Malawi’s push for financial inclusion is gathering pace, with financial firms using promotions to encourage more people to save, make digital transactions and access business financing.
FINCA Malawi says its three-month Tiipemelele Promotion has helped drive a 60 percent increase in mobile banking registrations, a 40 percent rise in usage and 58 percent growth in the number of customers depositing savings.
The promotion, which started in July 2026, concluded on Wednesday with a grand draw where three customers each walked away with K1.2 million.
FINCA Malawi Chief Commercial Officer Madalitso Jonazi said the campaign had helped the institution reach more customers and encourage them to embrace its financial products.
“We are very excited because of the opportunity that this promotion has given us to reach out to our customers so that we increase awareness of the products that we offer as FINCA Malawi,” he said.
Jonazi said the campaign focused on FINCA Mobile, a USSD platform that enables customers to conduct financial transactions using their mobile phones, and the Pindu Savings Account.
He said mobile banking usage had increased by 40 percent during the promotion, while registrations for the service had grown by 60 percent.
“I’m glad to say that now FINCA customers can actually transact with almost all the financial services available in the country, as well as the mobile money operators,” Jonazi said.
The promotion also targeted customers who were unaware that FINCA offered savings products, with Jonazi saying the institution had recorded 58 percent growth in the number of customers depositing savings.
He encouraged people to continue saving even after the promotion had ended, saying the institution wanted them to benefit from its savings products beyond the campaign.
“We want to encourage them not to stop here just because the promotion has ended, but to keep on saving with us,” he said.
He added that the institution would continue working to expand access to financial services, particularly savings and business financing, to help more Malawians manage their money and grow their businesses.
Beyond digital transactions and savings, the campaign also promoted FINCA’s business loans, which aim to help small and medium-sized enterprises access financing to expand their operations.
Jonazi said access to responsible financing was important for businesses that support livelihoods and contribute to economic growth, particularly among underserved communities.
The promotion attracted more than 13,000 entries and had a total prize pool of K9 million, including monthly cash prizes of K100,000 and K300,000, alongside 30 branded items.