TNM’s mobile money platform playing a critical role of transforming lives
TNM Mpamba Ltd, a wholly owned subsidiary of TNM Plc, listed on the Malawi Stock Exchange, says its mobile money platform is playing a critical role of transforming lives for the better by empowering Malawians through transactional and settlement services.
Speaking at the conclusion of a TNM Mpamba Kashi Kashi promotion, who grand prize of K1 million went to Rumphi-based journalist Manasseh Nyirenda, General Manager, Chris Sukasuka said the company’s transactional services through Mpamba are going a long way to stimulate economic growth by making cash available in both rural and urban areas and where other financial service providers are not present.
“The unique advantage of TNM Mpamba is its expansive network coverage which makes the transactional services ubiquitous,” he said. “People can therefore send and receive money, pay bills, share airtime, and receive monthly salaries using our network.
“In so doing we are playing a critical role in deepening financial inclusion in Malawi,” he said of the promotion that rewarded customers and agents with over K112 million
The final draw provided a dramatic and emotional end to the promotion and the winner, Manasseh Nyirenda is among the 28 lucky customers to win the ultimate cash prize. In the course of the promotion other customers won cash prizes ranging from K25 000 to K100 000.
“I can’t fully express my happiness to win K1 million today courtesy of TNM Mpamba, God has smiled on me. Thank you TNM for Mpamba which has helped to fulfil my dreams,” shouted joyous Nyirenda when contacted.
Outlining his quick plans for the prize money, Nyirenda said the money completes his dreams of buying a plot for future construction of a home.
During the draw, Likoma-based Mpamba agent Francis Vuma emerged one of the winners of K500,000 and he said the money will boost the capital base of his business which he invested K700,000.
Meanwhile, Sukasuka said during the financial year ended December 31, 2022, Mpamba was instrumental in driving the company’s revenue streams, adding that TNM group’s revenue grew by 2% at K96.35 billion due to growth in Mpamba revenue by 27% at K14.41 billion.
“TNM Mpamba has grown from a simple service that enabled sending and receiving money to providing more value in different ways,” said the general manager. “This growth has been initiated with our persistent investment in innovation from our staff, partners and more importantly customers and agents for supporting such innovation.”
The multifaceted Mpamba Kashi Kashi promotion — which reward 1,008 customers and 868 agents — registered an increase in transactions by 41% with over 125 million transactions for customers being recorded and 34 million for Mpamba agents.
Promotion winners were derived from every district providing equity in the contribution of prize money.
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