Archbishop Tambala: Don’t use banks for harmful activities
Archbishop George Tambala of the Lilongwe Archdiocese of the Catholic Church has urged the newly-established Centenary Bank to desist from sinister or harmful activities.
Tambala was speaking yesterday during Eucharistic Mass for the launch of the bank.
“A bank should promote the common good not harmful activities. We should not have a bank that should promote manufacturing of firearms, among other things,” said Tambala.
He urged the bank’s management to make sure that the financial institution is run professionally.
Tambala also urged Catholic faithful to develop a saving culture.
Speaking on behalf of President Lazarus Chakwera, Vice President Saulos Chilima said it is high time Malawi became self-reliant. He called on the bank to be focused on its strategic values.
“In banking or finance, trust is the only thing that the bank can sell in Malawi. And the bank should be focused,” Chilima said.
He also advised the bank management to motivate its staff if the bank is to thrive. Centenary Bank Board Chairperson Francis Pelekamoyo said the bank is for Malawians and that the board will make sure to run it professionally.
“We will make sure the bank has products that are in the interest of people and we will make it one of the formidable banks in the country,” Pelekamoyo said.
He said the bank is targeting the rural areas where more people live. Centenary Bank Chief Executive Officer Director Zandile Shaba said the bank is committed to providing financial empowerment through accessible and affordable banking services.
“This is one of the banks that will be providing soft loans, school fees loans and improving public infrastructure,” Shaba said.
The event was graced by the clergy from Malawi, Zambia and Zimbabwe among other countries
Centenary Bank, formerly Mybucks Banking Corporation, was unveiled last month in Lilongwe, months after the Reserve Bank of Malawi (RBM) gave a nod to the acquisition of the bank by Centenary Rural Development Group Limited of Uganda and the Catholic Archdiocese of Lilongwe.
The bank was officially registered in the country on March 6 2023. Centenary Group holds a 51 percent stake in the bank while the Archdiocese of Lilongwe has 49 percent shareholding.
