NBS Bank, Afreximbank sign Project Facilitation Agreement
NBS Bank plc has entered into a three-year strategic framework agreement with the African Export-Import Bank (Afreximbank) to jointly support the preparation and financing of transformative projects across Malawi under the Joint Project Preparation Facility (JPPF).
The Agreement establishes a broad framework for collaboration between the Parties aiming to harmonize their efforts towards the promotion of trade and investment flows in Malawi. The objective of the JPPF is to fund pre-investment activities to bring the project to bankability across Malawi in sectors such as energy, transport, manufacturing, and tourism, unlocking a cumulative project investment of at least US$100 million.
Speaking during the signing ceremony in Abuja, Nigeria on Thursday, NBS Bank Plc Chief Executive Officer (CEO) Temwani Simwaka expressed optimism about the partnership.
“This agreement reflects our long-term vision to catalyse development in Malawi. By working with Afreximbank, we are enhancing our capacity to deliver high-impact projects that align with national priorities and regional development goals,” said Simwaka.
In her remarks, Afreximbank Intra-African Trade Executive Vice President Kanayo Awani said they aim to support public and private sector growth by preparing and co-financing impactful projects.
“This Framework Agreement is about empowering local institutions like NBS Bank to lead in project origination and development. It is a significant step towards accelerating Malawi’s integration into intra-African trade and unlocking economic potential,” said Awani.
In addition to project financing, Afreximbank will implement a comprehensive training and capacity-building programme for NBS Bank plc staff, including secondments to the Bank’s headquarters in Cairo, Egypt.
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