FINCA Malawi is proving that intentional innovation can be a powerful tool for transforming lives—especially when it prioritizes women.
With over 35,000 customers, 70% of them in rural areas and half of them women, FINCA is driving inclusive finance in Malawi with a special focus on gender equity.
According to Takondwa Chirwa, FINCA Malawi’s Marketing Manager, the institution believes that women are central to community development.
“Most women are deeply involved in small businesses but lack the financial muscle to grow. We provide them with working capital to help them become financially independent and build sustainable enterprises,” she said.
In the past year alone, FINCA Malawi has launched a series of gender-intentional, FinTech-driven innovations. These include:
FINCA AIRTEL MGODI – an overdraft facility to support liquidity for mobile money agents;
FINCA Mobile Upgrade – expanding mobile financial access to underserved rural customers, especially women;
FINCA EduSmart – a financing solution tailored for education-related needs of families and schools;
FINCA Clean Energy – offering loans for clean energy solutions like solar and gas equipment, empowering women-run businesses to reduce reliance on charcoal or firewood.
These initiatives not only improve access to financial services but also enhance health, education, and sustainability outcomes in communities.
However, Takondwa pointed out ongoing challenges such as low digital literacy and minimal support for start-ups. She called on the 40 Days 40 FinTechs initiative to extend technical and collaborative support to help Malawi’s FinTech ecosystem grow.
FINCA Malawi’s feature on Day 16 of the #40Days40FinTechs highlights its role as a change-maker in inclusive finance. The initiative—now in its fifth year—has showcased more than 200 FinTechs across East and Southern Africa, championing the use of digital solutions to uplift underserved populations.
At its core, #40Days40FinTechs is about sharing success stories, providing visibility, and connecting innovators with critical tools such as Mojaloop, Level One Project guidelines, and inclusive finance systems.
