Deposit-taking microfinance institution Finca Malawi has affirmed its commitment to continue contributing towards the national financial inclusion agenda.
Finca Malawi Chief Commercial Officer Madalitso Jonazi said this at the launch of a campaign which, he said, affirmed the firm’s commitment to offer clients-centric products.
Dubbed ‘Finca Ikuoneka Kumeneko’, the promotion has been launched along three products aimed at encouraging Malawians to embrace a saving and investing culture.
Finca Malawi has since rejigged its village bank loan facility to offer more values and affordability by reducing its interest rate to 4 percent.
It has also increased the maximum loan amount under the facility to K4 million.
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“These improvements enable village banks, youth groups and small enterprises to access larger and more affordable capital, supporting business expansion creation and improved household incomes,” Jonazi said.
He said this reflected Finca’s belief that access to affordable finance was a key driver of economic empowerment.
According to Jonazi, the firm’s Pamodzi Savings Account, designed for group savings, now provides groups with a secure platform for saving and getting annual earnings.
Through this product, Finca is encouraging a savings culture that promotes financial discipline, resilience and self-reliance among groups and communities.
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It has also facelifted its online transaction platform, Finca Mobile, making it accessible easily.
“Mobile customers can send and receive money across selected commercial banks and pay bills, purchase airtime and data bundles, and conduct transactions conveniently from their mobile phones.
“This service brings banking closer to the people, reduces transaction costs and enhances convenience, especially for customers in remote areas,” he said.
Meanwhile, Finca Malawi was named the Best Microfinance Institution in Malawi at the inaugural Superbrands Awards.
Jonazi said the recognition affirmed the trust Malawians place in Finca “and validates the quality, reliability and impact of our products and services”.
