* This investment will improve connectivity, facilitate trade, strengthen local businesses, and contribute to sustainable economic growth
* Because at National Bank of Malawi Plc, building Malawi’s future goes beyond banking
By Duncan Mlanjira
The road rehabilitation works of the Lot 2 Golomoti-Monkey Bay corridor, supported through a K100 billion financing facility by National Bank of Malawi (NBM), has been officially launched.
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The Lot 2 covers a 28.4km stretch between Chantulo and Golomoti section while Lot 1 is financed by FDH Bank also at K100 billion credit facility.
The corridor (M010 Road) from Golomoti turn-off along the Lakeshore Road to Salima, covers 58.4km to Monkey road and NBM believes the “every road opens new opportunities” saying: “This investment will improve connectivity, facilitate trade, strengthen local businesses, and contribute to sustainable economic growth.
“Because at National Bank of Malawi plc, building Malawi’s future goes beyond banking,” says the bank on its LinkedIn platform.
The launch of the rehabilitation works was presided over by Minister of Transport & Public Works, Jappie Mhango, who commended NBM for financing the project.
On the Ministry’s official Facebook account, Mhango is quoted describing the investment as “a strong demonstration of the role local financial institutions can play in accelerating national infrastructure development”.
“He further encouraged other commercial banks to partner with Government in financing transformative infrastructure projects,” says the report.
The partnership with the private sector is a commitment to investing in strategic road infrastructure that supports tourism, agriculture, fisheries, and regional connectivity.
Present at the launch was NBM Board chairperson, Dr. Grant Kabango, who reaffirmed the Bank’s commitment to supporting government’s infrastructure development agenda — while pledging the institution’s continued partnership in delivering projects that contribute to the country’s socio-economic growth.
Kabango (left) and Minister Mhango
On its part, the Roads Authority expects the project to improve connectivity, facilitate trade and tourism, reduce vehicle operating costs and stimulate economic growth.
NBM Chief Executive Officer, Harold Jiya, told the media ahead of the launch that its financing support reflects the bank’s unwavering commitment to supporting projects that create lasting value for the country.
“At National Bank of Malawi, we believe that modern infrastructure is the backbone of sustainable economic growth,” he told Malawi Voice, adding that the support shows the bank has confidence in Malawi’s future.
He is further as saying this is NBM’s “commitment to working with the government to deliver projects that improve connectivity, support trade, create economic opportunities, and positively impact Malawian people”.
“As a home-grown bank, we remain dedicated to mobilising capital for investments that contribute meaningfully to national development,” he said.
Beyond improving mobility, the project is expected to strengthen value chains in agriculture, expand access to tourism destinations, improve service delivery and encourage private sector investment in communities served by the road.
Minister Mhango and FDH Holdings CEO William Mpinganjira at the groundbreaking site on July 2
On its part when launching the Lot 1 works, FDH Financial Holdings https://www.maraviexpress.com/the-Lot-1-rehabilitation-works,-FDH-Financial-Holdings described the partnership as aligning with the Government’s strategy to enhance connectivity and strengthen Malawi transport sector.
In a public statement Chief Executive Officer William Mpinganjira took cognizance that the project aims to unlock economic activity by boosting trade and tourism.
“As a homegrown and homebred bank, FDH Bank Plc recognises that robust road infrastructure is the backbone of Malawi’s economic growth.”
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