By Alexander Juma, a Contributor
National Bank of Malawi (NBM) Plc’s ‘Amayi Angathe’ loan, a facility specifically designed to support women entrepreneurs, has benefited more than 2880 business women since its inception in 2019.
The bank’s business development manager, Wyson Kayira disclosed this in his presentation at the celebration of International Women’s Day in Blantyre last week.
NBM plc hosted a Tea Party to numerous women who have benefited from the ‘Amayi Angathe’ product that specifically targets women entrepreneurs in need of financial support to grow their businesses.
“The loan helps in the economic development of the country by bringing in sectors that have never been part of the financial service industry before. The loan product offers competitive interest rates, flexible repayment terms, and customized loan amounts based on the individual business needs of the borrower.”
“The product also provides mentorship and training to help women entrepreneurs succeed in their businesses. National Bank of Malawi’s ‘Amayi Angathe’ product seeks to address these challenges and empower women entrepreneurs to succeed,” said Kayira.
Fawzia Gilbert, who is one of the beneficiaries of the loan, encouraged fellow women not to be afraid of getting a loan from the bank.
“The loan from NBM plc of ‘Amayi Angathe’ does not require collateral and it does not take long to get it and women can do anything men can. Let me just urge all the women to be getting loans with the purpose of growing their businesses and not for enjoyment. You cannot get a loan to buy an air ticket to go outside the country to enjoy. As for me, I got the loan to grow my school business where I bought desks and built other blocks,” she said.
During the event, women were also engaged in business and financial management sessions.
In Malawi, this year’s Women Day was celebrated on March 8 under the theme “DigitALL: Innovation and technology for gender equality”.