Monitoring Visits reveals over 90% are satisfied with FInES loans

A recent monitoring visit conducted by FInES Project Implementation Unit across Malawi revealed that 94% of the target (377 MSMEs are satisfied with the FInES loans.

The monitoring found out that over 70% will be able to repay the loan because of the interest rate is low as compared to other lending products on the market.

It was revealed that 74% of the MSMEs keep record about their business. However, the visit unearthed that about half (49%) of the LoC beneficiaries have no formal training in business management. This entails a dire need for capacity building for the SMES.

Most SMEs reported that the FInES loans have impacted their businesses by boosting their capital and enabled them to expand their business, employed new staff and also increased profits in terms of sales.