Last week, the DIC engaged 75 members of the Association of Business Journalists (ABJ) in Blantyre, Lilongwe and Mzuzu through a series of interactive workshops as part of its going public awareness program aimed at enhancing public understanding deposit insurance scheme in Malawi. The workshops were designed to equip journalists with accurate and reliable information on deposit insurance to enable them to effectively communicate key messages to the public. Participants were encouraged to promote financial inclusion by highlighting the importance of keeping money in formal financial institutions and raising awareness of the protection available under the deposit insurance scheme.
A key message from the workshop was that eligible deposits held in member institutions are protected under the deposit insurance scheme in the event of a bank failure. Increased public awareness of this protection can strengthen confidence in the financial system and encourage greater participation in formal banking channels.
The sessions also sought to enhance public understanding and confidence in Malawi’s banking sector through improved financial reporting. The presentations covered the DIC Act, 2022, the Deposit Insurance Regulations and the Corporation’s ongoing public awareness initiatives. The engagement reaffirmed the DIC’s commitment to continuous collaboration with the media as a key stakeholder in promoting financial literacy and public confidence.
The Director General of the DIC, Mr Chitani Chigumula officially opened the workshops in Blantyre, who described the media as critical partners in advancing financial literacy and building public trust in the financial system. He emphasised that accurate reporting on Deposit Insurance plays a vital role in safeguarding depositor confidence and urged journalists to continue simplifying financial information for wider public understanding.
ABJ National Coordinator, Mr Arthur Chokhotho, expressed gratitude to the DIC for the engagement, noting that the sessions had deepened journalists’ understanding of deposit insurance and its role in protecting depositors. He highlighted that the training would significantly enhance the quality and accuracy of future reporting on the deposit insurance scheme. Through partnerships such as these, the DIC remains committed to increasing public awareness of deposit insurance, strengthening confidence in the banking sector, and contributing to financial stability in Malawi.
