A microlender called FINCA Malawi is kicking off a big new push for customers. Their chief commercial officer, Madalitso Jonazi, said the "FINCA Ikoneka Kumeneko" effort aims to help folks and businesses dealing with high prices and tight credit. They are tweaking a key loan product for small entrepreneurs, lowering its interest rate to four percent. They also raised the maximum loan amount to four million kwacha.
The campaign highlights a savings product named Pamodzi that pays up to eight percent interest a year. They are also pushing a digital tool called FINCA Mobile for sending money and paying bills, like water utilities. Jonazi stated their main goal is to include people usually shut out from normal banks. He mentioned a recent award naming them the best microfinance outfit in the country as proof that people trust them.
The campaign highlights a savings product named Pamodzi that pays up to eight percent interest a year. They are also pushing a digital tool called FINCA Mobile for sending money and paying bills, like water utilities. Jonazi stated their main goal is to include people usually shut out from normal banks. He mentioned a recent award naming them the best microfinance outfit in the country as proof that people trust them.
