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Malawi: FDH Bank Partners Joyce Banda’s Mwai for Soft Loans

Home-grown leading financial institution, FDH Bank plc has signed a memorandum of understanding (MOU) with the Market Women Activities Initiative, (MWAI) an organisation founded by former president and women rights activist and philanthropist Joyce Banda, to offer them soft revolving loans for the next five years.

FDH Bank Managing Director Noel Nkulichi made the commitment on Tuesday with MWAI’s founder and former president Joyce Banda.

According to Nkulichi, hundreds of business women will have a chance to access up to K3 million loans to support their activities.

“FDH Bank believes in promoting and facilitating growth through various initiatives in the country under our sustainability program called FDH cares z

– This is a program that is pivoted on four pillars namely, Our People, Our Environment, Our Economy, and Our Community – The FDH Cares program is inspired by the Sustainable Development Goals and Malawi-2063 Masterplan.

“The partnership with MWAI is one of such partnerships that speak to Sustainable Development Goal Number 5 aimed at achieving Gender Equality and empowering all women and girls, consequently impacting the economy and community at large.

“FDH Bank plc is committed to both women empowerment and financial inclusion; both being championed through this initiative,” Nkulichi said.

He further said that apart from being beneficial to the women, the country is also expected to benefit through increased number of women having access to banking services, and decreased number of unemployed women who will in-turn create jobs to complement the government’s effort.