In the heat of misfortunes, women have repeatedly demonstrated that resilience is their strongest asset. For women in business, the journey to success is often filled with challenges, some rooted in personal loss while others stem from a desire to achieve more and become more.
It is not surprising that their courage transforms into unstoppable momentum when these women find the right support.
As we celebrate International Women’s month, we turn the spotlight on a group of remarkable women who have challenged the odds, built thriving businesses, and contributed to the economic growth of their families and communities with support from National Bank of Malawi (NBM) plc’s ‘Amai Angathe’ product offering.
Layka Thakwalakwa from Nchalo, an ambitious woman in the agri-business sector, faced a life-altering challenge when Cyclone Freddy hit in 2022, wiping out much of her livestock and leaving her in despair. Her business, which had been thriving, was suddenly at risk of collapsing.
Sharing her story, Thakwalakwa complained that she saw her dreams being shattered after the crisis, until the Bank came to her rescue.
“I felt like my world was crumbling around me as I had invested so much, and with the Cyclone, everything was gone. I didn’t know how to rebuild myself. Instead of giving up, I started to look for ways in which l could grow my business, that’s when l reached out to NBM.”
“In 2023, l applied for a loan of K4 million which helped me build again my business. After l had paid off the loan, I upgraded to another K7 million loan which has boosted my business. Now, l supply my goods to several supermarkets across the Southern Region,” she shares.
Presently, Thakwalakwa has managed to purchase machinery that processes honey and rice, and employs 12 people in her growing business.
For another Nchalo-based powerhouse Grace Mlanga, her journey to success began in the online clothing business before she found her passion in agriculture.
Pivoting from fashion to farming, Grace now supplies maize, beans, and other legumes to secondary schools, a business that is growing rapidly.
“The clothing business was operating online, and it was moving slow, hence I needed more. When I discovered the potential in agriculture, I knew I had to make the switch. However, I needed capital to start and that’s when I approached NBM plc and got a loan of K2 million in 2023,” says Mlanga.
With the loan she accessed, she switched into a rapidly growing market.
“Unlike in the early days, when I struggled due to limited capital and low income, I can now meet the demands of my customers,” she shares.
She says the loan has transformed her business, allowing her to supply healthy and nutritious produce to schools, making her feed the future generation while making profits at the same time.
“I never thought I would be here today, I am proud of what I have built, and none of this would have been possible without the Bank’s support. It has been a game-changer for me,” reveals Grace.
In Nchalo again, is Grace Kalidozo, whose entrepreneurial journey began in the electronics sector.
However, the nature of the electronics business is slow moving, so while still operating that business, she wanted a business with more and faster returns.
She too benefited from the NBM plc’s ‘Amai Angathe’ loan, which provided the platform she needed to expand her business and start selling maize and maize flour at Nchalo Market.
“The loan from the bank allowed me to add another business to my operating business model and start selling maize and maize flour at Nchalo market,” she informs.
After her first loan of K2 million, Kalidozo’s business took off, and in the same year she upgraded to K5 million loan. By 2024, she was granted another K7 million, which enabled her to scale up her maize production and distribution.
“With the additional loans, I was able to expand my stock and reach a larger customer base. I am now able to serve the entire Nchalo market, and I have a steady income. It feels like my business is finally on the right path,” Kalidozo explains, beaming with pride.
The bank’s commitment goes beyond supporting women in agri-business, it also empowers female entrepreneurs across diverse industries.
In Blantyre’s Chilobwe township, you will meet Gloria Unyolo, a prime example of this expanded vision.
Unyolo, who began her journey in the second-hand clothing business, is now the founder and director of Gracious Private Academy.
Like many ambitious entrepreneurs, she has always dreamed big and aspired to own a private school.
After her business began to grow, she started to face challenges in her operations for the academy, including the need for better infrastructure, more staff members, and additional learning materials to accommodate the increasing number of students.
These growing demands prompted her to seek further financial support, which she found through the ‘Amai Angathe’ loan, allowing her to expand and enhance the academy’s facilities.
“I initially received a loan of K5 million, which I was able to repay quickly. This success enabled me to apply for a second loan of K7 million.”
“With the loan I have managed to add classroom blocks. Before, I used to borrow money from friends, which l was supposed to pay back within 30 days, but now I can get a loan and pay little by little while my projects are progressing,” she explains.
NBM Plc Marketing and Corporate Affairs Manager for NBM Plc, Akossa Hiwa, highlights the Bank’s ongoing commitment to supporting women in business through such products.
“We believe that empowering women is the key to fostering sustainable growth and development. The ‘Amai Angathe’ loan product offering was created to provide women with the financial support they need to realize their full potential. This is perfectly aligned to this year’s International Women’s Day theme of ‘Accelerating-Action’.”
“Our focus is on creating opportunities for women to succeed in business, and we are happy with the impact that this service has had on the lives of entrepreneurs. These women are not just building businesses; they are also creating jobs and driving economic growth,” she explains.
