National Bank of Malawi (NBM) has disbursed over K5 billion through its ‘Amayi Angathe’ loan product, the bank’s Head of Retail Banking Division, Oswin Kasunda, has revealed.
Kasunda announced this on Tuesday in Mangochi during a customer engagement session with women.
He highlighted that the women’s uptake of the loan product, which was launched in 2019, demonstrates their strong satisfaction.
“This initiative has significantly contributed to financial inclusion by enabling women to access loans without the need for collateral, which is a requirement in traditional banking,” said Kasunda.
One of the beneficiaries, a Fashion Designer, Chisomo Pota Masache, expressed gratitude to the bank for easing the financial challenges faced by female entrepreneurs.
However, Masache urged the bank to review the maximum loan limit, which is currently set at K7 million.
She suggested increasing it to K15 million, citing the impact of currency devaluation on business operations.
Amayi Angathe loan offering is part of NBM’s commitment to empowering women and fostering inclusive economic growth.
By Miriam Kaliza
