National Bank of Malawi plans southern Africa expansion

National Bank of Malawi has set out plans to venture into the Sadc region lucrative markets by acquiring stakes in some business entities.

The bank, in statement, has however not disclosed the business it wants to venture into outside the country.

In statement published at the Malawi Stock Exchange to caution its shareholders on the bank’s transaction, the bank says it is in a process acquiring a controlling stake in a financial institution outside the country.

Investment expert Armstrong Kamphoni described the move as a sign that the local economy has matured.