BIO has granted USD 6,160 of Technical Assistance to Finca Malawi, a microfinance instituion in Malawi.
Headquartered in Blantyre, offers individual 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, a service that allows clients to access their accounts, transfer funds, pay bills and purchase mobile airtime. Today, agent and mobile banking account for most of its transactions.
FINCA Malawi is a microfinance subsidiary of FINCA Impact Finance, a global network of 20 microfinance institutions and banks that provides socially-responsible financial services and enables low-income individuals and communities to invest in their future.
BIO is co-financing a SPl4 audit which will allow the financial institution to measure and improve its social performance. SPl4 includes the Client Protection Principles, amongst other things and prepares the institution for a Smart Campaign certification.
Read impact and news about this project
The Belgian Investment Company for Developing Countries recently
began disbursing funds as part of a four-year loan of USD 1.5 million to
FINCA Malawi, a microfinance institution (MFI) owned by the US-based
firm FINCA Impact Finance.
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