NBS Bank, Malawi Post Corp partner in agency banking

Malawi Post Corporation (MPC) will continue to engage several partnerships with different stakeholders as a turnaround strategy that can remove the company from the financial problems it is facing, the Company’s Acting Post Master General, Zachaeus Meke said.

Meke said this at Bvumbwe in Thyolo District  on Wednesday during the launch of NBS Bank-MPC banking agency where people can access all banking services in Post Offices countrywide.

Meke said time to complain that MPC is making loses has gone saying the company has established a turnaround strategy by among other things partnering banking sector and plans are under way to partner other stakeholders like insurance as well as mobile communication companies.

He said for every transaction that MPC can make on behalf of NBS Bank  shall get a fee similarly when they engage other sectors they  shall do the same.

 He said In so doing we can get more money through partnerships.

“Hence when NBS bank approached us to be in partnership we did not hesitate but to grab that opportunity so that the small we can get in form of fee can make a difference in a long term plan of our company,” said Meke.

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

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

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

“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.

Started in 1964, NBS bank has over 700 banking agencies while as MPC has 180 Post Offices in Malawi