First Discount House treats Lilongwe customers, urges Malawians to prioritize investment

First Discount House – a subsidiary of the FDH Financial Holdings Limited – says Malawians need to cultivate a saving culture if the country is to achieve its socioeconomic aspirations.

Chiwalo: Investment doesn’t necessarily mean earning more money.-Photo by Watipaso Mzungu, Nyasa Times
Some of the customers following a presentation from First Discount House personnel.-Photo by Watipaso Mzungu, Nyasa Times

Managing director for First Discount House, Mike Chiwalo, said the institution believes Malawi can progress better citizens make investment a priority and consumption secondary.

Chiwalo made the remarks on Friday evening during a customer engagement cocktail at the Bingu International Convention Centre in Lilongwe.

“Robert Kiyosaki said and I quote, ‘It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for. So, along that spirit, I urge you my fellow Malawians to put investment as a priority and consumption should come second,” he said.

This is the second cocktail the House organized for its customers and clients. Towards the end of 2019, the institution held a similar cocktail in Blantyre where it engaged customers in the Southern Region.

The major objective of these cocktails is to create a platform for engagement and sharing of ideas and insights for mutual growth and progress, according to Chiwalo.

Chiwalo disclosed that First Discount House continues to register steady growth both in asset size and profitability because of the support from its customers.

“The Discount House and its customers are components in a mutually rewarding and lucrative journey to growth. In 2019, we registered a profit of K1.5 billion, a notable leap from the profit registered in December 2018 of K1.1 billion. Following this trajectory, we look forward to achieving more at the end of this year,” he explained.

 

“We have nothing, but appreciation to express to you our customers who have worked with us in growing the business. To continue serving you better and using some of the insights you give us, we are growing our product portfolio,” Chiwalo stated.

Anthony Ngwira of the New Apostolic Church Relief Organisation (NACRO) commended the House for introducing innovative products and services to encourage Malawians to save and invest for the future.

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