Jul 16, 2018 Last Updated 2:58 PM, Jul 12, 2018

US Ambassador Urges Financial Institutions To Empower Women

US Ambassador Urges Financial Institutions To Empower Women Image sourced at manaonline.gov.mw
Published in Capital News
Read 11607 times
Rate this item
(0 votes)
Tagged under

US Ambassador to Malawi, Virginia Palmer has challenged commercial banks and other financial institutions in the country to provide favorable credit facilities and develop policies and programs targeting rural women in order to financially empower them.

She made the remarks Friday in Lilongwe during a Women’s Economic Empowerment Conference organized by Feed The Future Malawi Agriculture Diversification Activity and UN Women.

The conference aimed at strengthening linkages between policy holders and financial service providers to increase rural women farmers and entrepreneurs access to sustainable credit loans.

This comes against the background that Malawi’s agricultural sector is underperforming partly because women, who form the backbone to agriculture and rural economy, face constraints to access productive resources such as formal financing.

She urged commercial banks to realize the untapped potential lending sector in women in the agricultural sector.

“Women have a very high repayment rate and are doing incredibly great work. We need to look creatively at mechanisms by which they can prove they are credit worth and make sure they get access to finances so that they can grow those businesses,” said Palmer speaking to journalists.

On the other hand, Palmer said financial literacy and education for women is very important.

“If you are not financially literate, you cannot sustain (yourself) in the market place, manage to bargain and understand not to be taken advantage of.

“So girls do need to stay in school, which is a basic step on the road to women’s economic empowerment,” said Palmer.

With high interest rates being one of the challenges women are facing, Palmer said inflation is the worst thing for the poor people but said it was pleasing to note that things are heading in the right direction with rates are going down.

This she attributed to the good work that the government of Malawi has done to stay within its budget.

She added that time has come for people to stop taking the agricultural sector as an ordinary workplace but rather as the engine for the growth of Malawi’s economy, and also look at new ways to stimulate the sector.

UN Women Country representative, Clara Anyangwe in her remarks said the initiative to fight for financial inclusion for women is important for Malawian women because financial resources are the first thing needed to grow businesses.

“This is why we thought of bringing macro and micro financial institutions together to have a conversation in terms of the products and services that they have to ensure that resource poor women are financially included,” said Anyangwe.

She acknowledged that commercial banks in the country ask for high collateral security, like land which most women do not have.

Other stakeholders that attended the conference included Ministry of Agriculture, Irrigation and Water Development, First Merchant Bank, NBS, ECO bank, FINCA among other various NGOs.


  • Comment Link Robertnig Robertnig Friday, 13 July 2018 19:09

    vente viagra générique viagra
    http://acheter-viagra-generique.net/ viagra achat
    [url=http://acheter-viagra-generique.net/]acheter viagra[/url] commander viagra sur internet

  • Comment Link Russia  Webcams Russia Webcams Tuesday, 10 July 2018 20:16

    Cool! Interesting information over this web. It's pretty worth enough for me. Personally, if all web owners and bloggers made good content as you did, the web will be much more useful than ever before.| I couldn't resist commenting. I 've spent 3 hours looking for such infos. I will also share it with a couple of friends interested in it. I have just bookmarked this web. Done with the search done, I'll enjoy some WAGs Cams. Thanks!! Regards from Mundial 2018!

  • Comment Link kiranightlyxo kiranightlyxo Tuesday, 10 July 2018 14:45

    You’re in some serious need of relaxation. That’s where a site like http://www.camgirl.pw comes in handy. You can do a whole lot of relaxing there. You’ll find plenty of fun girls to talk to. These are the hottest and most wild girls on the internet. Chat with them and have yourself a good time.

  • Comment Link StanleySex StanleySex Saturday, 07 July 2018 21:22

    In the interest example, it determination often make common sense in place of someone earning $50,000 gagner de l'argent en ligne a year without a corpulent portfolio to cede an investment advisor altogether, unless there are some behavioral advantages that about to better outcomes or the convenience is simply value it, as it is to multifarious people, as contrasted with opting for a sprinkling of well-selected, low-cost ratio funds.

  • Comment Link Free Auto Approve List 7-2-2018 Free Auto Approve List 7-2-2018 Wednesday, 04 July 2018 17:17

    I hope you all have a great week. I've added a new list. This is the biggest list so far.

Leave a comment

Make sure you enter the (*) required information where indicated.Basic HTML code is allowed.

Capital Tweets

Capital FM Malawi CapitalFMMw Capital FM Malawi

Did you know that @CapitalFMMw can be listened to #online or on your #mobile 24/7? Simply click listen on Radio Box… https://t.co/jTs6hZQgW6

58 minutes ago Reply Retweet Favorite
Capital FM Malawi CapitalFMMw Capital FM Malawi

Tune in to #Malawi'>DayBreakMalawi now! The early morning show that gives you News, Views and Interviews, from across #Malawi. #CFMNews

1 hour, 8 minutes ago Reply Retweet Favorite
Cool Calls CoolCalls Cool Calls

@CapitalFMMw These power hungry politicians just want to make fun of @sauloschilima. There's no way for him to win,… https://t.co/EYgSVov9f1

6 hours, 33 minutes ago Reply Retweet Favorite
Capital FM Malawi CapitalFMMw Capital FM Malawi

RT @AllidahDHenson: @yapika_ shared on her life as a blogger and entrepreneur. Get in touch with her Blog: https://t.co/0R7TlMfVRC Facebook…

13 hours, 21 minutes ago Reply Retweet Favorite
Allidah D. Henson👑 AllidahDHenson Allidah D. Henson👑

@yapika_ shared on her life as a blogger and entrepreneur. Get in touch with her Blog: https://t.co/0R7TlMfVRC Face… https://t.co/kcwBAWTrGG

14 hours, 13 minutes ago Reply Retweet Favorite

Find Us on Facebook