15 Malawians get millions in loans from the African Funding Tour

By Phillip Dzikanyanga

Courageous USA in collaboration with the Timeless Women of Wonder (T-WOW) on Friday provided loans, ranging from K20 million to over K60 million, to 15 Malawians  whose business ideas proved more viable after a pitch which was done virtually in Lilongwe.

The 15 who include three women were picked out of over 70 candidates who also presented their business ideas in an initiative dubbed the African Funding Tour (AFT) manned by Courageous USA and T-WOW, investors based in the Unites States of America and Kenya respectively.

Speaking after unveiling the successful candidates, T-WOW Malawi chapter coordinator Nasreen Khonat expressed gratitude to the investors for incorporating Malawi to be among the 6 African countries benefiting from the African Funding Tour of 2020.

“This open-door opportunity can only be possible through God, we thank Courageous USA and T-WOW Kenyan team for the deep interests in changing lives and empowering them through divine financial connections, we do not take that for granted,” she said.

Khonat also encouraged the successful candidates to put the money into the intended purposes for them to improve and grow their businesses and experience the social economic transformation.

Speaking from Kenya, T-WOW Chief Executive Officer, Nyakhani June said her organisation’s wish is to see the wellbeing of people improved and Africa developing and becoming the global investment hub.

“We cannot talk of development if we are not creating a conducive environment for entrepreneurs to have their businesses flourish. That is why as T-WOW, we are coming in to help largely the Small and Medium Enterprises (SME’s) grow into big and profitable ventures because we believe that the SME’s are the drivers of any economy” She said

Nyakhani June also thanked the Government of Malawi for opening up and creating a good environment for the operations of T-WOW and Courageous USA.

In her reaction, Mrs N Mlozi who is to get a loan amounting to MK60 million said she will put the money into right use so that upon successfully repaying the loan others should also benefit.

“I am very excited to have succeeded, the competition was too stiff but God helped me through to this stage. This loan will transform my life, that of my family and everybody around me particularly those I will employ,” said Mlozi who does a tailoring and fashion designing business in Lilongwe.

Mlozi also took time to encourage other women doing businesses to keep working hard and never look down on themselves but rather search for opportunities that will help improve their lives.

Currently, citizens from 6 African countries including Malawi, Kenya, Rwanda, Botswana, Zambia and South Africa are expected to benefit from the African Funding Tour of 2020.

In Malawi, the 15 successful applicants have been given loans ranging from MK20 million to MK1 billion. The next cohort is expected to be considered in 2021.

The African Funding Tour exist to support, equip and empower African enterprises for economic and social transformation and to contribute to Africa’s economic growth.