Civil Servant Wins First Capital Bank Loan Promotion, Facilitating Property Ownership
Crivis Chirwa emerges as the overall winner of the First Capital Bank 'zangazanga' civil servants loan promotion, enabling property acquisition.
BLANTYRE, MALAWI — In its first capital bank (FCB) 'zangazanga' civil servant loan promotion, Crivis Chirwa, a civil servant from Mzuzu, has secured the top prize of K1 million, writes Steven Godfrey Mkweteza.
FCB's Head of Marketing, Twikale Chirwa, expressed delight at the promotion's remarkable response during an interview after conducting the grand draw in Blantyre.
"We are very excited indeed to see civil servants across the country who have been able to build houses, buy vehicles, and make other fixed assets and investments through this facility," said Chirwa.
The promotion aimed to incentivize existing customers seeking loan top-ups and attract potential clients to access FCB lending. It has resulted in approximately MK10 billion in disbursements since its March commencement.
Chirwa noted that the draw reflected a 99 percent default rate.
Throughout the three-month duration, customers consolidating and topping up their loans had the opportunity to win prizes such as gas cookers, solar panels, and consolation prizes.
Boniface Shawa, another civil servant, praised the loan facility as beneficial and accommodating, enabling easy access to funding from First Capital Bank.
"This loan, available to both existing and non-customers, is fast, flexible, and affordable, requiring no collateral as long as one is permanently employed by the government," Shawa remarked.
Shawa further highlighted the loan's expedited processing, which allowed him to purchase personal assets, pay for education, farm, and initiate business ventures within 48 hours.