By Alexander Juma, contributor:
National Bank of Malawi (NBM) plc, through its strategic investment in Akiba Commercial Bank of Tanzania, has affirmed commitment to strengthening cross-border trade and investment between Malawi and Tanzania.
The two financial institutions participated in activities at the Tanzania-Malawi Investment Forum held earlier this month in Dar es Salaam, Tanzania.
The forum brought together government officials, investors, business leaders, financial institutions, and other stakeholders from the two countries to explore opportunities to strengthen bilateral trade, investment and economic cooperation.
Speaking at the forum, Akiba acting Managing Director Wezi Mwazani said the bank was pleased to participate in a platform that brings together government, businesses and the financial sector to unlock investment opportunities and create meaningful commercial partnerships.
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“We believe that economic growth accelerates when opportunities are connected to capital, markets and the right partnerships,” Mwazani said.
She said the forum’s success would ultimately depend on converting discussions and connections into tangible business opportunities.
NBM plc Head of Digital Banking Services Division William Kaunda said the bank was keen to use its strategic investment in Akiba Commercial Bank to make cross-border business transactions more convenient, efficient and accessible for customers.
He said digital banking was becoming an important enabler of regional trade, particularly as businesses sought faster and more convenient ways of conducting transactions.
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“Through our strategic investment in Akiba Commercial Bank, we see an opportunity to strengthen the connection between the two markets and provide businesses with the confidence that their banking needs can be supported as they grow,” Kaunda said.
Kaunda said NBM plc would continue investing in solutions and partnerships that responded to the evolving needs of businesses while supporting the broader objective of increasing trade and investment between Malawi and Tanzania.
Akiba Commercial Bank is a subsidiary of NBM plc.
