As one way of ensuring quality service delivery, Nasi Enterprise Limited, a microfinance institution that is registered by the Reserve Bank of Malawi has held a three-day training for its officers in Lilongwe.
The training by the institution which has over 3000 clients across 16 districts in Malawi was attended by 26 loan officers.
Nasi operation Manager McEwen Champiti said the training was very important as it will help the team to serve their clients much better than before.
“We except the officers to have learnt and understood a lot more about credit risk management and the various ways how to deal with it. Since the company’s lending methodology is based on group lending, the officers should now be able to better screen their clients and make better assessments of their risk profiles. The officers will also be able to train their clients on the basics of financial education in a more efficient manner. In the end, we should be able to see better performances from the officers resulting in a more healthy loan portfolio.
“While the officers were already good at building rapport with their customers, they will now approach their markets in a more targeted and strategic manner that will maximise their return from the market. The financial education aspect of the training will help the officers train their customers with basic financial skills that the customers will be able to use in other areas of their lives and become more financially stable. Vitally, the officers have now upgraded their skill sets and improved their career prospects,” said Champiti.
He added that the main focus of the training was on credit control, risk management, financial education , loan products, pricing and procedures.
NASI Enterprise provides group loans to very low-end business people, particularly, people who sell everyday items such as tomatoes, potatoes, restaurants, and groceries among others.
NASI Enterprises targets these people because they are the most financially underserved section of the population. And they are regarded as very high risk so banks and the majority of other microfinance institutions do not serve them.
According to Champiti, NASI is also unique because it exists not just to make profits but also to financially empower vulnerable sections of the population that others do not regard and thereby contributing to Malawi’s economic development.
NASI is one of the real estate company Innobuild Limited subsidiaries and currently is working in 14 districts countrywide including all the major cities and business districts.