National Bank of Malawi disburses K3 billion to women entrepreneurs

By Deogratias Mmana:

National Bank of Malawi (plc) has disbursed loans worth K3 billion to 880 women entrepreneurs under its Amayi Angathe facility.

To qualify, female entrepreneurs are required to open an Amayi Angathe business account with the bank.

NBM Account Relations Manager Monica Zinyemba said on Thursday during a tea party that since 2019, when the Amayi Angathe was launched, the bank has disbursed K3 billion loans to 880 women.

“Women get K5 million loan collateral-free and payable in two years. National Bank wants to grow women entrepreneurs,” Zinyemba said.

She said the bank has developed an information sharing portal for women entrepreneurs to access information and share experiences.

She, however, lamented the effects of the Covid pandemic on most female-led businesses in the past two years.

To avoid business failure, Zinyemba advised women entrepreneurs to, among other things, develop business plans, properly manage resources and effectively market their businesses and products.

Beneficiary Evelyn Chikhazula hailed the bank for the facility.