FDH Bank Plc has entered a K2 Billion partnership with Innobuild Private Limited that will foster growth for Malawians by facilitating acquisition of land.
Speaking in an interview, FDH Bank Plc Head of Personal and Investment Banking Kawawa Msapato said the bank believes in growth has and partnered with Innobuild to support Malawians to acquire land.
He said: “The Bank has started offering Malawians with credit facilities worth K2 Billion to empower them to acquire land in Lilongwe. The partnership will enable Malawians to own land in prime locations in line with the bank’s mission of facilitating and making growth possible.
“The offer is open to both FDH Bank Plc and non-FDH Bank Plc customers and interested customers are required to secure a land allocation with Innobuild who will then recommend them to the bank for a credit facility. As a key player in the financial sector and a partner in the development of the country, we believe that supporting initiatives such as this will in the long term foster growth and economic empowerment.”
Innobuild chief executive officer Billy Chiwotha said the company observed challenges Malawians face to access land access in prime locations.
“Most of the prime land is already largely occupied by a few individuals thereby hindering other Malawians from access despite having financial ability to acquire it. Bearing in mind of general levels of income of most Malawians and comparing with the prevailing prices of land in prime locations; most of them cannot afford to amass the needed upfront payments for such land hence denying them a chance to own land,” he said.