Malawians struggling to access finance could benefit from renewed efforts to help individuals and small businesses secure the money they need to improve their lives and grow their enterprises.
The Malawi Microfinance Network is looking to advance this goal through its annual conference scheduled for October 22 to 24, with Old Mutual contributing K7.5 million towards the event.
The conference will run under the theme, “One sector, one vision: Balancing innovation, compliance and impact,” bringing together financial sector players to discuss ways of expanding access to finance.
Malawi Microfinance Network chief executive officer Dunken Phulusa said the meeting would provide a platform for stakeholders to develop a shared vision for supporting individuals, small-scale businesses and medium-sized enterprises.
He said improving access to finance at household level could also contribute to the country’s economic prosperity.
“We know that the contributions we make will benefit each and every Malawian towards a stronger economy,” said Phulusa.
Old Mutual Acting Head of Sales and Distribution Philip Waluza said the K7.5 million sponsorship reflects a shared belief that economic progress depends on individuals and businesses having access to financial solutions and opportunities.
“At all nature we believe that economic progress can only be achieved when individuals and businesses have got financial solutions and opportunities that will make them to strive,” said Waluza.
He said microfinance institutions play an important role in helping businesses grow by providing loans, making the partnership a way of supporting their work.
Waluza said he expects the conference to bring together financial sector players, including microinsurance companies, to explore ways of helping Malawians access the financing they need to improve their lives.