The investment is aimed at improving access to credit for low-income public sector workers who are usually excluded from formal banking systems.

The three southern African countries continue to face serious economic challenges, including limited job opportunities, inadequate healthcare and education systems, and growing pressure from climate-related shocks. With international aid becoming less predictable, many households have struggled to sustain livelihoods or fund small-scale ventures.

Swedfund’s new funding seeks to close this gap by enabling more civil servants to access personal and business loans that support daily living and small enterprise growth. According to the organisation, these loans are not just about access to money but about fostering resilience and stimulating community-level economic development.

“With this loan we increase the possibilities for low-income individuals to secure financing that supports their livelihoods and productive activities, such as starting a small side business, expanding farming, covering education costs or building a house. This contributes to human development for many families and, in turn, fosters potential for local economic growth and more jobs,” said Jane Niedra, investment director of Financial Inclusion at Swedfund.

Select Africa’s customer base largely consists of civil servants, including teachers, nurses, and local administrators, who often find it difficult to obtain loans from traditional banks due to perceived high risk or lack of collateral. The company provides payroll-based lending, allowing borrowers to repay directly from their salaries, reducing default risk and enabling them to build a formal credit history over time.

Founded in 1999 with its first branch in Eswatini, Select Africa has since expanded its footprint across Lesotho, Malawi, Uganda, and Kenya. The Group now operates 19 branches and manages a gross loan book of about $108 million.

Through this partnership, Swedfund and Select Africa aim to unlock opportunities for thousands of underserved public workers, strengthening household incomes, encouraging entrepreneurship, and supporting the broader financial inclusion agenda in sub-Saharan Africa.

Customers can continue to use Send App to facilitate faster, easier, and more affordable cross-border money transfers into Malawi.

Send App offers all customer segments in the country the opportunity to receive money on both mobile apps and web devices.

Customers benefit from favourable exchange rates, 24/7 in-app assistance, and a dedicated support team.

It also relies on the same highest global security standards Flutterwave uses for protecting the data and funds of the businesses it serves.

Building on the company’s recently acquired International Money Transfer Operators (IMTO) license from the  Reserve Bank of Malawi, this enhanced capacity makes it more convenient for Malawi residents and diasporan communities across the UK, US, and Europe to send money to any of the banks in the country through Send App.

Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave commented,

“At Flutterwave, we have always prided ourselves on our commitment to providing value where it is most needed. With Send App’s arrival and our knowledge of the crucial role remittances play in supporting the personal needs of individuals in Malawi, we are better positioned to support Malawians who want to receive money from the diaspora. This marks the beginning of an exciting journey of endless possibilities in Malawi, and we’ll continue innovating to make Send App available to as many people as possible who need it across the African continent.”

Adding to this, Lumbani Gondwe, Country Manager, Malawi said,

“Send App was built to connect families, friends, and loved ones seamlessly no matter the distance. Malawi, the heart of Africa, is a great country that thrives on such connections. With complete bank coverage and other integrations such as expanding our delivery options to include Mobile Money and Cash Pickup being actively worked, we are ready to facilitate affordable, quick, secure and seamless international money transfers for Malawians home and abroad.” he added.

Relaunched in 2023 with expanded access to support transfers from the US and Canada, Send App has been fulfilling its mission of strengthening the bonds between Africans in the diaspora and their families and loved ones at home.

By offering its comprehensive remittance service to cater to diverse customer needs in Malawi, Flutterwave continues to reinforce its position as a trusted partner for cross-border payment solutions in Africa and beyond.

Key takeaways from the study

• Globally, there were 76 new internet restrictions in 2023. 17 of them happened in Africa.
• Senegal imposed the highest number of restrictions in Africa — 5. The restrictions happened following the sentencing of opposition leader Ousmane Sonko.
• Zimbabwe, Gabon and Chad imposed restrictions amid elections.

Surfshark’s internet shutdown yearly recap reveals that Africa was the second most intensive continent in internet restrictions (behind Asia) in 2023. Most internet freedom violations in Africa happened in 4 countries: Senegal (5 cases), Ethiopia, Guinea, and Mauritania (2 cases each).

“Internet shutdowns are commonly used by autocratic regimes to hinder communications, thwart protest organization, and cut people off from loved ones in times of political unrest. During elections, internet restrictions limit the spread of information about candidates, eroding the democratic integrity of elections. Furthermore, amid violent government crackdowns, internet blackouts can effectively prevent the dissemination of critical information regarding human rights abuses to the international community. The increasingly frequent use of internet shutdowns threatens the global foundation of free speech and human rights, dangerously tipping the scale towards oppression and away from democratic accountability.”, says Lina Survila, Surfshark spokeswoman.

Senegal imposed the highest number of restrictions in Africa — 5 

The Senegalese government imposed internet restrictions following the sentencing of  opposition leader Ousmane Sonko. Measures included limiting access to social media platforms and an internet curfew during the summer.

In Ethiopia, access to platforms like YouTube, Facebook, Telegram, and TikTok was restricted in response to protests against the government’s attempt to split the Ethiopian Orthodox Church. Guinea and Mauritania also imposed restrictions amid protests and political tensions.

Zimbabwe, Gabon and Chad imposed restrictions amid elections. Somalia, Sudan and Tanzania imposed restrictions amid political tensions as well.

In 2024, elections are scheduled for Mali, Malawi, Chad, and Mauritania. All these countries have a history of internet restrictions during elections, making them vulnerable to further disruptions.

The Internet Censorship Tracker was developed by Surfshark in partnership with internet watchdog NetBlocks.

The research tracks partial and complete internet and social media shutdowns in 196 countries and territories from 2015 onwards.

[Featured Image Credit]