Select Financial Services urged government partnership to protect credit access as inflation strains Malawian households and enterprises. Chief Executive Akuzike Kafwamba said the lender spent 17 years serving clients excluded from conventional banks and helps families weather economic instability through practical borrowing options.
Finance lecturer Richard Tembo from Millennium University said regulators create stability frameworks while microfinance providers deliver services directly to citizens. Coordination between both sectors strengthens consumer protections and financial education programs that promote responsible lending practices across communities.
Kafwamba pressed lawmakers to reduce access barriers and encourage innovation through supportive regulations. The institution operates branches across all four regions and is part of the Select Africa Group, which offers microfinance products in Lesotho, Eswatini, Kenya, Uganda, and Namibia.
Finance lecturer Richard Tembo from Millennium University said regulators create stability frameworks while microfinance providers deliver services directly to citizens. Coordination between both sectors strengthens consumer protections and financial education programs that promote responsible lending practices across communities.
Kafwamba pressed lawmakers to reduce access barriers and encourage innovation through supportive regulations. The institution operates branches across all four regions and is part of the Select Africa Group, which offers microfinance products in Lesotho, Eswatini, Kenya, Uganda, and Namibia.
