Malawi’s leading bank, NBS Bank Plc says it is ‘extremely delighted’ to have been a part of the history-making Area 18 Interchange in Lilongwe, the first landmark of its kind in Malawi.
In an exclusive interview, NBS Bank Chief Executive Officer Kwanele Ngwenya said as a Malawian Bank, NBS Bank is passionate about the development of the nation describing the Area 18 Interchange as a watershed development for the city and the country at large.
“And we love to see the country taking positive strides to achieve this. We always endeavour to align our business model to complement the goals of the nation so that the Bank contributes to the sustainable economic development of this country,” he said.
For the interchange, NBS Bank assisted in the financing of the project through a bid bond worth K14 billion offered to the Roads Fund Administration (RFA).
“For NBS Bank to emerge the financier for this project, we submitted our bid, together with other banks, and the institution with the competitive bid emerged successful.
“The bond was offered at competitive rates to ensure that RFA minimises its funding costs while the bank covers its operating margin,” he said.
Ngwenya said the Bank is looking forward to more participation in infrastructure and development generally in Malawi.
He said NBS Bank values its role in enabling access to financial services. This, Ngwenya said, is key to promote growth opportunities, such as industrialisation, social welfare, entrepreneurship and diversification in sectors agriculture.
“We, therefore, have a unique offering and business solutions that cater for our SMEs and corporate organisations alike, to enhance their businesses and thereby contribute to the success of our Malawian economy,” he said.
It looks like the pioneering four-lane Area 18 Interchange has inspired more such constructions in Lilongwe as a similar project, a 6-lane stretch, is also taking place on Kenyatta Drive.
In the years to come, there will certainly be more of such pieces of fine infrastructure.
But even after hundreds of years and hundreds of such infrastructure in the country, history shall say that Area 18 Interchange blazed the trail of modern highway construction in Malawi.
And NBS Bank has its name engraved on this development.Follow and Subscribe Nyasa TV :