By Chisomo Phiri
NBS Bank and UN Women on Thursday entered into a strategic partnership aimed at strengthening women’s entrepreneurship in Malawi through improved access to finance and enhanced financial literacy programmes.
Speaking during the signing ceremony in Blantyre, NBS Bank Chief Executive Officer (CEO )Temwani Simwaka said the collaboration builds on the bank’s ‘Bold and Bankable’ initiative, which was introduced a year ago following research indicating that many women entrepreneurs face challenges in accessing capital to grow their businesses.
Simwaka said the partnership is intended to help close the financing gap that continues to affect women-led enterprises, while promoting inclusive and sustainable economic development.
“Through this collaboration, we aim to unlock opportunities that will enable women entrepreneurs to scale their businesses and contribute meaningfully to the economy,” said Simwaka.
On her part,UN Women Country Representative Letty Chiwara said limited access to finance remains one of the major barriers preventing women entrepreneurs and professionals from reaching their full potential.
She said the partnership will help address these challenges by supporting innovative financial solutions tailored to the needs of women-owned businesses.
Under the arrangement, selected women entrepreneurs operating within cooperatives under UN Women’s mentorship and monitoring framework will be able to access loans without the requirement of collateral.
The initiative is expected to provide more flexible and inclusive financing options, designed specifically to support the growth and sustainability of women-led enterprises across Malawi.
