By Mike Mataka:
In its quest to enhance financial inclusion in the country, TNM Mpamba Limited has partnered with Finca Malawi to provide a convenient savings and loans product dubbed Mpamba Pasavute.
Mpamba Pasavute is a mobile money product that allows customers to save money using their mobile phones and acquire a microloan based on their scoring.
TNM Mpamba Limited General Manager, Chikhulupiliro Mphatso said unveiling of the product is an indication of the company’s serious drive to make financial inclusion a reality.
“This new offering is part of our journey to grow the mobile money ecosystem, facilitate availability of liquidity in these harsh times and reduce physical handling of cash in view of risks of Covid-19 transmission. Mpamba Pasavute represents a convenient and smart financial platform available 24/7 at our customers’ fingertips,” Mphatso said.
Mpamba Pasavute offers competitive interests on savings, quick access of loans and zero transactional charges when moving money between MpambaPasavute and Mpamba wallets.
Finca Malawi Head of Mobile and Digital Business, Daniel Makata said the product is designed to offer a holistic and easily accessible savings and loan product to customers.
“At Finca, we strive to improve the social economic status of Micro, Small and Medium-Size Enterprises. This mobile money product underscores our continued efforts to broaden the finance products and services,” Makata said.
Finca Malawi is a licensed deposit taking microfinance institution that currently serves its customers across 22 branches and a growing agency banking network across Malawi.
TNM Mpamba Limited is a digital financial services provider which started its operation in 2013.
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