FINCA Malawi has recently introduced a new savings promotion aimed at fostering financial discipline among its customers. The campaign, titled “Let’s Go, Tiyeni Ku FINCA,” offers exciting prizes, including a grand prize of a gas cooker, to incentivize savings. Running from September 24th to December 20th, 2024, the promotion targets both existing and new customers, encouraging them to open or maintain savings accounts with FINCA. This initiative is part of FINCA’s broader mission to provide lasting financial solutions to low-income individuals and communities.
Exciting Prizes to Encourage Savings
The “Let’s Go, Tiyeni Ku FINCA” promotion offers a range of attractive prizes to motivate customers to save more. The grand prize is a gas cooker, which is expected to draw significant interest. In addition to the grand prize, there are monthly prizes, including thermal mugs, heater/fans, and shopping vouchers worth MK50,000 each. These prizes are designed to reward customers for their commitment to saving and to make the process more engaging and rewarding.
To participate in the promotion, customers need to deposit a minimum of MK100,000 into a FINCA Fixed Deposit Account or MK20,000 into a PHINDU Savings Account. This requirement ensures that customers are actively engaged in saving and helps them build a habit of financial discipline. The promotion is open to all FINCA customers, including those with inactive accounts, providing an opportunity for everyone to benefit.
Promoting Financial Discipline
FINCA Malawi’s savings promotion is not just about prizes; it is also about promoting financial discipline among its customers. By encouraging regular savings, FINCA aims to help customers develop better financial habits and improve their overall financial health. The promotion highlights the importance of saving and provides a tangible incentive for customers to prioritize their financial well-being.
Marketing Manager Takondwa Chirwa emphasized the significance of this initiative, stating that it is a way to appreciate customers and encourage them to save more. Since 2015, FINCA Malawi has been accepting customer deposits, and this promotion is a continuation of their efforts to provide comprehensive financial services. By offering higher interest rates and no monthly charges on deposit accounts, FINCA ensures that customers get the most out of their savings.
A Broader Mission to Fight Poverty
The savings promotion is part of FINCA Malawi’s broader mission to fight poverty by providing lasting and life-changing financial solutions. FINCA started as a microfinance institution offering group loans and later expanded to include individual loans and deposit-taking services. In 2015, FINCA became Malawi’s first Deposit-Taking Microfinance Institution (DTMFI), allowing it to offer both savings and credit products.
FINCA’s mission is to support low-income individuals and communities by providing them with the financial tools they need to improve their lives. The savings promotion is a reflection of this mission, as it encourages customers to save and build a more secure financial future. By offering attractive prizes and promoting financial discipline, FINCA is helping to create a culture of saving and financial responsibility in Malawi.
