Blantyre, Malawi, August 30, 2024 – FINCA Malawi and Opportunity International Malawi are proud to announce the launch EduSmart, a groundbreaking education financial services package to support Malawi schools and families. The MK 1 billion investment will reach approximately 500 educational institutions and 3,000 families nationwide.

“In line with FINCA Malawi’s mission to end poverty through sustainable solutions, the EduSmart financing product is a first of its kind,” said Charles Bello of FINCA Malawi. “Schools operate based on the specific needs of children and families, and so our product will reflect those specificities and work in the context of the education space.”

EduSmart, designed to increase access to quality education across Malawi, is a combination of financial products and technical assistance services that will support educational institutions in covering operating expenses, infrastructure development, and other critical educational needs. The product is also available to parents and guardians, enabling them to finance their children’s education, making quality learning more accessible and affordable for all, especially low-income families.

“Our goal is to get more Malawian children into higher-quality schools,” said Richard Chongo, Executive Director of Opportunity International Malawi. “This partnership paves the way to a strong future for our children, our communities, and our economy.”

EduSmart is the first education financing initiative launched under the ongoing partnership between FINCA Malawi and Opportunity International, a collaboration that began in 2022. Together, these organizations have introduced innovative financial solutions that have empowered families to rise out of poverty. With EduSmart, FINCA Malawi continues to build on this success by enhancing the quality of education and expanding educational opportunities across the nation.

Key features of EduSmart include:

• Institutional Support: EduSmart loans will help educational institutions manage operational costs, improve infrastructure, and acquire essential assets like school buses and technological equipment.
• Parent and Student Support: Parents of students at all education levels can access EduSmart loans to finance school fees and other related expenses. Additionally, employed individuals seeking to further their studies will also be eligible for these loans.

About FINCA Malawi
FINCA Malawi is a microfinance institution committed to alleviating poverty through sustainable financial solutions. By offering a wide range of financial products and services, FINCA Malawi empowers individuals and communities to improve their economic conditions and achieve financial independence. They have been operating in Malawi for 30 years.

About Opportunity International

Opportunity International is a global non-profit that has been equipping people to build sustainable livelihoods and educate their children for 52 years. Opportunity provides 18.7 million families with innovative financial resources, training, and support to grow their small businesses and send their children to school. They have been operating in Malawi for over 12 years.