DIC Empowers UNIMA Economics students with financial insights

As part of its efforts to equip students with the essential skills and knowledge required in the industry, the University of Malawi (UNIMA) fosters engagement between students and various stakeholders, offering opportunities for practical learning and skill development. Recently, on 18th October, 2024, UNIMA students, particularly members of the Economics Society, attended an awareness workshop hosted by the Deposit Insurance Corporation (DIC) at the Amaryllis International Hotel in Blantyre. The workshop aimed to deepen students’ understanding of the role of Deposit Insurance Corporation in safeguarding Malawi’s financial system.

The Deposit Insurance Corporation, a newly established parastatal, facilitated the event with various insightful presentations. Among them, the Director General of the DIC, Mr. Chitani Chigumula, delivered a key presentation that emphasized the importance of the Deposit Insurance Act of 2022. His session emphasized critical aspects of the Act and its role in promoting financial stability in Malawi. Following Mr. Chigumula’s address, the Operations Manager, Ms. Lowina Mwasigala, provided a comprehensive presentation on how the DIC has evolved into a crucial institution, ensuring that Malawi’s financial sector remains robust and resilient, especially during times of economic uncertainty.

The president of the Economics Society, Mr. Emmanuel George Banda, expressed his gratitude to the DIC for the valuable opportunity to learn from the corporation. He highlighted the vital role Economics students can play in supporting the DIC’s mission. “Collaboration between academia and financial institutions is important in enhancing economic literacy and contributing to the sustainable development of our nation’s financial sector,” he remarked.

Eighty-five students attended the workshop, and DIC officials were impressed by the students’ participation and attentive engagement throughout the session. The Economics Society continues to organize various events to broaden students’ knowledge and prepare them for the demands of the industry.