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2019 FARMSE RURAL FINANCE INNOVATION SYMPOSIUM

Dec 17 2019

Financial Access for Rural Markets, Small holders and Enterprises (FARMSE) organized a two days Symposium on Rural Finance Innovation Symposium under the theme’ Leveraging Digital Technology to deliver Financial Services for Rural Markets’ The Symposium was conducted from 5th to 6th December 2019 at Mount Soche Hotel in Blantyre.

 

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                                                                                 Dixon Ngwende FARMSE Programme Coordinator giving his first welcome remarks during the opening of two days symposium  

Delegates from Zambia, Kenya and Uganda including FARMSE partners like Malawi Union of Savings and Credit Cooperatives (MUSCCO), HEIFER International, NBSBank,CUMO,FDH Bank, FINCOOP, COMSIP,Care, Save the Children, World relief and OXFARM attended the Symposium.
As many of you are already aware, FARMSE is a Malawi Government initiative implemented with funding from the International Fund for Agricultural Development (IFAD). The FARMSE Programme aims at reducing poverty, improving livelihoods and enhancing the resilience of rural households on a sustainable basis. The development objective of the Program is to increase access to a range of sustainable financial services by the rural households and small and medium enterprises. The Programme targets about half a million households nation-wide of which 50% are women and youth.

Malawi, like many of its peers in the region, has been working tirelessly to develop a financial system that responds to the needs and aspirations of its people.’The current National Strategy for Financial Inclusion provides the plan of action that facilitates the development of financial inclusion by helping to establish a shared vision for the financial sector among other objectives.’Said Dixon Ngwende.

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                                                              The official opening of the Symposium by Chief Director Representative from Ministry of Finance, Economic Planning and Development.


The Guest of honor said The Malawi Growth and Development Strategy (MGDS) III recognizes the need for a vibrant, efficient, stable and inclusive financial sector that meets the financing needs of all Malawians, including the rural population.
In recognition of the huge potential of financial services to contribute to Government’s development, the Ministry of Finance, Economic Planning and Development has been at the forefront in providing a conducive policy environment for an inclusive financial system. The Government of Malawi views increased access to financial services as a key for enhancing productivity and empowerment of Malawians to contribute more effectively to socio-economic development. Furthermore, the Financial Sector Development Strategy (FSDS) and the National Strategy for Financial Inclusion (NSFI) have expounded and translated this vision into clear action steps on what needs to be done to achieve the country’s financial inclusion goals.

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                                                                                                                Delegates listening attentively during the Symposium

Finally the Symposium was meant to unravel rural finance innovations and best practices adaptable to enhance access to financial services by rural communities and to strengthen the capacity of participating institutions in the delivery of interventions.

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