National Bank of Malawi Plc said that the cost of credit on the local market remains high for the majority of the Malawians including the youth.

NBM Chief Executive Officer Mcfussy Kawawa was speaking in Lilongwe on the sidelines of an interface with young entrepreneurs

Kawawa said that although the cost of borrowing has been coming down in recent years, it remains on the higher side.

He said there was an action which NBM has taken to make the cost of borrowing cheaper.

National Bank of Malawi plc says it is committed to providing training in business management and banking discipline to promote entrepreneurship among the youth.

The CEO Mcfussy Kawawa made the commitment in Blantyre when the Malawi Stock Exchange ( MSE) listed bank held a youth entrepreneurs training and interaction under the theme ‘’ nurturing the youth through smart collaboration with NBM.’’

He said 80 percent of the population is below 35 years and is lacking basic opportunities to develop potential while commercial banks have concentrated the remaining 20 percent which is denominated by the corporate customers and established businesses.

National bank of Malawi plc, launched a product targeting women entrepreneurs, offering them a window to access loans up to K5 million without collateral.

NBM chief executive officer, Macfussy Kawawa, said the window has been created following requests from clients most of whom said were failing to access funds due to lack of collateral.

‘’We know that women have capabilities to do business but perhaps, sometimes they ae underated and we thought we should give them a special attention to serve them better. We have created a web portal through which customers will be sharing information, business ideas and so on.’’ Kawawa said.

National Bank of Malawi NBM plc gave K7.4m to 20 needy students from the Polytechnic a constituent college of the University of Malawi to cover for their tuition fees.

This follows the appeal by the Alumni Association to the Malawi Stock Exchange listed bank to help 105 students at the polytechnic in need of help.

NBM Head of Human Capital Division Charles Dulira said the bank wants to ensure that the students fulfil their ambitions in life.

National Bank of Malawi (NBM) plc says it will continue supporting education because it believes in investing in the sector.

The Bank’s Chief Executive Officer Mcfussy Kawawa said this after handling 152 desks and chairs worth K6 million to Nkhotakota Secondary School.

The donation was made in response to a plea by the bank’s retired employee who is also an alumnus of the school.

Kawawa said being a Malawian financial Institution, National Bank felt obliged to make the donation to ensure that the youth attain education in a conducive environment.

National Bank of Malawi (NBM) plc has urged women entrepreneurs to pay attention to detail and be systematic in their quest to remain competitive and grow their businesses on the market.

NBM head of personal and business banking division Oswin Kasunda made the call on Friday at a training that the bank organized for women entrepreneurs.

This is one of the events that the bank has been holding to empower women in business.

Following heavy rainfall and storm in March which caused heavy flooding and other forms of damage, mostly affecting the southern region of the country, the government on 8^th March formally declared Malawi to be in a state of national disaster and sent out an appeal for relief items. The devastating heavy rains and floods displaced many households and reportedly killed more than 56 people.

In response to the appeal National Bank of Malawi plc on Tuesday, 16^th April donated assorted relief items, food and non-food items, valued at K20.0 million to the victims through the Minister of Homeland Security, Hon Nicholas Dausi.

The Bank’s donation will go towards the affected people in Dedza, Mangochi and Mwanza.

The catchphrase for the Mo626 College Basketball final games was ‘the madness continues’ and oh yes it did for invincible Malawi College of Accountancy (MCA)-Lilongwe Campus men’s side which retained the honours in spectacular fashion on Saturday.

New kids on the block Zomba Institute of Management and Accountancy (Zima) did it in ladies category during contests that charmed the turnout at Chancellor College’s Chirunga court in Zomba.

MCA Lilongwe Campus beat hosts Chanco Hawks 53-46 while Zima saw-off Malawi Assemblies of God University (Magu) 62-56. In third-place matches, Poly Wildcats edged Magu 61-60 in men’s section while Poly Ladies beat Bunda 46-42.

The scenes after the final whistle of the men’s final were a wonder to behold as MCA turned the arena into a theatre of celebrations as the hosts trooped off in disappointment.