Malawi Postal Corporation (MPC), then trading as Malawi Post Office, used to operate banking services in all its post offices across the country.
Partnership with NBS Bank: Nkhoma (left) and MPC Postmaster General Zachaeus Meke
But Malawi Post Office was later transformed to MPC paving way to the creation of Malawi Savings Bank as its subsidiary which was then sold a few years ago to FDH Financial Holdings Limited under FDH Bank.
MPC now plans to revisit this banking service taking cognizance that the rural masses are still unbanked and they intend to utilize their nationwide post offices which are making huge losses.
January 26, 2021 Duncan Mlanjira - Nyasa Times 2 Comments
Malawi Stock Exchange-listed NBS Bank has rolled out a digital initiative named Bank Pafupi, through which the country’s unbanked rural masses now can afford to sustain and secure their savings and investments.
NBS Bank Chief Treasury and Global Markets Officer, Benedicto Bena Nkhoma: NBS inspired to roll out the Bank Pafupi services after a study
These agents are all over the country
Very visible signage all over
Agreement signed between Nkhoma (left) and Postmaster General Zachaeus Meke
The Bank Pafupi operates through private agents across the country in both urban and rural areas and since its inception in 2002, NBS Bank has over 900 agents and the figures are steadfastly rising.
Malawi: Chimwendo Banda Orders Independent Police Complaints to Probe Bvumbwe Shooting allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
Minister of Homeland Security Richard Chimwendo Banda has ordered that an Independent Police Complaints Commission should take over in investigating the Bvumbwe Shooting incident in Thyolo.
On Monday, there were running battles between the police and communities at Bvumbwe Trading Centre following the death of two men who were shot by a police officer.
According to Police statement on the matter, the two men (now deceased) were resisting arrest from police officers and attempted to grab a firearm from one of the police officers in the process the firearm was discharged.
National Police Spokesperson James Kadadzera, identified the two as Chipiliro Masikono aged 21 of Mbizi village in T/A Jenala in Zomba was at large after injuring a police officer early this December and was spotted at Bvumbwe Trading Center where officers made advances to arrest him.
Malawi: Police Fight Civilians in Thyolo, 2 Shot humanitariannews.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from humanitariannews.org Daily Mail and Mail on Sunday newspapers.