A journey started by $1 loan

Agnes Chitsotso is among the few longest serving clients of FINCA, who joined the microfinance deposit-taking institution when it was just introduced in Malawi. Agnes acquired her first loan of US$1 currently equivalent to MK715 in 1994, and she is borrowing money from FINCA up-to-date.

“I praise FINCA for its wonderful contribution in my life. I have seen FINCA staff come and go. I was part of FINCA during its worse times of economy, and I am part of its success story,” said Agnes.

Agnes has educated all her six children with earnings from FINCA loans, all of whom have their own families. She nurtures four grandchildren who she took from her children to maintain her house, which had been deserted.

Agnes, who got married in 1974, started the business of selling vegetables, carrot, Irish potato and tomato as early as 1980s, the businesses that she maintains up-to-date.

Besides successfully educating her children with earnings from her business, Agnes has constructed two decent and modern houses, and she pays tuition fees for her four grandchildren, including providing food for the family since her husband retired from work long time ago, and he is just staying at home.

Although aging, Agnes has a vision to start cross border trade, dealing in clothes and other items.