
The challenge targeted commerce students from accredited institutions, with participants drawn from the Malawi College of Accountancy, Blantyre International University, the Catholic University of Malawi and Mubas.
The winners shared K3 million in prize money and will also be offered office internships as part of their awards.
Chavula said CreditData CRB plays a critical role in collecting, storing and sharing credit information to support responsible lending and a sound financial system, noting that the initiative aligns with the national credit reporting policy and financial inclusion objectives.
