There was pomp and glamour over the weekend when National Bank of Malawi (Plc) launched the fourth edition of Mo626 College Basketball with prizes upped for both male and female categories.

Prize money for the winners, runners-up and third-placed teams have gone up to K5 million, K3 million and K2 million respectively, from the initial K2.5 million, K1.5 million and K750,000.

This follows NBM's renewed commitment to the sport as it unveiled a K450 million three-year sponsorship package for the competition from the previous K63 million last year.

Out of the K150 million annual sponsorship package, K50 million has been allocated to court facelifts at selected participating colleges, with the University of Malawi and Lilongwe University of Agriculture and Natural Resources (LUANAR) benefitting this year.

AKOSSA HIWA (left) HAYZE ENGOLA (right)

National Bank of Malawi (NBM) Plc has unveiled musician and entrepreneur Hayze Engola as Mo626 College Basketball Ambassador.

The unveiling comes ahead of the launch of the fourth edition of the NBM plc sponsored Mo626 College Basketball tournament which rolls out this Saturday.

Speaking during the unveiling ceremony at NBM Towers on Thursday, Marketing and Corporate Affairs Manager Akossa Hiwa said this is the first time the Bank has a Brand Ambassador for any of its products and services, adding his coming in will not only promote basketball, and the Bank’s products but also share the core values by demonstrating the importance of integrity, innovation and youth entrepreneurship in today’s world.

The fourth season of the Mo626 College Basketball returns to action with an expected frenzied launch at the Kamuzu University of Health Sciences (KUHES) Sports Complex in Blantyre on Saturday.

Sponsors National Bank of Malawi (NBM) plc have pumped in K150 million per season for four seasons.

NBM Marketing and Corporate Affairs Manager Akossa Hiwa, in an interview Monday, said they would renovate basketball courts to make the season more thrilling.

National Bank of Malawi (NBM) Plc has disbursed about MK1 billion in loans to vendors from Blantyre, Zomba, Lilongwe, and Mzuzu through Taoloka Finance since its onset in September last year.

NBM plc Head of Retail Banking Oswin Kasunda disclosed this during the Bank’s interaction with vendors in Zomba on Wednesday, September 6, 2013.

According to Kasunda, the response for the vendors has been good as the Bank managed to open 1100 new accounts for vendors, hence the interaction to give them feedback on how the Taoloka Finance has performed.

National Bank of Malawi (NBM) plc has given K5 million to Blantyre Sports Club to support the renovation of the hall at the facility.

Speaking during the cheque handover ceremony on Wednesday, NBM Marketing and Corporate Affairs Manager, Akossa Hiwa said the Bank recognizes the importance of sports clubs in the society and it is committed to supporting their growth and development.

National Bank of Malawi (NBM) Plc has registered an increase in the half year profit after tax ending June 30, 2023 to K35.48 billion from K22.12 billion reported in the same period last year, which represents 60 percent growth.

According to the financial statement released by the Bank, signed by Board Chairperson, Jimmy Lipunga, Chief Executive Officer (CEO) McFussy Kawawa, Chief Financial Officer (CFO) Masauko Katsala, and Board Director Dorothy Ngwira the results were driven by growth in both net interest income and other income which grew by 25 percent and 87 percent respectively.

Malawi Stock Exchange-listed National Bank of Malawi (NBM) plc has reaffirmed its commitment to contributing towards the national financial inclusion agenda.

The bank has since launched a new social media campaign called ‘Two Truths and One Myth’ aimed at educating the youth on finance.

The campaign comes a few days after the bank wound up its Independence Trivia through the same channel.

Kawawa-We will carry on with this partnership

National Bank of Malawi Plc says there is notable growth in terms of membership of village banks that are opening accounts and seeking financing with the Bank disclosing that so far K10.7 billion has been disbursed to Kasupe customers.

Speaking during an interaction with the village banks through Kasupe Finance partnership on Thursday in Blantyre, the Bank’s Chief Executive Officer Mcfussy Kawawa said the Bank is making a significant contribution to the financial inclusion agenda by disbursing loans through village banks.