Nagowa Finance Limited, which is a Malawian Micro Credit Agency that has recently been granted a license by the Reserve Bank of Malawi, has said they are cognizant of the current advent for economic emancipation being promulgated at a macro economic level in the country.
In a press release issued on Monday and signed by the chief executive officer, Robert Kapyepye, they said, hence the genesis of their financial institution amidst all the turbulence in the economy is a sign of commitment by their shareholders in support of the agenda Mw 2063.
“In the journey towards MW 2063 we are aware of the acute shortage or meagre levels of access to finance being experienced by MSMEs.
“We have gathered prevalent bottlenecks such as demand for low density residential properties as security, neatly packed in traditional products T&Cs amongst others,” said Kapyepye.
He said in addition, they have taken keen interest in deliberate catalysts to spur the MSME sector taken by the Ministry of Trade through the MSME policy enactment.
“We are geared to take a leading role in supporting this great policy through provision of pragmatic client solutions, great client service, exposing young talent and deployment of robust operating systems.
“We are opined our approach will ensure such positive strides in MSME policy deliver and achieve the change we all want to see for the treasured MSME sector,” said Kapyepye.
He furthermore said MW 2063 has emphasized on addressing the needs of marginalized groups in particular women and the youth.
“You will be pleased to note that in our shareholding we have 30%representation comprising an upcoming business minded young lady below 30 years plus two distinguished gentlemen, our board of directors has 40% women representation and our leadership team has embraced the 50:50 agenda under the Sustainable Development Goals, “he said.
In addition, he said their management team has an average age of 33 years thus dominated by the youth.
He said they are very passionate about women entrepreneurs and that they are committed to take deliberate strides both in product and service delivery to advance the agenda MW 2063 on increased access to finance.
“We believe the deliberate positive steps taken will have a positive ripple effect in the microfinance sectors contribution to the advancement of women and youth as we progress as an institution,” he said.
Kapyepye said they are cognizant of the fact that they are not the first neither will we be the last to make an entrance in this business hence they respect and acknowledge the stiff terrain ahead of them.
“However, please note that our shareholders boost comprehensive banking expertise spanning over 30 years combined amassed in corporate, MSME, microfinance and retail banking in Malawi.
“In addition we have tapped into the current market talent pool to beef up our management team and have invested significantly in robust operating systems including partnering the microfinance hub,” he said.
In addition, they said they have embraced a robust phygital model that enables them to tap into productive alliances within their ecosystem.
Based on the significant capital allocated at all levels of the business, Kapyepye said they believe they are ready to deliver their mission.
When all is said and done, Nagoya said they respect the unwavering charter that expounds that.
“We aim for the roof top not because it’s glamorous but because it is there. We hope our journey to the roof top won’t be long.
“Consequently, we are geared to operate within the regulatory framework as guided by the relevant laws of our beautiful country of Malawi, commit to uphold highest levels integrity and embrace our values to greatness.
“We have embraced the COP 26 principles and commit to be a responsible institution through provision of sustainable value to both internal as well external stakeholders,” he saidFollow and Subscribe Nyasa TV :