By Innocent Chamtulo
Mulanje, December 2, Mana: Village Savings Loans (VSL) group and business persons in Traditional Authority Ndanga have hailed the use of digital financial services being promoted by the Reserve Bank of Malawi.
In an interview with Malawi News Agency on Monday, Chairperson for Talimba Group Chrissy Nyaka said in the past years they have been keeping their money in the house which was putting it at high risk of getting damaged or stolen.
“We appreciate government for the training that have been provided by the Reserve Bank of Malawi. We had little knowledge on modern ways of keeping our money safe but after this interaction we believe that we will make sure that we follow what have been learnt,” she said.
She further said the use of digital platforms will help to promote accountability and transparency in running affairs of their village savings group when it comes to management and safety of finances.
Oliver Selenje from Limbuli Market in Traditional Authority Njema said she noted that the use of digital platforms when facilitating business is ideal since it is less risky than keeping hard cash at home.
“We have warmly welcomed the initiative, I believe this will help us to make easy calculations on the profits that have been made on every day of business," she said.
Mulanje District Council Community Development Officer, Janet Nsongolo said financial literacy was one of the key areas they teach VSL groups during formation and as refresher trainings.
A 20-day campaign which started on 26th November in Mulanje District is expected to reach out to the whole district mainly trading centers and secondary schools with road shows and sensitization meetings.
