FINCA Malawi has launched Village Bank and Payroll loans promotion campaign dubbed “Let’s go, Tiyeni Ku FINCA” which will run for a period of three months from April to June 30 this year.
The grand prize for the Village Bank and Payroll loans promotion is MK500, 000; MK 300,000 for runners, MK100, 000 for the third and others prizes such as branded 5 T-Shirts and 5 Caps for each group.
Speaking during the launch on Monday, FINCA Malawi Marketing Manager Takondwa Chirwa, said the campaign aims at reaching more customers with their loan products as well as changing their lives.
According to Chirwa, the promotion is for both existing and new customers, adding that a group of five people will be able to borrow a maximum of K1.5 million.
To qualify for the promotion, Chirwa said existing Village Bank Customers must invite a new group and they will get a discount on their loan payment for a full circle.
While for Payroll loan, all employed customers must apply for a loan through the employer’s guarantee, and automatically they will qualify for the draws.
Village Bank Loan, which is structured as a group loan, was the first loan product to be introduced in the Market by FINCA Malawi.
While Payroll loan was introduced with the aim of promoting inclusiveness. The Payroll loan are ideal for customers who need extra financing to support their homes such as paying school fees.
FINCA Limited started its operations in Malawi in 1994.To date, with its Head Office in Blantyre; it is now operating 23 branches countrywide servicing both rural and urban entrepreneurs with financial needs.
Initially, FINCA started as a Microfinance institution offering loans in groups and later combined with individual loans product after registering successful performance with the later.
In 2015, FINCA Limited received a Deposit Taking license which has transformed FINCA into the first and currently only Deposit Taking Microfinance Institution (DTMFI) in Malawi, enabling it to offer both Savings and Credit products.
FINCA’s focus over the past years has been on helping low income individuals and communities invest in their future anchored on its mission to fight poverty through providing lasting and life changing financial solutions
