LUANAR, microfinance network sign MOU to enhance human capital development

Lilongwe University of Agriculture and Natural Resources (LUANAR) has signed a Memorandum of Understanding (MOU) with Malawi Macro-finance Network (MMN) to enhance human capital development.

In the partnership, the two institutions have agreed that, through the Department of Agri Business Management (ABM), LUANAR will train the students in various macro finance skills while MMN will provide a space to expose what they have learnt.

LUANAR Vice Chancellor Professor Emmanuel Kaunda said during the signing ceremony on Thursday at Bunda campus in Lilongwe that the MOU has strengthened the relationship between the two institutions to pave a  pathway on how to work together.

“The partnership is critical to us as it has allowed us to train students in enterprise, development and microfinance, and design innovative microfinance products,” he said.

Kaunda added that the partnership will also pave the way for the upcoming Master of Science in Development Finance program.

In his remarks, MMN Chief Executive Officer, Duncan Phulusa said their key interest in partnering with LUANAR is to build capacity in the microfinance sector in the country.

“As microfinance institutions, we need to be capacitated. We need to have more skilled, able and more people that will enable us to deliver our services in an efficient and effective manner,” he said.

Phulusa said the network needs more people in rural areas since more of them concentrate in the peri-urban areas. Therefore there is a need for more people to work in rural areas.

However, he said, the network will benefit more in terms of human resource through the students that will be trained at the university and work in the microfinance institutions across Malawi.

The network has almost 88 microfinance institutions across the country.