On Friday 28th June, National Bank of Malawi (NBM) birthed a product that targets women entrepreneurs, offering them a window to access loans of up to K5 million, without collateral. NBM Chief Executive Officer, Macfussy Kawawa acknowledged that among women that have capabilities to do business, lack of financial resources is a common hinderance.
“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 beneficiaries of the loans told The Daily Times newpaper that the bank is tipping the women on how to run their businesses, as well as approach to systematic records keeping. Meanwhile, National Bank of Malawi announced that a new branch will be opened in Dwangwa, to serve customers within this part of the lake shore area. This news was confirmed by NBM Chief Executive Officer MacFussy Kawawa, saying during the donation of 152 desks at Nkhotakota Secondary School.