NBM Introduces Kasupe Finance
National Bank of Malawi (NBM) has introduced Kasupe Finance programme that is aimed at uplifting livelihoods of people doing village savings and loans (VSLs).
The Bank’s Head of Retail Banking Division, Oswin Kasunda, says among others, the programme will allow the VSLs to open accounts without service fee and collateral.
He says the account holders will also get cheque books at 50 percent off price and free internet banking while receiving free financial management trainings.
He disclosed this on Friday during a launch of the programme in Blantyre.
“The village banks have not been associated with the banks. We felt this is an opportunity to engage them to fill the gaps and the challenges that they face,” he said.
Angella Kachelenga of Virtuous Women, a VSL group based in Blantyre, says the programme “Will help us to increase our benefits and do away with fraud.
“You may have heard of people running away with members’ contributions but such issues will now be history,” she said.