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Media key to unlocking people’s financial barriers in rural communities

Media key to unlocking people’s financial barriers in rural communities

By Lusekero Mhango

KARONGA-(MaraviPost)-Community Savings and Investment Promotion (COMSIP) has underscored the significant impact the media can play in strengthen financial inclusion among Community Based Financial Organizations (CBFOs), saying their involvement is key towards unlocking financial barriers among communities in the rural areas.

COMSIP project manager Ernest Jumbe made the call in Karonga during an orientation with members of the press from the district on the newly implemented Deepening financial inclusion through community based financial organizations project.

Jumbe said CBFOs are encountering a lot of challenges such as limited ability to pull large savings hence the media’s importance in the project.

“What among others that we want to address is the capacity gap of CBFOs in providing quality affordable financial services thus the media is key in the transfer of knowledge but also mindset change in the communities in the uptake of services and products,” he said

The project manager further, said among others the project will capacitate the groups to be able to afford but also produce financial products and services in serving their respective communities and membership hence the people will have a chance to access products such as savings and loans thereby deepening financial inclusion in their rural areas.

One of the participant from Malawi News Agency, Leonard Masauli, expressed gratitude to the organization for seeing it fit to involve the media in the implementation of the project.

He added to say the media’s role is pivotal in advocating for a better and affordable access to financial services considering majority of the people in the rural areas don’t have access to small loans to start up businesses.
“As a journalist our advocacy role will help to influence change in certain policies or decisions that impede the people’s financial growth,” Masauli articulated.

Comsip cooperative union limited through financial access to rural markets and smallholder enterprises (FARMSSE) with funding from international fund for agriculture development (IFAD) has implemented the 3-year project in eight districts namely, Karonga, Ntcheu, Neno, Mwanza, Zomba, Phalombe, Mulanje and Nsanje targeting about 9300 people in karonga and 75000 in total across the country.

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