Community embraces digital banking system
People in Lilongwe have hailed government for its plans to gradually transtion from cash to digital banking and electronic transactions services.
Speaking on Friday during an awareness campaign organised by the Reserve Bank of Malawi (RBM), senior group village head Nthumba of Traditional Authority Kabudula said the initiative will help to curb fraud and money laundering, among others.
He said: “With digital transactions, people, especially farmers will no longer be carrying huge sums of cash to and from the bank where in most cases, farmers have been robbed and others even lost their lives.
“This electronic system will also help individuals to manage their finances more effectively, such as paying their utility bills while in their homes without losing money on transport.”
Nthumba urged his subjects to embrace the digital banking services, saying this is in line with the government blue print of the Malawi 2063.
In a separate interview, a shop owner Patrick Saulo thanked government for the initiative saying he will no longer carry huge sums of money when purchasing goods in town.
He, however, asked government to consider sealing a deal with mobile service providers and banks so that they reduce the charges on digital transactions.
Lilongwe and Kasungu digital financial services coordinator Ella Kangaude expressed satisfaction with the overwhelming patronage of the people, a development she said confirms that people want to migrate from using cash to digital system.
