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Message: [QUOTE="Munyaradzi Mafaro, post: 39780, member: 636"] Select Financial Services bounced back from huge losses last year. The lender earned K3.82 billion in profit after recording K2.63 billion losses during 2023. Government employees turn to this company when traditional banks reject their loan applications. Directors Daniel Dunga and Sean O'Sullivan approved the audited financial statements. The recovery demonstrates the effectiveness of their digital transformation strategy. Gross loan amounts grew 42 percent from K22.3 billion to K31.6 billion. Total revenue increased 36.1 percent from K11.85 billion to K16.12 billion. Careful cost management played a key role in driving the strong results. Company executives adapted quickly to challenging economic conditions. Rural outreach programs attracted many new borrowers. Chief Executive Akuzike Kafwamba launched a fresh regional office in 2025. The Zomba location better serves clients in the Eastern Region. Foreign exchange shortages and inflation continue creating economic pressure. Election uncertainty adds more business challenges ahead. Management stays cautiously optimistic about future performance. The Reserve Bank of Malawi regulates Select Financial as a licensed microfinance institution. The company operates four regional offices across Lilongwe, Blantyre, Zomba, and Mzuzu. Thirty-one satellite branches support these main locations. Select Financial targets underbanked populations who lack access to formal banking. Technology and grassroots presence drive their financial inclusion mission. [/QUOTE]

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