Old Mutual Unit Trust and TNM Mpamba on Tuesday relaunched MpambaFesa service after pausing the initiative last year. Returning to improve an investment and savings culture among Malawians, MpambaFesa is letting customers invest with small funds.

During the launch, TNM Mpamba General Manager, Chikhulupiliro Mphatso outlined that the service is convenient as the initiative has eliminated the signing of forms, so subscribers can register online. One can start saving with as low as K1, 000 and we have also taken away the bureaucracy of completing forms. It is also convenient because you can transact right at your fingertips any time of the day and information is readily available,” Mphatso said.

On the other hand, Old Mutual Unit Trust Managing Director, James Mhura, said people are afraid of investing because the money market fund mostly requires huge sums of capital investment. In 2016, launched MpambaFesa to make it easier for Malawians to participate in financial inclusion and build their personal wealth. Old Mutual Acting CEO Edith Jiya said Mpamba Fesa, which is linked to the life assurance’s Unit Trusts, offers higher interest yields compared to other investment products available in the Malawi market.