FINCA Ltd is actively working towards financial inclusion with a target of the unbanked population in Malawi.
FINCA Ltd, In Malawi is a leading Deposit-Taking Microfinance Institution with operations in 23 branches, across Malawi. On a bright Friday, the 2nd of December 2016, FINCA Ltd officially launched its Nchalo Branch at Nchalo Trading Centre in Chikwawa district. This auspicious launch of Nchalo Branch follows the successful transition of six other branches that are now Deposit taking service centres. These are Henderson Street, Lilongwe, Katoto, Bwaira, Mzimba and Karonga Branches.
FINCA Nchalo Branch will be offering both Savings and Loan products to help clients effectively manage their money, save for the future and grow their micro-businesses.
The Launch for Nchalo Savings Branch was graced by the presence of Guest of Honour for the function; Director of Microfinance and Capital Markets, Mr. Hastings Mzoma from the Reserve Bank of Malawi. Also present at the launch function was the CEO of FINCA Ltd in Malawi, Mr. Chris Kizza Parker and part of FINCA management team. Paramount Chief Lundu, a representative for Chikwawa district commissioner, Illovo Human Resources Manager and other invited guests as well as FINCA staff were also part of this once-in-a-lifetime occasion.
“We are excited that with the introduction of our ability to take deposits, our customers will now have an opportunity to grow their wealth in a safe and secure environment using our savings products.” Said the CEO of FINCA Limited Mr. Chris Kizza Parker in his opening remarks.
The Guest of Honour from Reserve Bank of Malawi, Director of Microfinance and Capital Markets, Mr. Hastings Mzoma did not hide his admiration for FINCA Ltd as it has grown and continues growing from strength to strength. “FINCA Malawi, the very first Microfinance Institution, has taken this bold step to attain the very first Deposit Taking status in Malawi. More impressive is the fact that within a period of less than a year we have witnessed FINCA Malawi transition seven branches, the most recent being FINCA Nchalo Branch, to Deposit Taking Microfinance Institution status.’’ said Mr. Mzoma. In conclusion, the Guest of Honour proceeded to officially open Nchalo Branch as a deposit taking service centre by cutting the ribbon.
FINCA Ltd is a deposit taking microfinance institution that rolled out its operations in Malawi in 1994 and works in several countries across Africa, as well as beyond the Africa boarders.