National bank of Malawi plc, launched a product targeting women entrepreneurs, offering them a window to access loans up to K5 million without collateral.
NBM chief executive officer, Macfussy Kawawa, said the window has been created following requests from clients most of whom said were failing to access funds due to lack of collateral.
‘’We know that women have capabilities to do business but perhaps, sometimes they ae underated and we thought we should give them a special attention to serve them better. We have created a web portal through which customers will be sharing information, business ideas and so on.’’ Kawawa said.
One of the female entrepreneurs at Limu Consulting Agency, Rhoda Ndovie commended the bank for the initiative
She said the bank had also been giving them tips on how to run their business and approach to systematic records keeping.
‘’ It has been a challenge for most entrepreneurs to keep records of their business but the bank has been orienting us on some of the things required.’’ Ndovie said
The product encompass a savings account package, credit bundle package and exclusive web portal content.