FDH Bank launches Service centre on Likoma Island – Capital Radio Malawi
14 April, 2024

FDH Bank launches Service centre on Likoma Island

The only bank on Likoma Island -FDH

Access to financial services is expected to improve following the official launch of the FDH Bank Plc Likoma Island Service Centre.

FDH Bank Plc managing director Noel Mkulichi says the decision is part of their expansion strategy and plans that aim to provide easy access to financial solutions that enable communities to grow.

He said: “This service centre is aimed at breaking financial barriers for the people of Likoma. It was initially shocking to hear of the financial accessibility challenges that the people at here are facing.”

The Reserve Bank of Malawi (RBM) deputy governor McDonald Mafuta Mwale says the FDH Bank on the Island will enable the inhabitants to carry out various socio-economic activities.

“We are delighted with the introduction of banking services here in Likoma. Access to banking is essential for economic growth and prosperity, and the opening of this branch will undoubtedly contribute to the development of Likoma,” Mwale explained.

The RBM governor made a pledge to the financial institution saying they will create a suitable environment for the bank to flourish.

Mwale continued saying: “Reserve Bank of Malawi is committed to creating an enabling environment through policy and regulation to support growth and access to banking in Malawi.”

Supporting the RBM governor’s statement, finance minister Simplex Chithyola Banda asked business owners to take advantage of the service centre to establish and expand their enterprises.

Chithyola Banda commended FDH for its financial services, exchange currencies that also helps promote of tourism on the island.

He said: “The Bank will bring numerous benefits to not only people and the country but also the Bank itself. For example, there will be local economic development as the bank will support the growth of small businesses by enabling entrepreneurs to establish and expand their enterprises.”

There are high expectations that the bank will strengthen the trust and customer base through providing convenient banking services. 

Meanwhile, as part of the unveiling ceremony, the bank made donations of K3 million to Likoma District Hospital towards procurement of linen for women’s ward and K2 million to Likoma Secondary School towards procurement of mattresses for students.

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