FINCA Malawi Secures $1.5 Million Loan Facility From BIO
FINCA Malawi, FINCA Impact Finance’s (FIF) microfinance subsidiary in Malawi, announced that it has secured a $1.5 million loan facility with a four-year tenor from the Belgian Investment Company for Developing Countries (BIO). This loan facility marks the inaugural transaction between FIF and BIO and will be used to provide general on-lending to FINCA Malawi clients.
Headquartered in Blantyre, FINCA Malawi is a licensed Deposit Taking Microfinance Institution serving more than 70,000 clients through a network of 23 branches and 63 active agents across the country. FINCA Malawi offers individual loans, Payroll loans, group loans, savings and insurance products specifically designed for the local market. In 2018, FINCA Malawi expanded its digital footprint with the launch of FINCA Mobile and FINCA eXpress Agency banking services that allow clients to access their accounts, transfer funds, pay bills and purchase mobile airtime.