Over 2, 880 women entrepreneurs have benefited from National Bank of Malawi (NBM) Plc’s ‘Amayi Angathe’ loan since its launch in 2019.
The loan facility, designed to support women entrepreneurs, offers competitive interest rates, flexible repayment terms, and customized loan amounts based on the individual business needs of the borrower.
According to NBM’s Business Development Manager, Wyson Kayira, the loan product offers mentorship and training to help women entrepreneurs succeed in their businesses, and aims to empower women to succeed.
“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, a beneficiary of the loan, encouraged fellow women not to be afraid of getting a loan from the bank, adding that the loan from NBM does not require collateral 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.
In addition to the loan facility, NBM also provides women entrepreneurs with mentorship and training to help them succeed in their businesses.
The bank hosted a Tea Party for numerous women who have benefited from the ‘Amayi Angathe’ product, and engaged them in business and financial management sessions.
This year’s Women Day in Malawi was celebrated on March 8 under the theme “DigitALL: Innovation and technology for gender equality.”