FINCA launches EduSmart financing product

FINCA Malawi has launched its first education financing product, FINCA Edusmart, to promote access to education in the country.

Speaking at the launch in Blantyre, FINCA Malawi CEO Charles Bello said the product will enhance education quality and promote easy, affordable access.

“The FINCA Edusmart will target education institutions, covering operational expenses, improving infrastructure, and purchasing assets like desks, buses and technology,” Bello explained.

 “Parents with students at any education level can access the loan, as well as employed students seeking to upgrade their studies.”

The organization has allocated MK 1 Billion for EduSmart, targeting 500 institutions and 3,000 individual customers nationwide.

According to Bello, this initiative aims to make education easily accessible and affordable to everyone, including low-income earners.

Country Director of Opportunity International, Richard Chongo, noted that his organization believes access to affordable, high-quality education can eradicate poverty.

 “We proudly support government efforts to educate its people and are honored to be part of this transformative change,” he said.

The launch was attended by Chief Education Officer Jane Banda, among other guests.