Standard Bank launches Pa Mawa Promotion

Malawi Stock Exchange-listed Standard Bank has launched the Pa Mawa Promotion aimed at encouraging Malawians to develop a saving culture.
The promotion will see customers winning various cash prizes with two lucky winners taking home K1 million each for saving a minimum of K50,000 in their accounts.
Standard Bank Sales and Service Manager, Frank Chirwa, said Pa Mawa aims to promote a saving culture among Malawians while earning an interest of 11 percent per annum.
“Through this promotion, we would like to ignite the habit of saving or putting aside something towards future plans and building wealth.
“We believe that a great year is the one that starts with a savings plan, and for one to save enough in the next 11 months, they need to start saving early,” Chirwa said.
He said Pa Mawa is in line with the bank’s strategy to move the lives of Malawians forward, by giving them an opportunity to develop a habit of saving.
“Block by block, bit by bit, people can build their financial haven through a savings or investment plan. Pa Mawa Promotion has been designed to reward those customers, whose 2018 resolution is the pursuit for personal financial freedom and happiness through adhering to a frugal saving.
“It is our hope that we will inspire futuristic thinking and we encourage young couples to open joint accounts in preparation for specific projects or alternatively open minor accounts for their children’s future,” Chirwa said.
To enter the promotion, customers need to save a minimum of K50, 000 for a month which qualifies for one entry.
Chirwa said the bank will give away K100,000 to a lucky customer in every region while 15 other lucky winners will cart home K50,000 each.
The promotion will run for three months and will end on April 3, 2018.