The National Bank of Malawi has introduced a special loan facility for women called Amayi Angathe.
The facility will enable women to access soft loans with or without collateral.
Service Centre Manager for National Bank, Tawina Malata, said the bank is on the move to empower women economically adding that the loans were introduced to give women capital to start small businesses or boost those that already exist.
“Women come to the bank to borrow money. When people are borrowing money, there are some conditions attached like security. In this product, women will come to borrow money without security,” she said.
Minister of Gender, Community Development and Social Welfare, Patricia Kaliati, said she was happy with the strides National Bank was making in empowering women.
“This is an important initiative. Our friends in Kenya even if a woman goes there with a mat, they are able to give them money. But for some banks here, people keep on dancing looking for collateral,” she said.
The facility allows a maximum loan limit of MK5,000,000 with a maximum loan repayment period of 24 months.Follow and Subscribe Nyasa TV :