Oswin Kasunda: NBM plc Head of Retail Banking DivisionNational Bank of Malawi (NBM) plc has rolled out an insurance premium financing facility where the bank will pay annual insurance premiums on behalf of its customers thereby freeing up their cash flow in the process.

Announcing the introduction of the facility in Blantyre, NBM plc Head of Retail Banking Division Oswin Kasunda said the Insurance Premium Finance (IPF) product allows the bank to pay insurance premiums to the insurance company on behalf of the customer and grants a loan to the customer which is repaid in monthly instalments.

“The facility enables our customers both retail and corporate clients to pay their insurance premiums in instalments rather than in one lump sum amount. This facility has a low interest rate and allows the customer to spread the cost of insurance over the term of the loan,” said Kasunda.

NBM’s Jiya with Minister KazakoNational Bank of Malawi (NBM) plc has challenged the  information and communication  technology (ICT) entrepreneurs and young innovators to think globally and compete internationally.

NBM said it is ready to provide funding to help them realize their dreams of creating socio economic viability for their initiatives which will positively impact on their communities and the economy at large.

Speaking at the 2020 ICT Association of Malawi (ICTAM) conference on Friday in Mangochi, NBM plc Deputy Chief Executive Officer and Chief Commercial Officer Harold Jiya said NBM plc fully understands and appreciates the pivotal role that innovations and technology play in Malawi’s developmental agenda.

Kaunda speaks at the final draw

Listed National Bank of Malawi (NBM) plc on Tuesday made a final draw in the ‘Go Cashless and win’ promotion which it partnered retail shop giants Shoprite and PEP Stores to promote cashless transactions.

The two month long promotion saw people winning shopping vouchers from the two stores worth MK4 million when they paid for their goods using their NBM plc branded Visa debit cards.

Speaking in Blantyre at the end of the promotion, NBM plc Head of Digital Services William Kaunda hailed customers who are embracing the cashless culture saying with world changing trends, this is the way to go.

NBM staff pose with the some of the vetarans and MDF staff- photos by Benjamin Maona

National Bank of Malawi (NBM) Plc on Wednesday visited war veterans at their home in Zomba and donated goods worth K2.5 million.
The bank’s service centre manager for the district, Maureen Gwembere said the visit is part of celebrating the poppy week in the country which was observed a couple of weeks ago.

She said despite the Coronavirus (COVID-19) outbreak, there was need to fulfil the programme as it is done every year.

National Bank of Malawi (NBM) plc has donated K1 million towards the Institute of Bankers in Malawi's (IOBM) second Bankers Agribusiness Conference at Bingu International Convention Centre (BICC) in Lilongwe from December 3-4.

Speaking during the cheque handover ceremony Blantyre on Monday, NBM Treasury Sales Manager, Grace Phiri said they supported the conference because it is going to provide an opportunity to engage with other key stakeholders and establish linkages in the agricultural production value chain.

National Bank of Malawi (NBM) plc  supported the Institute of Chartered Accountants' (ICAM) conference with K3 million. ICAM is set to host the conference in Mangochi between November 12-15 under the theme “Prudent financial management- Key to business resilience”.

Speaking during the cheque handover on Wednesday, NBM Chief Finance Officer (CFO), Masauko Katsala said they felt the need to help because the conference offers a great opportunity for accountants to share ideas.

National Bank of Malawi on Thursday introduced what it is calling the 'Farm Infrastructure and Implement loan facility'.

The Bank's business development manager Samuel Ngwira told journalists in Lilongwe, the loan is aimed at improving access to agricultural value-addition facilities.

"Agriculture is the mainstay of the country's economy and a source of employment. We would like to fuel the sector to achieve greater heights," said Ngwira.

*COVID-19 inspires mindset change among auditors
National Bank of Malawi (NBM) Plc has presented K1.5 million to the Institute of Internal Auditors (IIA) as it gears for its 2020 annual conference. Presenting the chequ on Monday Daniel Jere, NBM's Head of Internal Audit said banks employ auditors to secure their systems and provide assurance to its stakeholders regarding adequacy, effectiveness and corporate governance practices.