One of Africa’s leading banking institutions, Bank of the nation, National bank of Malawi (NBM) plc has launched a new product for its clientele, a share purchase loan facility in a bid to encourage the people to invest into shares on the Malawi Stock Exchange (MSE).
The bank’s Chief Executive Officer (CEO) Macfussy Kawawa has announced.
Kawawa made the reveal of the new product on the sidelines of a cocktail the bank organised for small and medium enterprises (SMEs) in Malawi’s commercial city, Blantyre.
According to Kawawa, the National Bank of Malawi will roll out the facility anytime soon this quarter.
“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,” he said, adding;
“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.
The NBM boss said that it could be quarterly or monthly or at once so as to ensure that it is very flexible.
“This is something that I encourage either businesspeople or individuals to utilise,” Kawawa said with a matter-of-fact tone.
The facility, Kawawa explained, 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.
“This is something that I encourage either businesspeople or individuals to utilise.”
Macfussy Kawawa
NBM Chief Executive Officer
