National Bank of Malawi (NBM) plc, through its strategic partner Akiba Commercial Bank of Tanzania, says it will continue to strengthen trade and investment ties between the two countries.
The two financial institutions participated in the Tanzania–Malawi Investment Forum held last week at Tantrade grounds in Dar es Salaam.
Speaking in an interview on Wednesday, Akiba Commercial Bank acting managing director Wezi Mwazani said the bank, which is 77.3 percent owned by Malawi Stock Exchange-listed NBM plc, was delighted to participate in a platform that sought to unlock investment opportunities and create meaningful commercial partnerships.
“At Akiba Commercial Bank, we believe that economic growth accelerates when opportunities are connected to capital, markets and the right partnerships,” she said.
Mwazani said the forum’s success will depend on converting discussions and connections into tangible business opportunities.
“The true value of a forum such as this is realised when the conversation becomes a partnership, when partnership becomes an investment and when that investment creates jobs and contributes to economic growth,” she said.
NBM plc Digital Banking Services Division head William Kaunda said the bank was keen to use its strategic investment in Akiba to make cross-border business transactions more convenient, efficient and accessible for customers.
He said: “We recognise that businesses today are not confined by geographical borders.
“Our role is to ensure that as our customers explore opportunities in Tanzania and other markets.”
In June 2022, NBM plc completed the acquisition of stake in Akiba Commercial Bank and has since then established service centres across Tanzania.
