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Bankers Association of Malawi to enhance financial inclusion

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Banks are planning to discuss strategies which they can follow to enhance the financial inclusion agenda during this year’s Bankers Association of Malawi (BAM) annual dinner and dance to be held on Friday at Mount Soche Hotel in Blantyre.

Malawi is targeting to get at least 30 percent of the population having access to financial services. The banked population now stands at 19 percent.

BAM Chief Executive Officer, Lyness Nkungula, said while the Association has been implementing various interventions to improve the figure, more work still needs to be done.

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“We have seen banks coming up with several innovations to entice the unbanked population, especially in rural areas to open bank accounts and encourage them to be part of the bankable population,” she said.

At the event, the bankers will also recognise students who have done well in their banking studies. The dinner and dance will also act as networking platform for professionals in the sector.

“The event is an opportunity for employees to interact and bond but at the same time reflect on the country’s economic issues,” she said.

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