FDH Bank partners Joyce Banda Foundation to ease access to finance

FDH Bank plc and Women in Marketing Activities and Initiatives (Mwai) have signed a five-year strategic partnership that will provide an avenue for women small and medium enterprises (SMEs) to easily access finance.

Mwai, which is under the Joyce Banda Foundation International, is the brainchild of former president Joyce Banda who ruled Malawi from 2012 to 2014.

Speaking during the signing of a memorandum of understanding (MoU) in Blantyre on Tuesday, FDH Bank plc managing director Noel Mkulichi said the partnership will enable women in groups and as well individuals to access up to K3 million in loans to support their businesses.

He said: “FDH Bank believes in promoting and facilitating growth through various initiatives in the country under our sustainability programme called FDH Cares.

“This is a programme that is pivoted on four pillars, namely our people, our environment, our economy and our community.”

Mkulichi said the programme is inspired by the United Nations Sustainable Development Goals (SDGs) and Malawi 2063, the country’s long-term development plan.

He said the partnership is in tune with SDG goal number five that seeks to achieve gender equality and empowering all women and girls by 2030, thereby positively impacting the economy and community at large.

Speaking in an interview later, the former president said the partnership with the Malawi Stock Exchange-listed bank shows that Mwai is growing.

Banda said when Mwai started in 2010, they were targeting women and providing grants to uplift them.

She said: “The significance of this event is that we are recognising that Malawian women are resilient and hardworking.

“They have decided that they will lift themselves from where they are to the next level.”

Banda, who is a renowned women empowerment advocate, hailed FDH Bank plc for understanding Mwai’s concept and striking a partnership.