In the first quarter of 2024, I visited branches in the Southern Province of Malawi along with MicroLoan Malawi’s CEO, Davison Rakasi. Malawi is where MicroLoan Foundation started its operations back in 2002. Our operations there are centred around supporting women in rural areas who often have limited access to financial services. MicroLoan Malawi is dedicated to offering loans and continuous business and financial education to clients throughout its branch network. It was inspiring to witness firsthand the incredible progress and determination of our clients in the face of adversity.
Many of the branches we visited had been affected by cyclone Freddy in 2023. Despite several months elapsed, there was still plenty of damage visible. It was heartening to see the resilience and resolve of our clients in the face of calamity. Working with MicroLoan, many of the clients are rebuilding their lives and implementing risk management measures to face future shocks.
It was wonderful to see the progress in mobile money. As part of our strategy that calls for increased digitisation, it was great to see many of these branches adopting mobile channels to collect repayments. This has been a huge leap compared to where we were a year ago and we look forward to more developments in this area with disbursements and more. It’s a promising sign of the transformative impact that technology can have on financial inclusion and empowerment.
As we embark on exciting projects and initiatives in 2024 and beyond, it’s crucial to reflect on our journey and recognise the progress we have made. Through our collective efforts, we are poised to tackle new challenges and continue serving our clients with dedication and innovation. My visit to Malawi was a powerful reminder of the transformative power of resilience, innovation, and collaboration.
To find out more about MicroLoan Malawi, please visit our country page here.
Published on: 14/05/2024
