Premier mobile company Telekom Networks Malawi (TNM) Business Development Manager Earnest Kalomba says Malawi stands to increase the number of people with access to banking services if the country embraces mobile money banking services.
Meanwhile, only 28 percent of the country’s population has access to banking service up from 19 percent in 2008, according to the Reserve Bank of Malawi (RBM).
Kalomba was speaking on Wednesday during the 11th draw of Wali Wali ndi Mpamba Promotion which promotes electricity bill payments through the company’s mobile money platform, Mpamba.
His remarks comes at a time when the Reserve Bank of Malawi has launched Financial Literacy Week.
“We at TNM feel that this country can greatly improve in its banking service if Malawians embraced mobile money. As of July this year, we had 2 million people on our network. This means if these 2 million were registered with Mpamba, the gap between the banked and the unbanked Malawians would have greatly been bridged,” said Kalomba.
He added: “As a brand we are working towards ensuring that all our customers register with Mpamba. We have recruited people who are registering customers on this mobile money platform. We can only hope that by next year the story of people with access to banking services will be different”.
Kalomba said Mpamba as a mode of saving money offers great opportunities as it is convenient as well as secure.
“In this generation, it does not hold that one should be moving about with wads of bank notes. I encourage people to embrace this system and be at peace knowing their money is safe,” he said.
To enter the promotion, customers are required to buy at least K1 000 electricity units or pay Escom bills using TNM Mpamba. Promotion runs until January 4, 2014.
The number of entrants eligible for draw this week grew by 10 percent, according to Kalomba.
During the 11th draw of Wali Wali ndi Mpamba promotion one of 15 lucky winners of K15 thousand kwacha worth of electricity units Tawina said he was excitement to win.
‘I am very excited that i have won it has come as a surprise to me, I bought K5 thousand kwacha worth of ESCOM units through TNM Mpamba” said Banda a Naperi resident.