By Shaffie A Mtambo
The number of individuals seeking access to their credit reports at the Credit Data Reference Bureau (CRB) has increased by 48% since the launch of a campaign in January this year.
According to CRB marketing officer Alfred Mtila, the response from the general public has been overwhelming.
Speaking at a media training session in Blantyre, Mtila attributed the surge to the Malawi Financial Literacy Campaign on Credit Reporting and Movable Asset-based Lending, launched by the Reserve Bank of Malawi and partners.
The campaign aims to educate people on the benefits of credit reporting and the opportunities available through movable assets.
RBM’s Chief Examiner for Consumer Protection and Financial Literacy, Madalitso Chamba, highlighted that the campaign has reached over 100,000 people in the first quarter of 2025.
Chamba emphasized that the main objective is to empower individuals with knowledge on credit reporting advantages and opportunities accessible through movable assets, such as cars or farm machinery.
The campaign’s success is evident in the increased demand for credit reports, demonstrating a growing awareness and interest in financial literacy among Malawians.
Mtila and Chamba’s statements underscore the importance of financial education in promoting economic growth and stability. By empowering citizens with knowledge, the campaign is contributing to a more informed and financially literate population.
The initiative is a collaborative effort between the Reserve Bank of Malawi and other stakeholders, highlighting the value of partnerships in promoting financial literacy and economic development.
The campaign’s reach of over 100,000 people in the first quarter of 2025 is a significant achievement.
