Mpamba Ndikankhe loan facility gets recognition
Lilongwe, December 16, 2024 – TNM Mpamba Limited, a wholly owned subsidiary of TNM Plc, has been awarded for its groundbreaking Mpamba Ndikankhe loan facility integrated within its mobile money platform, Mpamba.
The recognition, awarded by ICS Africa Corporate Shared Value Awards highlights the innovative strides the company has made in transforming the mobile financial services landscape and driving greater financial inclusion across Malawi.
The award was presented in Lilongwe on Wednesday night by Trade Minister, Sosten Gwengwe at the ICS Africa Corporate Shared Value Awards ceremony held at the Bingu International Convention Centre (BICC).
Over the years Mpamba has developed a track record offering a revolutionary mobile loan service that allows users to access instant, low-interest microloans directly from their mobile phones.
General Manager for TNM Mpamba Limited, Chris Sukasuka said that the award attest to Mpamba’s commitment in enhancing financial inclusion in the country.
“We are deeply honored to be recognized for our efforts in providing accessible financial solutions through mobile technology. Mpamba Ndikankhe directly brings addresses financial inclusion to Malawians, where a significant proportion of the population remains excluded from financial services,” said Sukasuka.
According to the general manager, Mpamba Ndikankhe has disbursed over K30 billion in loans and extended to over 1.7 million customers providing instant, collateral-free loans via mobile devices, a service previously inaccessible to many low-income earners, small-scale traders, farmers, and rural entrepreneurs.
“Mpamba Ndikankhe is enables subscribers to apply for loans with a few simple clicks, eliminating the need for traditional credit checks or collateral. By utilizing cutting-edge data analytics and machine learning, the platform ensures that loans are tailored to the financial behavior of each user, promoting responsible borrowing and repayment,” he said.
The injection of liquidity into the informal sector drives economic growth, boosts grassroots entrepreneurship, and stimulates commerce at the local level. Mpamba Ndikankhe provides loans to individuals as well as Mpamba agents who use it to grow their businesses.
This empowers users to grow their enterprises, fostering entrepreneurship and economic participation, especially in rural areas where traditional banking services are limited.
For further inquiries;
Limbani Nsapato
Manager, Corporate Affairs
Mobile: 0888893483
E-mail: Limbani.Nsapato@tnm.co.mw
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