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Malawi

SMALL LOANS MAKING BIG CHANGES TO PEOPLE’S LIVES

IN RURAL AREAS OF MALAWI, WHERE ACCESS TO CREDIT IS DIFFICULT, OUR LOANS MAKE A SIGNIFICANT IMPROVEMENT TO THE LIVES OF MANY. WHEN OUR CLIENTS USE THEIR LOANS TO BUILD THEIR BUSINESSES, THE EFFECTS ARE FELT THROUGHOUT THE COMMUNITY. THEY USE THE ADDITIONAL INCOME EARNED TO BUY FOOD, CLOTHES AND MEDICINE, AND TO EDUCATE THEIR CHILDREN SO THEY CAN HAVE A BRIGHTER FUTURE.

We were established in 2000 to provide microfinance services to poor people in Malawi. Our financial products are aimed at empowering communities by providing access to credit as well as training in business related areas. We focus on helping the economically poor and active members of communities, with a special focus on women.

We operate across the country through four branch offices and 16 outlets mainly located in and around World Vision Malawi (WVM) Area Development Program (ADP) areas. This allows us to integrate our financial services with World Vision’s development interventions and goals. Working with WVM brings synergies that result in lasting changes economically, spiritually and socially to people’s lives and their communities.

Working in Malawi

Over 40% of people living in Malawi live below the poverty line. Most of these are women. Women make up 52% of the population but serious gender disparities still exist in terms of access to, and control of productive resources and opportunities for participation in the country's development.

Around 80% of Malawians live in rural areas, with smallholder agriculture being the main economic activity. However, many people can’t afford to buy seed and fertilizer, and therefore have problems accessing the necessary farming products. As a result, harvests can be modest because of the use of recycled seed and a lack of fertilizer. This results in food insecurity and malnutrition which affects children and women more as their ability to recover from these unrelenting risks and shocks weakens.

With social and economic difficulties typical for the region, our microfinance services meet the needs of rural communities.

Awards and Ratings

  • Microfinance Transparency Certificate, 2013
  • Malawi Microfinance Network membership, 2014

Future Innovation

We currently operate in 23 of the 44 World Vision community areas. Growth is our priority so that we can maintain operational and financial self sustainability.

Our current and future projects include:

  • Joint Livelihoods Project with World Vision to help build resilience of small holder farmers with measurable impact on the well-being of children.
  • Development of new products targeting cooperatives established by World Vision.
  • Improved efficiency, security and customer service through mobile banking.

Client Success Story

Winifrida cares for eight children, two of whom are orphans. Winifrida lacked the means to develop her farm and she produced poor harvests. With little food, her children were left malnourished and often in hospital.

After taking a loan for US$240, Winifrida developed her farm and quadrupled her production. She can now afford to buy her children the things they need.

Management Details

MFI Structure


Masutano Mulaga joined our organisation in August 2010 as Chief Finance Officer and was appointed as CEO in June 2013. He is a Chartered Accountant with vast experience in the financial sector. 

Our microfinance institution has a board made up of eight individuals from World Vision Malawi, VisionFund International and private sector professionals. Our CEO leads the management team.

 

The management team is comprised of highly qualified professionals:

Finley Kandaya, Chief Operations Officer

Samson Sikelo Phiri Chief Finance Officer

Temwach Nkhono, Human Resources and Administration Manager

Francis .A. Saka, Marketing and Integration Manager

 

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