FMB says its Mgodi wa Makwacha promotion, which was rolled out three months ago, has helped to boost the bank’s customer base.
This follows revelations that over 1,000 new customers have opened accounts with the bank.
The development came to light when the bank conducted draws for May and June in Lilongwe on Friday.
According to the bank’s Head of Government and International organisations, Patrick Kabambe, the promotion, which targeted tobacco farmers to receive their earnings through the Makwacha account, has worked wonders.
“The Makwacah account is a product that was designed specifically for tobacco farmers. It has been operational for the past ten years,” he said.
“The farmers have really responded positively. We started in March and we are finishing in August. A lot of farmers have responded and about 1,200 accounts have been opened over this period,” Kabambe said.
The winners went away with K100,000, cellphones and T-shirts.
During the draw, Ganizani Club from Phalombe and Mbambawa Club from Kasungu won K100,000 each.