RBM Applauded for Championing Women-Led Businesses in Malawi
The Reserve Bank of Malawi (RBM) is winning praise for leading the charge in supporting women-led Micro, Small, and Medium Enterprises (MSMEs), with a growing list of initiatives designed to boost access to credit and financial literacy.
Under the leadership of Governor Dr. McDonald Mafuta Mwale, the RBM is scaling up its efforts to empower women entrepreneurs—those who make up the backbone of Malawi’s business community. Delegates from across Africa gathered at the Bingu International Conference Centre (BICC) in Lilongwe this week for a workshop aimed at sharing strategies for empowering women through central banks.
Launched on Tuesday in partnership with the Alliance for Financial Inclusion (AFI), the RBM’s Joint Learning Program is aimed at strengthening financial education for women-led MSMEs. Speaking at the event, RBM Deputy Governor Dr. Kisu Simwaka called the gathering “a call to action” and a “reaffirmation of a shared commitment to inclusive economic growth.”
“Women entrepreneurs are not just contributors—they are catalysts for progress,” he said. “This is about recognizing their role and giving them the tools to thrive.”
In Malawi, over 1.6 million MSMEs drive the economy, 74% of which are micro-enterprises. Yet, only 1% of women-led businesses manage to grow into medium-sized enterprises. Barriers like limited access to credit, low financial literacy, and lack of collateral continue to stunt their growth.
To change this, RBM has rolled out several key programs:
- Dzukani Financial Literacy Program, which reached nearly 19,000 MSMEs in 2024—67% of them women-led.
- Digital Financial Inclusion Campaign, supported by the African Development Bank, delivering financial and tech education nationwide.
- Credit Infrastructure Enhancement, in partnership with IFC, improving credit reporting and movable asset-based lending.
- Gender-Inclusive Finance Roadmap, under AFI guidance, directing Malawi’s financial inclusion strategies.
- A new national awareness campaign, launched in January 2025, focusing on credit scores and movable collateral, tailored to women-led MSMEs and farmers.
Dr. Simwaka thanked AFI for its enduring support, noting that Malawi has benefited greatly from peer learning across the continent. “This initiative aligns with our national dream of building an inclusively wealthy and self-reliant Malawi by 2063,” he said.
Audrey Hove from AFI Zimbabwe also hailed the RBM’s leadership, describing its women-focused efforts as a model for other nations.
