NBS Bank offers retired military veterans financial solutions
Malawi Stock Exchange Listed NBS Bank, otherwise known as the ‘Red Brigade’ has committed to providing financial solutions to the Malawi Defence Force (MDF) retirees to invest their retirement packages.
The Bank’s Chief Executive Officer (CEO), Kwanele Ngwenya made the remarks on Friday during the day-long Military Veterans Thanks-giving Golf Tournament aimed at fundraising for the 15 war veterans who fought in World War 2.
President Lazarus Chakwera and Vice President Saulos Chilima graced the occasion, where NBS Bank contributed K30 million towards the event, with K10 million going directly to the welfare of the veterans.
“Your Excellency, we are here honouring those that have retired from service, and we know that upon retirement, military personnel and civilians alike, receive a package for their years of service.
“We also know they look for meaningful ways to invest those funds, through various business opportunities in the SME sector. However, proper planning and analysis of different options are necessary to ensure that they do not lose their investment, making them worse off.”
“This is where NBS Bank plc comes in, to help individuals who have an idea for a great business to turn the ideas into reality by offering sustainable financial solutions.
“Investment, however, is not limited to retirement benefits alone; planning towards retirement and the future in general should begin at an early stage,” he explained.
Ngwenya highlighted the Bid Bond Return Guarantees, Asset Financing, Mortgages and Purchase Order Financing, and personal digital loans as some of the financial solutions the retirees can benefit from the Bank.
President Chakwera called for more support to the war veterans who he said ‘answered a call to national duty in fulfilling the greater need of global peace.’
During the golf tournament a team composed of Solicitor Botha and Helmant Baghat and sponsored by Pham Vet emerged winners with 47 points while an NBS Bank sponsored team of Justice Ken Manda and Mervin Donga came second after being outed out on 47 points.
Another NBS sponsored team comprising Lilongwe Golf Club captain Duncan Chidzankufa and Harold Phiri came third with 45 points.
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