Kaipa giving cash to one of their clients who survived during the floods in Nsanje District
By Martin Chiwanda
Micro-Loan Foundation has writen-off about MK10 million loan on its clients who were affected by March 2019 water flooding in two Lower Shire districts and Phalombe.
The financial service institution’s Chief Operations Manager, Joseph Kaipa revealed the news in an interview Tuesday.
Kaipa said 850 clients were affected by floods and had loan to the tune of over K10 million. He said those people were affected by the floods as well as their economic status.
He said as an institution, they decided to write off the loan as social responsibility in times of challenges.
“As an organisation, we save people. Therefore, when our clients are in trouble then we are supposed to come in and see how best we can take them out,” said Kaipa.
The chief operations manager further revealed that his institution also gave out K20, 000 to each of their clients whose houses were damaged so that they can use it for buying building materials.
He, however, warned his officers against collecting the loans which have been written off saying they will be dismissed and then face the law.
Tamala Bisenti, 33, from Tambo Village in Traditional Authority Mbenje in Nsanje applauded the Micro-Loan Foundation for the cancellation of their debt and also for giving them starter packs to re-start their life after the floods.
“We are humbled with the gesture shown by the Micro–Loan Foundation. We did not expect that to happen to us. It has shown that it is here to assist us in uplifting our economic status,” said Bisenti.
The three districts in which Micro-Loan Foundation has cancelled loans to its clients are Nsanje, Chikwawa and Phalombe.