NBM to launch share purchase loan facility
National bank of Malawi (NBM) plc has introduced a share purchase loan facility as one way of encouraging individuals to buy shares on the Malawi Stock Exchange (MSE).
Speaking on the sidelines of a cocktail the bank organised for small and medium enterprises (SMEs) at the weekend in Blantyre, the bank’s chief executive officer Macfussy Kawawa said the bank will roll out the facility this quarter.
He said: “The share purchase loan facility is a facility that we thought of bringing up to make sure those that do not have immediate finance we can provide them with the finance so that they can participate in the ownership of the business of companies that are listed on the MSE.
“The basic offering is where if you want to buy shares say of K100 000, then the security becomes the shares that you purchase and then the repayment could be arranged. It could be quarterly or monthly or at once so it is very flexible and something that I encourage either businesspeople or individuals to utilise.”
Kawawa said the facility is meant to ease financing burden for those businesses and individuals interested to invest at the capital market because the security will be the shares one is purchasing.
In a separate interview, Minority Shareholders Association of Malawi general secretary Frank Harawa described the initiative as positive, stressing that most SMEs and individuals lack capital to invest in shares.
One of the SMEs, Frank Muula of Unified Technologies Limited, hailed the bank’s innovation, saying such interventions could open the doors for investment opportunities to individuals that do not have enough capital.
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