Some customers using Point-of-Sale (POS) machines at Chipiku Stores in Blantyre had a surprise of their day as FDH Bank plc spoiled them with 60 seconds Trolley Dash worth K300, 000 as part of a new promotion.

FDH Bank plc launched the ‘Swipe and Dash Promotion’ which will see all card holders who swipe using an FDH POS machine at Chipiku, Sana and other participating outlets standing a chance to win.

The Bank’s Managing Director, Noel Nkulichi said the aim is to promote usage of swipe machines as compared to hard cash.

“This is a competition where we want to sell our POS. We want our customers to be using our POS machines. Going forward we will be doing this campaign until December. Every month there will be two people winning K300,000 worth of shopping vouchers, four people winning K60,000 fuel vouchers, and the other four winning K60,000 shopping vouchers.”

“Using our POS machines is much easier and we want customers to embrace that,” he said.

One of the winners, Kelton Masangano said he is a regular POS machine user and never expected it could make him winner one day.

“I am so excited because when I came here I didn’t know there was a competition, so when I produced my FDH Bank card, the Managing Director approached me that I am the winner. I just encourage my friends to trust the competition and who knows they can be winners,” said Masangano.

Linda Kachisa, an NBS Bank customer also benefited from the promotion.

“I just thank God because I never expected this. I just came here as a customer to buy as I do always,” said Kachisa.

After swiping, customers will leave their receipts indicating their names and numbers in the Swipe and Dash box in the outlets.

National Bank of Malawi plc has launched a new product called ‘Taoloka’ which offers vendors across the country easy access to financial products and services including loans of up to K5 million.

Speaking during the launching ceremony held at Blantyre Market on Wednesday, NBM plc Chief Executive Officer (CEO) Mcfussy Kawawa said the Bank decided to introduce the product considering the cry for working capital by vendors.

“As the Bank of the Nation, we provide financial solutions to all Malawians and in this service offering, the urban vendors will have a chance of accessing unsecured short-term loans of up to K5 million with a maximum repayment period of three years. This product has been designed to offer lending and transactional products uniquely tailored to the needs of urban market vendors.

“This is also the Bank’s strategy to grow the Small and Medium Enterprise (SME) sector while supporting the government’s initiatives to achieve equitable access to banking services among small business owners through financial inclusion,” said Kawawa.

Inside the Taoloka product, urban market vendors will have an SME Savings account with a book balance of K2,500 and a current account with cheque book at 50% fee of a normal SME account.

They will also be granted access to premier mobile banking platform, the Mo626 Digital and our internet banking platform, the Banknet 360 all at a monthly fee of 50% of the normal fees.

“The urban vendors will have a specific Accounts Relationship Manager (ARM) or Accounts Relationship Officer (ARO) in their specific service centres to help them with the application process,” added Kawawa.

Chairperson of the Blantyre Vendors Association, Martin Matchengo commended NBM plc for the initiative saying for a long time they have been rebuffed by banks to access loans to boost their businesses.

“Most Banks require collateral from us which becomes a challenge. Where do we get cars, houses, and other things to be used as collateral when we are struggling to raise capital for our businesses? This has therefore come at the right time and we are ready Kuoloka ndi National Bank,” he said.

To be eligible for the loans, the vendors need to own a registered business, registered with the vendors association, have a physical location by city council, and evidence of ownership through rental payments receipts among other conditions.

Listed NBS Bank plc has recorded a half-year profit after tax jump from K4.4 billion to K5.1 billion representing a 16 % increase over the same period last year.

In a statement signed by NBS Bank plc board Chairman Vizenge Kumwenda, Director Matthews Mtumbuka, Chief Executive Officer (CEO) Kwanele Ngwenya, and Chief Finance Officer, Vera Zulu, the improvement, amidst the current environmental challenges, is due to flexibility in strategy implementation which has enabled the Bank to focus on high revenue generating activities.

“The Bank continues to deliver a positive performance, responding effectively to a difficult operating environment with renewed focus on building resilience and a solid platform for future growth. Having successfully completed the first 5-year strategy covering the period 2017 to 2021, the Bank is driving further growth through a new five-year strategy (2022-2026) to increase market share and enhance efficiency. The strategy, which is being delivered through a detailed road map with clear targets will deliver a superior digital offering and deeper customer engagement,” reads the statement.

The growth in profit-after-tax follows the growth in the profit-before-tax by 19 percent to K7.7 billion for the six months compared to a similar period in 2021 of K6.5 billion.

Growth of loan book and effective management of investments in money market instruments also improved net interest income by 23 percent to K18 billion compared to 2021 when it was at 14.6 billion.

However, non-interest revenue registered a decrease of eight percent to K5.7 billion on a prior year performance of K6.1 billion due to some once-off income realized in the prior period.

“Operating expenses registered a 19% growth to K15.5 billion from prior year expense of K12.9 billion due to changes to compensation structure affected in the second half of 2021 and increased investments in our operating systems aimed at increasing revenue generating activities. Impairment charges improved significantly to K0.5 billion, down 61% from K1.3 billion in 2021 due to enhanced portfolio management,” reads the statement in part.

According to the statement, NBS plc registered a 61 % growth of customer deposits to K281 billion from K174 billion while Loans and advances grew by 85 percent to close at K106 billion and money market investments growth was 12 % at K211 billion from K188 billion.

“The economic outlook for the second half 2022 is challenging. Just when the world was recovering from the Covid 19 crisis, Russia invaded Ukraine sending the global economy on yet another unpredictable course. As a result, various institutions projects that the economy is expected to grow by an estimated average of 2.37 % in 2022 from an initial Government projection of 4.1%.”

“Inflationary pressures are likely to rise throughout 2022 due to global turbulence caused by the war in Europe and the continuous resurgence of new variants of the Corona Virus. The Bank maintains robust capital and liquidity positions and is well-placed to pursue opportunities for growth in 2022,” reads part of the statement.

Meanwhile, the Bank’s Board of Directors has recommended payment of an interim dividend of K2.47 billion representing 85 tambala per share which represents a 41 percent growth.

Standard Bank Plc has launched a comprehensive range of loans aiming to empower both large and small-scale farmers in contributing to food security and Malawi’s export competitiveness.

The bank’s Head of Business and Commercial Clients Graham Chipande said at the launch in Blantyre the loans cover agro-processors, farmer cooperatives and those dealing in high-value cash crops such as tobacco, sugarcane, tea, macadamia, legumes, cereals, bananas and potatoes.

The finance packages include insurance cover.

“Our agribusiness solutions aim to empower both small and large-scale players across the value chain from farm to fork. Together with our partners Standard Bank aims to ensure that Malawi achieves food security while boosting capacity for agriculture commercialization, including export, in line with the first milestones of MW2063,” he said.

He said the bank’s fully-fledged agri-business department is offering expertise to guide customers choosing the right financing solution in line with their needs.

The financing solutions include Production Loans, Trade Finance, Working Capital Finance and Leasing for key cash crops and boosting the capacity of qualifying agriculture enterprises and cooperatives.

Production loans cover farm inputs, fertilizer, chemicals and other working capital requirements such labour during a crop cycle, while Trade and Working Capital loans provide short-term working capital support to facilitate trade and are suitable for processors, aggregators and agro-dealers.

Leasing and Finance covers assets that are clearly identifiable, moveable, durable, and insurable such as tractors, irrigation equipment, harrows, planters, combine harvesters and motor vehicles.

Standard Bank is also offering Long-Term financing to support capital expenditure of the business such as farm expansion, upgrading of infrastructure including construction of buildings, and other capital expenditure such as planting long term crops like Macadamia.

Chipande said realizing the risks that the agriculture sector faces due to adverse weather and climate change effects, Standard Bank has added a component of insurance.

“Our turn-key financing solutions come replete with the option of well-structured insurance products to cover associated risks, and ensure sustainability of the agriculture enterprises,” he said.

One of the beneficiaries of the bank’s loans Frederick Changaya said they have helped his grain milling company to scale up production capacity and expand product lines.

“When we started our company, we were turned down by other banks. But Standard Bank embraced us from the scratch. We are greatly indebted to them, and their loans are really well tailored,” said Changaya, a Blantyre-based miller who owns Applecore Grain and Milling LTD

With three months remaining before the kick-off of the Region 5 games in Lilongwe, listed NBS Bank plc has boosted preparations for the event with K60 million support.

NBS Bank plc Chief Executive Officer (CEO), Kwanele Ngwenya unveiled the sponsorship package to the Region 5 local organizing committee through Minister of Youth and Sports, Richard Chimwendo Banda in Lilongwe on Tuesday.

According to Ngwenya, the money will be used to cater for some expenses for the tournament.

“As a local Bank, we have to support local initiatives. The Region 5 games are the first in the country and as a local Bank we felt the need to be part and parcel of the history that is to be made. We believe that Region 5 games will transform the lives of the youths in this country.”

“We are passionate about youth development, we are passionate about financial development, we are passionate about financial inclusion and we believe that growth of the nation lies in the youth, then if we develop the youth, our business will also grow.”

“We are not releasing K60 million cash to them but we will be paying some expenses like accommodation, transport and food using that particular amount,” explained Ngwenya.

Ngwenya further said they have decided to render their support to the tournament after noting its significance in the development and transformation of the lives of the youths in the country and across the region.

Chairperson of the Region 5 local organizing committee Stanley Mutoya commended NBS Bank plc for the support saying they feel relieved of the burden to meet some costs to be incurred during the tournament.

“As an African Union, one of the things that is key to us is investing in demographic dividends through the young people we have, so we are excited about it because the youths in this region will find options to kickstart their careers in sports and this is a rare opportunity that is difficult to buy.”

“We are also most grateful that this is a Bank that puts its focus on social development and you need capital development by advancing livelihoods of people so we are very proud of such corporates and we are very excited by the gesture expressed by NBS Bank plc,” said Mutoya

Minister of Youth and Sports Richard Chimwendo Banda also commended the Bank for the support.

“We actually made a call to NBS Bank plc and we are very thankful that they accepted our call. I would like to ask other companies to emulate what NBS Bank plc has done because the government alone cannot shoulder the responsibility,” he said.

Over 2000 athletes from eleven countries are expected to converge in Lilongwe for the Region 5 games to be hosted at Bingu International Convention Centre (BICC), Griffin Saenda Malawi Aquatic Centre, Bingu National Stadium (BNS), Silver Stadium, and Civo Stadium.

The sport codes at the tournament include Athletics, Basketball, Boxing, Football, Gymnastics, Judo, Volleyball, Tennis, Netball, Swimming, Taekwondo, and E-Sports. 

National Bank of Malawi (NBM) plc has concluded its ‘Transact and Win Promotion’ with five customers winning the last five VIP tickets for the Kizz Daniel concert on Saturday at Lilongwe Golf Club.

The Bank launched the promotion earlier this month and has seen 20 customers winning Standard and VIP tickets to the show they are sponsoring with K40 million in partnership with  Epic Lifestyle.

Throughout the promotion period, the Bank has been conducting activation shows in Zomba, Lilongwe, Blantyre, Mzuzu and Mangochi with local artists performing at the shows.

NBM plc Marketing and Corporate Affairs Manager, Akossa Hiwa said the Bank decided to sponsor the event as a way of creating time to interact with the customers, promoting the recently updated M0626 Digital +, as well as NBM plc brand visibility.

She disclosed that the promotion has helped to promote digital transactions among its customers.

“Since the promotion started, we have seen an increased number of POS transactions and as a Bank we are happy that our customers are using plastic money which is safe and convenient. We are also happy that most people have been buying tickets to the concert through our digital platforms like the recently improved Mo626 Digital+ and Mo Pay where they have been enjoying massive discounts, some as high as K15,000 depending on the type of ticket,” she said.

On the entertainment circle, Hiwa said the concert has helped to provide a platform to the local artists.

“Apart from the promotion shows in which we have been engaging the local artists, the actual Kizz Daniel show on Saturday provides them a chance to network with international artists to grow their talent and skills,” she said.

During the final draw, Berton Marrega, Dennis Njiko, Khumbo Shaba, Malera Simbeye and Rabecca Tembo won the  VIP tickets.

Illovo Sugar (Malawi) plc has relaunched the ‘Everyday Chef online cooking competition’ second series and K8 million will be up for grabs in the 8-week campaign.

The company has announced that the winner of the competition will walk away with K5 million with the second placed pocketing K2 million card and the third placed winner going home K1 million richer.

Illovo Sugar Malawi limited said it is a must for the contestants to use Illovo’s refined and dark demerara sugar as part of their ingredients. 

The decision to initiate the second series comes following the success of the inaugural edition launched last year in August 2021.

At the relaunch, Illovo Sugar (Malawi) plc’s Managing Director, Lekani Katandula said the company found it befitting to reintroduce this initiative following its success, saying this year’s competition will also have shopping mall activations.

“The Everyday Chef campaign enabled our consumers to interact with the brand by increasing awareness of refined and dark demerara sugar as they shared their recipes thereby contributing to higher brand engagements.”

“Furthermore, the initial campaign allowed us to grow our Facebook community, which is in line with our strategy of continuing to be more consumer centric. As a business, we understand that ‘amazing things happen when you listen to the consumer’. The promotion has been relaunched in order to excite our consumers and engage them in a fun and creative way while cooking and baking using the different varieties of sugar produced by Illovo,” said Katandula.

The campaign kicked off on 11^th August 2022 with a cooking competition in order to select five judges who would then become the judges for the competition.  The five judges who were chosen to oversee this year’s campaign are Ipyana Mwagomba, Thobekile Nthinda, Dyson Chikolera, Portia Alimoyo, and Nelson Dhiba.

Just like last year, the promotion will primarily be conducted online and run through Illovo’s Tseketseke brand Facebook page. Each week the company will give consumers a challenge to showcase either their baking or cooking skills which they will then have to share on the Facebook page. 

The recipe with the most likes on a weekly basis will automatically be entered into the final ‘Cook-Off’ competition that will be hosted at the end of the 8-week campaign.

To complement the online efforts, shopping mall activations will be running simultaneously during weekends.  The shopping mall activations will be hosted by the five chefs who were chosen during the kick off competition of this year’s campaign.

The shopping mall activations will further enlighten consumers on the multiple uses of the white refined and dark demerara sugars produced by Illovo.

During the current promotion Illovo will run in-store sales promotions and shoppers who will buy three or more kilograms of Tseketseke sugar will stand a chance to win assorted instant prizes such as T-shirts, Aprons, cooking utensils and many more.

The winner of last year’s campaign was a Lilongwe-based businesswoman, Manase Munthali who beat seven other cooking and baking contestants in the finale. The runner-up was Chinsinsi Daudi who went away with K2 million while Hajrah Kusweje was third and walked away with K1 million.