The National Bank of Malawi (NBM)has expressed concerns over increased non payment of loans under the Amayi Angathe loan facility.
The bank through the credit facility has so far disbursed over three billion kwacha to over eight hundred women out of the two thousand eight hundred and eighty registered applicants across the country since 2019.
Speaking at an International Women’s Day tea party in Mzuzu, Pater Chipeta Relations Manager for National Bank said non payment of loans as well as unwillingness to pay back the loan remains a big challenge.
Chipeta said the bank realizes the challenges that women face in business , hence committing to support women empowerment and equity to sustain business.
He added the bank, plans to disburse close to five billion kwacha by the end of 2023 where women can get a loan of up to five million kwacha payable in twenty four months with a two percent interest rate.
