NBS says it has intensified efforts to engage agents across the country as one way of reaching out to the unbanked population.
The bank is using small scale business operators under its Bank Pafupi facility to offer banking services to people living in areas where NBS does not have network.
The agents will be trained in financial transactions and will be using both cash and electronic platforms to effect money transfers.
NBS Bank head of Business and Personal Banking, Mercus Chigoga, said the initiative is aimed at increasing the number of Malawians with access to financial services, the majority of whom live in rural areas.
“We are aware that Malawi is among countries in the region with majority of its citizens still unbanked. But with initiatives like Banki Pafupi, we will be able to still reach out to potential customers in the remotest areas,” said Chigoga.
Chigoga said the bank will offer continuous training to the agents for effective service delivery.
“There will be authenticity in the transactions as the agents will be issuing receipts for every transaction. Another advantage of the move is that people will be able to access their money beyond banking hours,” said Chigoga.