NBS Bank, MPC in partnership for customers to access banking services in post offices countrywide

By Tikondane Vega, MANA

NBS Bank has partnered with Malawi Posts Corporation (MPC) by creating all post offices countrywide as banking agencies for people to access all their banking services.

NBS Bank Chief Treasury and Globe Market Officer, Benedicto Nkhoma said the partnership between NBS Bank and MPC dates back to 2012, noting that MPC was its first partner and a first bank agent in Malawi.

The signing exercise by Nkhoma (middle) and
Meke

Nkhoma said the main objective for the partnership was financial inclusion — mainly reaching the rural masses with banking facilities because MPC has the most reliable channel and expertise to deliver the much needed services.

“As it is with pioneers, we have had a very important journey which has seen us accumulating a lot of experience and therefore, perfecting our trade in the process,” Nkhoma said at Bvumbwe Trading Centre on Thursday during the launch of the agencies.

“It is, therefore, not surprising that we stand tall today speaking boldly that we have a very big banking network in Malawi.

Nkhoma sampling the services to be offered

“With MPC, this is the partnerships of giants in Malawi. We are re-launching partnerships today and among the products that will be offered include; withdraws, deposits, balance inquiry, loan repayment and account statement.”

NBS Bank, which was established in 1964, has over 700 banking agencies while MPC has 180 post offices in Malawi.

In his remarks, acting Post Master General, Zachaeus Meke said MPC will continue to revive partnerships with different stakeholders as a turnaround strategy that can uproot the company from its current financial abyss.

Customers immediately patronised after the
launch

Meke said time to complain that MPC is making losses is gone, saying the company has developed a turnaround strategy by, among other things, partnering the banking sector.

He disclosed that plans were under way to partner other stakeholders like insurance as well as mobile communication companies.

“For every transaction that MPC can make on behalf of NBS Bank, we shall get a fee; similarly when we engage other sectors we shall do the same.

“In so doing we can get more money through the partnerships. As such, when NBS Bank approached us to be in partnership, we did not hesitate but to grab the opportunity so that the small we can collect in form of fees can make a difference in a long term plan of our company,” Meke said.

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