FIRST MICROFINANCE CENTRE LIMITED
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To become financial refuge for the active poor country wide. - Mthunzi Wa Aliyense.
To provide best microfinance services country wide delivered by well-motivated microfinance professionals.
We are committed to the active poor based in the rural communities in making poverty and hunger history through provision of microfinance services. We have a passion in invigorating the rural economies.
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Malawi Microfinance Industry is regulated by Reserve Bank of Malawi under Financial Services Act 2010 and Microfinance Act 2010. It has currently over 1,300,000 customers. FMC is a largest Micro credit agency in Malawi currently.
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Fully Compliant with ILO and Malawi government industrial occupation health and safety standards.
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Microfinance Institutions are subjected to Financial Services Act, Microfinance Act, Financial Crimes Act.
Katapila and Banki Mkhondes are the order of the day at most work places in the recent times. Katapila or money sharks would charge up to 100% interest per month while Banki Mkhondes demand between 25% - 50%. While formal banks offering pay day loans are charging between 20% - 30% per month, FMC pay day loan is designed and meant to rescue employees from this trap.
The facility is available to permanently employed staff. The emergency advance is available for all emergencies including medical bills short falls, funerals, school fees etc. Employee is legible to get a one-month salary recoverable in 3 months at 10% per month calculated on declining balance. There is no processing fees or any other charges on this facility. Debt Service capacity is not considered on submission of this application.
The facility is available to all employees and the method of application is the equivalent or multiples of the House Allowance an organization pays to the employee ie staff are getting the House Allowance in Advance under House Rental Advances. The House Rental Advances attract 10% per month calculated on declining balance.
The facility is designed to assist working class at whatever level to help themselves improve their living standards in a such a manner that they can acquire necessary consumer durables enabling them lead a descent and comfortable life. On the part of the employer, the facility’s is meant to entirely relieve him of the cash flow and management burden of Personal Loans or staff loans generally. It is ideally designed for consumer durables purchase like Sofa sets, dining sets, Display Cabinets, Fridges, Cookers, TV screens and decorders, motor vehicles etc. Personal loans are recoverable in maximum period of 72 months.
The facility is designed to assist serving civil servants help themselves improve their living standards in a such a manner that they can acquire necessary consumer durables enabling them lead a descent and comfortable life. It is ideally designed for purchased of consumer durables like Sofa sets, dining sets, Display Cabinets, Fridges, Cookers, TV screens and decorders, motor vehicles etc. Civil Servants loans are recoverable in maximum period of 72 months.
The facility is designed to assist public servants own a decent home of their own. The public servant must own the requisite land demarcated and approved by local authorities for residential purposes. The public servant must have valid title to the land. First Microfinance Centre will construct the house and hand it over to the public servant. The recovery period is maximum 20 years or period chosen by the borrower depending upon affordability. The employer must guarantee the facility and undertake to deduct and remit monthly loan repayments to First Microfinance Centre Ltd designated bank account.
We are deeply committed to serving the active poor living in rural communities, with a mission to eradicate poverty and hunger through the provision of accessible and sustainable microfinance services. Our focus is on empowering individuals and households by giving them the financial tools, resources, and guidance needed to create meaningful and lasting economic opportunities.
We are passionate about revitalizing rural economies, fostering entrepreneurship, and promoting self-reliance. By supporting small-scale farmers, artisans, and local business owners, we aim to stimulate growth, enhance productivity, and build resilient communities. Our dedication goes beyond financial assistance; we strive to provide mentorship, training, and innovative solutions that enable rural populations to break the cycle of poverty and achieve long-term prosperity.
Through our efforts, we envision thriving rural communities where economic stability, food security, and social well-being are not just aspirations but realities for all.
We remain fully accountable to our customers, shareholders, partners, and employees by consistently honouring the commitments we make and by striving to deliver tangible, measurable results. Our accountability is reflected in our dedication to transparency, ethical practices, and operational excellence in every aspect of our business.
We continuously work to ensure that every interaction, transaction, and decision upholds the trust placed in us by our stakeholders. By providing high-quality services and solutions, we aim not only to meet but to exceed expectations, fostering long-term relationships built on reliability, integrity, and mutual respect.
We believe that honoring these principles leads to not only ethical and responsible decision-making but also sustainable growth, societal impact, and shared prosperity for the communities we touch
As a company, and as individuals, we firmly uphold the principles of integrity, honesty, and openness in every aspect of our operations and interactions. We believe that ethical behavior is the foundation of trust and credibility, both within our organization and with the communities, customers, and partners we serve.
Personal excellence is at the heart of our culture; we encourage every member of our team to pursue their highest potential, continually striving to improve skills, knowledge, and performance. We embrace constructive self-criticism as a powerful tool for growth, understanding that learning from our challenges and mistakes is essential to achieving long-term success.
Continual self-improvement is not only a personal pursuit but a collective commitment that drives innovation, efficiency, and quality in all we do. Mutual respect guides our interactions across all levels—between colleagues, clients, partners, and stakeholders—ensuring that every engagement is conducted with fairness, empathy, and understanding.
By embedding these values into our everyday practices, we cultivate an organizational culture that inspires confidence, fosters collaboration, and builds lasting relationships.
