MP for Likoma Asks FDH to Provide Loans to Islanders
FDH Bank is the first commercial bank to open a branch in Likoma District.
LIKOMA, Malawi - The Member of Parliament for Likoma, Christopher Ashems Songwe, has called on FDH Bank to offer soft loans to residents of the island district to spur development during the official opening of the bank's first branch there on Monday, writes Oliver Malibisa.
Songwe urged the bank to make loans accessible to islanders during the launch ceremony attended by Finance Minister Simplex Chithyola Banda.
The MP also asked the minister to utilize FDH for all government transactions in Likoma.
"I'm appealing to FDH Bank to offer soft loans to the people of Likoma for the continued development of the district," Songwe said.
"I also ask the Minister of Finance, who is here present, to take advantage of this bank for all government transactions."
Songwe further requested that the government lobby other banks to establish a commercial presence in the island district.
Minister Banda hailed the opening of FDH's Likoma branch, stating it will boost the island's economy and tourism profile.
"Likoma remains one of the most marketable tourism districts, and the opening of this bank is a booster for the district's economy," he said.
Banda added that FDH's arrival could pave the way for other banks to enter the Likoma market.
As part of its corporate social responsibility efforts, FDH donated K2 million to Likoma Secondary School and another K3 million towards health initiatives in the district during the launch event.
FDH Bank is the first commercial bank to open a branch in Likoma District.