SIVIO Institute has published another report on financial inclusion. This report An Assessment of Digital Financial Inclusion of MSMEs in Malawi which was published on the 17th of April as part of a survey conducted in Lilongwe (Area 3, 15, 18 and 47) in the last quarter of 2023. The survey assesses micro, small and medium enterprises (MSMEs) and their level of access to financial products and services with a special focus on digital financial products ad services. Malawi is estimated to have up to 1.6 million enterprises in the whole country, employing at least 1.8 million people in total. This report highlights that about 88% of MSMEs have access to mobile money but only 47% have access to bank accounts with only 40% having access to loans. A key focus of the report is an analysis of access to digital products as part of the array of financial products and services.
Malawi introduced its first Strategy on Financial Inclusion covering 2016 to 2020 in an effort to ensure full access to financial products and services available from the countries institutions. This report is a valuable assessment of the progress that has been made by the country to date
Find our more about Malawi’s progress by reading the report HERE. You can listen to our latest podcast covering financial Inclusion in Africa.
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