FINCA Malawi, a leading microfinance institution, has awarded cash and branded materials to winners of its recent “Let’s Go, Tiyeni Ku FINCA” promotion.
The initiative aimed to encourage customers to utilize FINCA’s loan products and improve their financial well-being.
At the grand finale held at FINCA’s Head Office in Blantyre, Jeromy Viatory Chilemba from Blantyre emerged as the grand prize winner in the payroll loans category, taking home K500,000.
Namanthanji Village Bank Group from Zomba also won K500,000 in the Village Banks category, out of over 1,360 entries.
Other winners included Georgina Jumbo from Lilongwe and Mphatso Village Bank Group from Rumphi, who each received K300,000 in the second draw.
Several customers also received branded T-shirts and caps.
The promotion, which ran from April to June 30, targeted both existing and new customers.
To qualify, existing Village Bank customers had to invite a new group and receive a discount on their loan payment, while payroll loan customers had to apply for a loan through their employer’s guarantee.
FINCA Malawi introduced the Village Bank Loan, a group loan product, as its first loan product in the market.
The Payroll loan was later introduced to promote financial inclusivity, ideal for customers needing extra financing for expenses like school fees.
FINCA Malawi’s loan products aim to provide financial support to low-income individuals and communities.
With 23 branches across the country, FINCA Malawi has been operating in Malawi since 1994, helping numerous individuals invest in their future.
