Standard Bank Plc has kept its word to use its signature Lilongwe half-marathon Be More Race to donate K36 million towards the Children’s Education Centre at Kamuzu Central Hospital Children’s Cancer Centre in Lilongwe.

The bank matched by 100% the initial K18 million it realized from registration fees paid by participants of the July 20, 2024 race bringing the total contribution to K36 million.

Speaking during a fund-raising dinner organized by Baylor Foundation Malawi National Cancer Center as part of September Childhood Cancer Awareness Month, Head of Legal and Governance Norah Nsanja said the donation is a fulfillment of the bank’s pledge to channel proceeds from the race towards the Children Cancer Ward at Kamuzu Central Hospital.

“Education at the cancer center plays a crucial role in providing stability and hope for young patients undergoing treatment at the center. By donating to the Children’s Education Centre, Standard Bank seeks to ensure that these children remain engaged in their studies, fostering a sense of normalcy and empowerment during their treatment journey,” she said.

She said this year’s Be More Race, which was the 6th in the series, was held under the theme; “Why We Run” to evoke an emotional connection between the race and doing good for the society.

Director for Pediatric Cancer Department of Kamuzu Central Hospital Dr. Rezine Mzikamanda said the contribution will support creating a nurturing environment where patients can engage in interactive learning and peer support.

“The bank’s contribution will play a crucial role in improving the educational experience and emotional well-being of childhood cancer patients and their families,” said Mzikamanda.

Mzikamanda hailed all the stakeholders for making the fundraising event a success adding that the main objective was achieved.

“The fundraising event successfully met its objectives, we raised the necessary funds and increased awareness about childhood cancer, engaging the community and building valuable connections. We thank all the partners, and we look forward to continuing future engagements and support to promote the overall well-being of children with cancer,” added Mzikamanda.

Funds to be raised will be allocated towards the refurbishment of the center as well as the purchase of educational materials that cater to the unique needs of children, enabling them to continue their learning despite the challenges they face.

Castel Malawi Limited has donated K2 million to the Public Relations Society of Malawi (PRSM) for its annual lake conference scheduled for Mangochi this weekend.

Speaking during the cheque handover ceremony in Blantyre, Castel’s Head of Corporate Marketing and Communication, Lavern Chitakata, appreciated the society and acknowledged that the donation is enriching to drive sustainability and underscores Castel Malawi’s commitment to supporting the development of public relations in the country.

“At Castel Malawi, we understand the crucial role that communication professionals play in shaping public perception and driving national development. By supporting this conference, we aim to strengthen the professional capacity of public relations practitioners in Malawi.”

“One of our pillars is CSR and we believe in sustainable and fruitful Public Relations engagements that enhance the growth of the communities and foster change of mindset. Additionally, Castel Malawi recognizes the role of transparent and accountable communication in fostering a healthy democracy,” said Chitakata

PRSM Executive Committee Member, Wadza Otomani, expressed gratitude to Castel Malawi for the generous support, highlighting the importance of corporate partnerships in advancing the Public Relations profession.

“We are thankful for this timely donation from Castel Malawi, which will go a long way in ensuring the success of our conference. It’s encouraging to see companies like Castel Malawi recognize the value of effective communication and how it contributes to national progress,” said Otomani.

The conference will be held under the theme ‘Managing Narratives for Enhanced Democracy and Development’.

Listed National Bank of Malawi (NBM) has committed to continue providing reliable and secure digital banking services in the country as they celebrate 16 years of its flagship Mo626 existence.

Head of Digital Financial Services at the Bank, William Kaunda made the assurance on Friday in Lilongwe when the ‘Bank of the Nation’ celebrated the digital platform’s milestone at a cocktail party.

Graced by the Reserve Bank of Malawi (RBM) deputy governor McDonald Mafuta-Mwale, NBM’s former Chief Executive Officers George Partridge and McFussy Kawawa, former employees, business gurus, government institutions representatives, and customers, the event highlighted the growth path of the innovation since its inception in 2008. 

Kaunda said Mo626 processes about six million financial transactions each month, with a total value exceeding K600 billion.

“From what started as an SMS banking platform, today it is encompassing mobile and E-money services and has continuously evolved becoming a household name. We keep upgrading so as to remain relevant and give our customers good and secure services in the comfort of their homes,” said Kaunda.

In his remarks, Mafuta-Mwale commended NBM plc for being the digital banking pioneers through the introduction of the platform, which he said has played a big role in complimenting their efforts to promote financial inclusion in the country. 

“The coming of digital banking platforms like Mo626 has not only reduced the demand for physical cash, but also provided a more stable alternative. People no longer have to seek the banking services in banking halls. They can now conclude a transaction from their homes without using cash,” he said. 

As part of the celebrations, NBM plc credited the oldest, and frequent users of Mo626 with K16,000 as a token of appreciation.

One such customer, Susan Loga, conceded that the digital platform has simplified life as she makes payments of goods and services digitally. 

“I am now a big member of the cashless society, courtesy of NBM’s Mo626,” she said.

Apart from crediting customers, the Bank also recognised the roles played by some of its staff in developing and growing the platform.

Some of the people awarded at the event included Partridge, Kaunda, Brian Bobby, Annie Magola, John Mitchell, and Wilkins Mijiga.

Malawi Stock Exchange-listed NBS Bank has disclosed that it has offered K40 billion in guarantees and loans to Small and Medium Enterprises (SMEs) this year as strategic components of the economy. 

The Bank’s Chief Wholesale Banking Officer Alfred Nhlema said this on Friday when he opened an SMEs clinic for Lilongwe entrepreneurs to interact and share notes about their business journey.

“In the same spirit of ‘I care’, at NBS Bank plc we have chosen to side with the many. This year we have offered over K40 billion in guarantees and loans to SMEs who account for 40 percent of the GDP of Malawi and 24 percent of the workforce. These are not mere statistics that is why at NBS Bank we take SMEs seriously,”

“One of the key products that we want these SMEs to benefit from is the ‘Zayera’ loan which is subsidized at nine percent,” said Nhlema.

The clinic was led by Sycamore Consult Limited Managing Director, Audrey Mwala as the guest speaker. 

In her presentations, Mwala said lack of financial knowledge is one of the factors hindering SMEs from growing.

“So, the SMEs here have been challenged to know that they are an important player in the sector, they are contributing to 40 percent of our GDP and we need to embrace and help them grow.”

“There is a mentality in the minds of SMEs that I will be small, but we expect that through the credit facilities coming from NBS Bank plc, they should use that as an advantage to scale up. Scaling up and growth will not happen fast with internal resources, you are supposed to leverage and use external resources like loans to help you grow,” said Mwala.

One of the Bank’s loan beneficiaries, Sphiwe Msiska of MCM Investments hailed NBS Bank plc for financial advice that has helped in her cooking oil manufacturing and construction business.

“NBS Bank plc helped us on how best to register collateral, valuation, and access a loan facility. By the end of the day, we have benefitted more,” said Msiska.

National Bank of Malawi (NBM) plc has partnered with Sky Energy Africa and 265 Energy to offer financing for electric cars and other energy solutions that are easy, flexible and affordable.

Through the partnership, NBM plc customers will be able to access financing for electric vehicles at Sky Energy Africa, and solar and gas solutions at 265 Energy.

Speaking after signing the Memorandum of Understanding (MOU) with the two companies on Tuesday, NBM plc Head Retail Banking Division Oswin Kasunda said that the partnership will help ease customers’ access to the products.

“These are young and upcoming companies that are offering energy solutions in Malawi that is why we have seen it necessary to partner with them. As a country is driving clean energy solutions, we thought that we must be part and parcel of supporting this initiative to make sure that customers have access to these products so that we can also manage environmental related problems,” said Kasunda.

On the loan payment period for the two products, Kasunda said the Bank is flexible depending on the customer’s affordability.

“For a car, one can go up to five years, but that is just the maximum payment period. If one thinks they can manage to pay in 12 months there is no problem.”

“Borrowing is all about affordability, a customer can come whether they want a small amount for a small product or a customer want to buy an electric vehicle since we do not have borrowing limits,” explained Kasunda.

Founder and Managing Director of Sky Energy Africa, Schizzo Thomson commended NBM plc for the partnership saying it gives a chance to people and organisations to acquire the electric vehicles which promotes the adoption of sustainable energy technologies.

“There has always been a challenge in-terms of initial investment for one to be able to acquire energy products even the electric vehicles, this partnership closes this gap as clients will be able to access these vehicles and other products through loans.”

“When the electric vehicles were launched, there were thousands of enquiries, people trying to understand the solutions but the limiting factor for escalation to the adoption has been the cost of the vehicles which the NBM Plc is now trying to solve,” explained Thomson.

In his remarks 265 Energy Chief Executive Officer, Mfundo Mbvundula also said the partnership ensures that access to solar and gas solutions has been simplified.

“Through this initiative the Bank takes the upfront cost and the customer can repay the bank over months or a year based on the price and what they discuss with the Bank. This will make it more affordable for the customer to get good quality solutions from us,” explained Mbvundula.