Opportunity Bank sold to MyBucks

Opportunity Bank of Malawi (OIBM)  has been sold to one of the renowned international financial lending institutions,  Mybucks.

Ndirande Branch, Opportunity International Bank of Malawi (OIBM)

Ndirande Branch, Opportunity International Bank of Malawi (OIBM)

Mobile OIBM banking

Mobile OIBM banking

Two Senior Managers who works for OIBM confided in Nyasa Times that the management has put pen to paper.

“Yes its true OIBM has been sold to Mybacks but we don’t know finer details of the deal since the transactions were being done at senior level,” said one manager.

However, according to statement released on Thursday, the two institutions described the relationship of  MyBucks and Opportunity International as “partnership”.

“This partnership will greatly accelerate our work to help lift more people out of poverty, transform their lives and strengthen their families and communities,” said Vicki Escarra, Global CEO, Opportunity International.

“MyBucks will supercharge our mission by adding significant capital, resources and expertise to help drive financial inclusion of the unbanked and underbanked clients throughout Africa. It also helps us achieve our goal of creating and sustaining 20 million jobs by 2020, which will impact 100 million lives worldwide.”

This partnership marks the first time a fintech company has acquired banks to bridge the gap between the virtual and traditional worlds of banking to enable faster, more efficient and less expensive access to financial services for clients.

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20 thoughts on “Opportunity Bank sold to MyBucks”

  1. Misolo says:

    Go ahead selling OIBM but remember to spare our brothers and sisters. We don’t want them to be Jobless because of your wrong decisions.

  2. bondo says:

    sounds squalid

  3. Oib is pvt bank unlike msb or nbm or stand khalani chete muxingowona

  4. Therere says:

    it can be a blessing in disguise, let us wait and see

  5. Ephraim says:

    Please you guys don’t disappoint us , why sale a bank in a secret way , a bureau gwilani ntchito yanu

  6. chilikumpani chauma says:

    By the end of the year everything shall have been sold

  7. Kwatha says:

    Dint be so stupid iwe ukuziti Bank sold Like Marijuana. Yoy must know when u have to ooke your nose in rhe busuness thar doesnt concern u. Vuto ndi umbuli. Bank Limeneli silaboma therefore u have absolurely nothing to be worried about. Umafuna akuuze zogulitsa bamk imeneyi ngati ndani?

  8. mbanga says:

    It’s time to back out. There are stupid personell at ndix branch and would not fit in a new set up. The bank should take care of these inexperienced cottage staff.

  9. John Mwalungila says:

    Last time it was MALAWI SAVINGS BANK, now OBM.Shame! Next time,RBM.Kaya!!!!.

  10. Bank Sold like marijuana says:

    Why has this bank been sold in a very secretive way like marijuana. MSB sale in the newspapers, Inde Bank sale was in the papers and the entire media, why not OIBM?. Reserve Bank of Malawi, why are you not allowing Malawians to participate in financial markets and why are you supporting clandestine operations. What was oibm hiding? Anti Corruption bureau should investigate this sale. Someone must have eaten money to have this bank sold in secret.

  11. james says:

    kwachuluka mbuli ku OIBM. Branch manager wa MSCE angapange chani chachi lendo? No wonder the bank has been writing off some loans.

  12. steve says:

    Malawian people lets not b doing dat it really shows dat we r bank rupt

  13. Beje says:

    Malawi my beloved country where everything is up for market. first it was Malawi savings bank, then came the issue of Inde bank and now we hear of opportunity bank.we dont need a prophecy that the economy is collapsing THESE ARE THE SIGNS

  14. allan says:

    Malawi wasawaiyu

  15. Phinifolo says:

    Basitu the whole opportunity is sold. Mavutotu amenewa.

  16. Watson says:

    Akungogulitsana company yayikulu ngati ngaati ndi matemba bwanji, RBM should be aware abouit this merger, purchase whatever it is!!

  17. Nasimba Novirhikana says:

    ‘Bucks’ is a slung for dollars. That why US dollars are also known as Green ‘Buck’. Therefore my bucks simply means ‘My $’.
    Hope I have well articulated on this.
    Good day: Hahahahaho ho ho. Komanso suli wekha osadziwa. Mulipo ambiri.

  18. Moyenda says:

    What a name for a bank! “MyBucks” sounds like a street name.
    Can’t they brand it a bit more creatively?

  19. JJ King says:

    Any statement from regulator, the reserve bank of malawi or they don’t have any say on this crucial restructuring?!

  20. Green Grass says:

    The unbanked or underbanked are being served by the village banks where they are benefiting 100% from the profits according to the number of shares bought not the silly 6% you people give as interest to someone’s hard earned money.

Comments are closed.