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Banks in Malawi Embrace Compliance Training on Mobile Asset-Based Lending

The Department of Registrar General (DRG) in the Ministry of Justice and Constitutional Affairs, in collaboration with the World Bank Group, has concluded a three-day training on movable asset-based lending for financial institutions in Malawi. The workshop was held at Ryalls Hotel in Blantyre from April 24 to 26, bringing together 60 participants from 11 banks, eight microfinance institutions, and the Reserve Bank of Malawi.

Training Objectives

The training aimed to equip financial institutions with skills on movable asset finance and pertinent stages of companies’ working capital cycle. Participants were introduced to different techniques of financing that can be utilized, including interactive sessions involving case studies and simulations on how different Malawian industries can be financed in line with the different techniques and principles of movable asset-based lending.

Importance of Movable Asset-Based Lending

Movable asset-based lending has been a key strategy for increasing access to finance for Small and Medium Scale Enterprises (SMEs) in Malawi. The Malawi Personal Property Security Registry (PPSR), also known as the Collateral Registry, became operational in November 2015 and has facilitated MK30.5 billion in lending to SMEs between January 2016 and March 2017.

Key Takeaways

• Participants expressed their appreciation for the training, saying it has been useful in equipping them with new skills on factoring and asset-based lending.
• The strong attendance and excellent discussions during the three-day training demonstrate a high level of interest from financial institutions to explore opportunities for movable lending and leverage the best practice collateral registry that is being managed.

Future Collaboration

The training is part of a broader effort by the Department of Registrar General and World Bank Group to promote financial access to SMEs and engage SMEs directly as part of these efforts. The two organizations will continue working closely with financial institutions to foster an environment that supports movable collateral lending, which has the potential to improve the financial performance of SMEs while enhancing the profitability of financial institutions.

Key Participants

• Mr. Richard Dimba, Credit Manager (SMEs and Agriculture) at Opportunity International Bank Malawi
• Ms. Kondana Kamsesa, Accountant, Greenwing Capital
• Mr. Sam Kamkosi, Head of Credit, New Finance Bank
• Mr. Sam Kayesera, Consultant (Asset Finance), National Bank of Malawi