Helping small businesses grow in Malawi

In 2015, IFC and the Government of Malawi launched the collateral registry, which is an online system to register moveable collateral used for loans. Thanks to the collateral registry, banks can now safely lend to a whole new customer base – customers who were previously excluded from formal credit because they didn’t meet the collateral requirements of financial institutions.

Since 2015, nearly 16,000 micro, small, and medium-sized businesses were able to access financing through the collateral registry.

The Malawi Collateral Registry project was implemented by the World Bank Group’s Finance, Competitiveness, and Innovation Global Practice. The project received support from the governments of Denmark, Ireland, the Netherlands, and Norway through IFC’s Conflict Affected States in Africa program, an initiative to support private sector growth in Africa’s fragile and conflict-affected situations; and from the United Kingdom’s Department for International Development (DFID).

Original source: IFC
Published on 6 November 2018