ActionAid Malawi has drilled village savings and loans (VSLs) groups in Traditional Authority Mlauli in Neno District to promote their income-generating activities.

The K164 million Tipindule Project, with support from Financial Access for Rural Markets, Smallholders and Enterprises (Farmse), will also link groups to formal financial institutions and promote food and nutritional security among rural communities.

Phiri: People will access financial services

Speaking on Saturday before Neno District Executive Committee members, ActionAid project field facilitator Charles Phiri said the project will improve access to affordable and sustainable financial services for rural households and micro, small and medium enterprises.

He said: “The project targets the underprivileged who are food-insecure.

“It targets people with low literacy levels who predominantly rely on agriculture and petty businesses and have limited knowledge in financial services, business management, marketing and viable valuable chains.”

Phiri said they are targeting 7 500 beneficiaries, out of which 3 600 are women, 900 young women, 2 400 men and 600 young men.

Farmse monitoring and evaluation officer Manuel Mang’anya said their objective is to extend financial services to rural areas that are excluded by most financial service providers.

“We work with partners that specialise in financial services and in Neno we are working with ActionAid Malawi which will implement the project to strengthen VSL groups and formulate new ones where there is need,” he said.

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