Old mutual partners TNM in customers’ investment drive


Mobile phone network service provider Telekom Networks Malawi (TNM), in partnership with Old Mutual has unveiled a new mobile investment product through which customers would be investing money electronically.

Dubbed Mpamba Fesa, the service accords TNM customers’ an opportunity to invest on the money market.

Through the service, TNM customers who are on Mpamba will be eligible to save money with Old Mutual.


The service also offers the customers an opportunity to access loans at relatively lower rates than that offered at commercial banks.

Gracing the launch on Friday, minister of information Patricia Kaliati commended the two companies for what she rated as innovative attempts towards improving saving culture among Malawians.

“Through the initiative, we believe people will inculcate a savings culture which would eventually also improve the economy,” she said.


Kaliati said the scheme would further offer growth opportunity to budding entrepreneurs as it offers loan facility at competitive rates.

TNM chief executive officer Douglas Stevenson said the initiative is evidence that the company is not only limited to mobile phone service provision.

“We are more than a mobile phone service provider, we attempt to use ICT as a mechanism of creating wealth for Malawians,” said Stevenson.

Old Mutual acting chief executive officer Edith Jiya pledged that the company would safeguard the customers’ funds to ensure return on investment.

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