FDH Bank plc and Women in Marketing Activities and Initiatives (Mwai) have joined forces to empower women-owned small and medium enterprises (SMEs) in Malawi. The five-year strategic partnership will provide an avenue for women SMEs to easily access finance, enabling them to take their businesses to the next level.
Mwai, which is under the Joyce Banda Foundation International, was created by former President of Malawi, Joyce Banda, to promote and support the growth of women-owned businesses. Speaking at the signing of the memorandum of understanding (MoU) in Blantyre, FDH Bank plc managing director Noel Mkulichi said the partnership is in line with the bank’s sustainability program, FDH Cares, which is focused on four pillars: people, environment, economy, and community. The partnership is also aligned with the United Nations Sustainable Development Goals (SDGs) and Malawi 2063, the country’s long-term development plan.
Former President Banda, who is a renowned women empowerment advocate, praised FDH Bank plc for understanding Mwai’s concept and striking a partnership with the organization. She said: “The significance of this event is that we are recognizing that Malawian women are resilient and hardworking. They have decided that they will lift themselves from where they are to the next level.”
This partnership is a significant step towards achieving SDG number five, which aims to achieve gender equality and empower all women and girls by 2030. By providing easy access to finance for women-owned SMEs, this partnership will positively impact the economy and community at large.