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National Bank of Malawi brings product for lady entrepreneurs

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By Chimwemwe Mangazi:

National Bank of Malawi (NBM) on Friday launched a product targeting women entrepreneurs, offering them a window to access loans of up to K5 million without collateral.

NBM Chief Executive Officer, Macfussy Kawawa, said the window has been created following requests from clients most of whom said were failing to access funds due to lack of collateral.

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“We know that women have capabilities to do business, but, perhaps, sometimes they are underated and we thought we should give them special attention to serve them better. We have created a web portal through which customers will be sharing information, business ideas and so on,” Kawawa said.

One of the female entrepreneurs at Limu Consulting Agency, Rhoda Ndovie, commended the bank for the initiative.

She said the bank had also been giving them tips on how to run their businesses and approach to systematic records keeping.

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“It has been a challenge for most entrepreneurs to keep records of their businesses but the bank has been orienting us on some of the things required,” Ndovie said.

The product encompasses a savings account package, credit bundle package and an exclusive web portal content.

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