By Andrew Phiri

Balaka, December 4, Mana: Ministry of Finance in partnership with Reserve Bank of Malawi (RBM) and AC Consulting have urged people in the country to adopt electronic ways of financial transactions on business activities in order for government to save money it spends to print new bank notes.

RBM Senior Analyst, Blaim Mofolo, made the remarks in Balaka on Tuesday when appreciating Digitalization Financial Inclusion and Competitiveness (DFIC) project awareness campaign currently underway in the district.

"This project is encouraging people to use technological ways of sending and receiving money as opposed to old ways whereby people would use cash on every transaction.

"As RBM, we know that with digital money it is hard for someone to lose money either through theft, fire or natural disasters," he said.

Ministry of Finance DFIC Project E-Trade Specialist, Sangwani Mkandawire, said the project is aimed at empowering rural communities and marginalized people on social economic welfare by leveraging in digitization and competitiveness on trade activities.

He said: "Government is committed to providing strong relationships within various social economic programs targeting people in rural communities such as Social Cash Transfer, Village Savings and Loans Groups, among others, hence embracing digital ways of financial transactions would ease the link."

Balaka Digital Financial Services (DFS) Field Supervisor for AC Consulting, Bernadette Maele, said the campaign will help spread technical skills and knowledge on how business operators, consumers and other parties would embrace fast, easy and secured digital ways of financial transactions.

DFIC awareness campaign, commonly known as DFS, is being implemented in Balaka for 20 days with financial support from African Development Bank (AfDB).

It will also run across the country with a major aim of embarking Malawians to a digital financial transaction era.