Malawi Deepens Financial Literacy Drive with Phase Two of Consumer Education Campaign

The Reserve Bank of Malawi (RBM), in collaboration with the International Finance Corporation (IFC) and key financial stakeholders, has launched the second phase of its national consumer education programme. The initiative, unveiled in Blantyre, seeks to enhance public awareness of the Collateral Registry and Movable Asset-Based Lending (MABL) to expand access to credit for individuals and Micro, Small and Medium Enterprises (MSMEs).

At the core of this phase is the drive to promote the use of movable assets such as equipment, inventory, and receivables as viable collateral options for accessing finance. Major banks, including National Bank Malawi and NBS Bank PLC, are increasingly offering tailored lending solutions leveraging these assets.

As part of the rollout, a Media Education Workshop was held, bringing together editors and journalists from various outlets. The training aimed to equip media professionals with vital knowledge on credit reporting and MABL to support public education efforts.

Flora Shoba from the Department of the Registrar General underscored the role of the Personal Property Security Registry (PPSR) in creating a transparent and inclusive credit environment.

“The collateral registry is a powerful online tool that facilitates quick, secure verification of movable assets, ensuring lenders’ confidence and borrowers’ access to finance,” she said.

Dumisani Kadango, Country Manager for TransUnion Malawi, revealed a 35 percent increase in credit report requests in Q1 of 2025, reflecting growing public interest in credit awareness. Similarly, Credit Data CRB’s Alfred Mtira reported a 48.4 percent year-on-year rise in consumers accessing or questioning their credit reports.

Supported by international donors, the campaign is helping bridge the financial literacy gap and enabling Malawians especially MSMEs to make informed decisions about credit and financing.