At AC Consulting, we believe that empowering women in business means equipping them with the tools and knowledge necessary to thrive in a fast evolving digital economy. On Friday, our Digital Financial Services Team Leader, Dr. Ella Kangaude, led an impactful interaction session with members of the Common Market for Eastern and Southern Africa – Federation of Women in Business (COMFWB), Malawi Chapter. The focus of the session was clear: it’s time for women entrepreneurs to embrace digital banking and electronic transaction systems to streamline their businesses, enhance financial security, and reduce operational costs.
The Urgent Need for a Digital Shift
As Dr. Kangaude highlighted during her address, the traditional practice of carrying large sums of cash exposes businesspeople particularly women to high risks of theft, fraud, and even loss of life. Embracing digital financial systems can drastically reduce these risks.
“With digital transactions, people will no longer be carrying huge sums of cash to and from the bank. Women, in particular, have suffered due to such practices. It’s time to shift,” she emphasized.
Digital financing doesn’t just enhance safety. It also opens up a world of convenience. Entrepreneurs can manage business and personal finances, pay utility bills, and perform other critical transactions right from the comfort of their homes or offices—saving both time and transport costs.
Building a Future-Ready Business Ecosystem
The session brought together influential female business leaders who are already making waves in Malawi’s economy. COMFWB National Chairperson Sellina Mwenelupembe thanked the government for fostering a digital finance ecosystem, noting that it positions Malawi to be part of the global digital economy.
“As a federation promoting cross border business, digital financing is vital for our members. It enables secure and seamless transactions as they trade with partners across the region,” said Mwenelupembe.
However, she also urged both the government and digital service providers to prioritize investments in ICT infrastructure, especially in border regions where poor connectivity continues to hinder digital growth.
A Call to Service Providers: Improve the Environment
Clara Nanchinga, Executive Director of JIA Consultants, added her voice to the growing call for efficiency and trust in digital financial systems.
“A reliable system builds confidence. If we can ensure smooth, secure transactions, more people will adopt digital financial services, and the ecosystem will flourish,” she said.
AC Consulting: Supporting Malawi’s Digital Transformation
At AC Consulting, we are proud to be at the forefront of promoting financial inclusion through digital innovation. We continue to support awareness campaigns, training programs, and stakeholder engagement initiatives aimed at transforming Malawi’s financial landscape.
As the Ministry of Finance and the Reserve Bank of Malawi continue their efforts to educate and encourage the adoption of digital finance, we remain committed to providing the tools, knowledge, and support needed to make this vision a reality especially for women entrepreneurs who are the backbone of Malawi’s economy.
Join us in championing a secure, inclusive, and digital future for all.
