On 1st April FINCA Malawi officially launched the savings license and savings products with Henderson Street branch being the first service center. This is in response to a Microfinance Deposit-Taking Institution (MDI) license which FINCA was awarded by Reserve Bank of Malawi (RBM) in September 2015 and is now the first licensed MDI in the country.

According to the chief executive officer Chris Kizza ‘’this not only led to FINCA Malawi redesigning its operations but it also set the stage for the company to pursue financial sustainability and promote financial inclusion in Malawi’’ he said.

In the process FINCA Malawi launched staff savings accounts, ordinary savings accounts and fixed deposit accounts to clients respectively.

The event was graced by the reserve bank deputy governor Dr. Grant Kabango who commended FINCA’s milestone and asked FINCA to strive to become a full commercial bank. FINCA International president Rupert Scofield, FINCA board chair Agrinna Mussa and other board members including various stakeholders witnessed the savings launch at Henderson Street in Blantyre.

FINCA Malawi Staff participating in savings launch parade