FDH Bank Plc has signed a five-year sponsorship agreement worth K1 billion with the Higher Education Students’ Loans and Grants Board (HESLGB) to support the deserving students in various universities across the country.
Speaking during the signing ceremony in Blantyre on Tuesday, FDH Bank Managing Director Noel Mkulichi said the bank’s investment in education reflects its commitment to making higher education accessible to Malawians.
“When deserving young Malawians are unable to pursue higher education because of financial barriers, our country loses more than students,“ said Mkulichi.
Added Mkulichi: “We exist to create opportunities, empower communities and contribute meaningfully to Malawi’s socio-economic development,” said Mkulichi.
He commended the board for its work over the years, saying many Malawians have benefitted from the students’ loans programme and expressing confidence that the partnership will assist even more students.
“Many of them are now professionals making valuable contributions to our economy.
“The young people who benefit from this partnership will not only build successful careers, they are going to shape the future of our nation,” said Mkulichi.
HESLGB Acting Executive Director Patrick Mphepo welcomed the sponsorship, saying it will help diversify the board’s funding portfolio.
“We do not have to entirely rely on government financing.
“If private sector partners come on board, we can make this institution more sustainable and help many more students than in the past,” said Mphepo.
Mphepo also appealed to other organisations to support deserving students, noting that the board has received more than 46,000 loan applications during the current application cycle.
“Many of them are now professionals making valuable contributions to our economy.”
Noel Mkulichi
FDH Bank Managing Director
