Experts Hail Nedbank Disposal

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Experts have hailed the move by Nedbank to sell 100% of its shares to My Bucks Malawi saying it is an opportunity to revive the banking sector.

The experts have described the disposal as a positive development.

According to a statement the Bank has released, the decision was arrived at following its underperformance as it has only contributed 0.1% to Nedbank Groups and its market share was approximately one per cent.

Despite the Banks ambition to grow operations the institution has voluntarily disposed its shares to My Bucks, a Fintech company with South African origin, a move Professor Ben Kalua has hailed saying it has saved customers as the bank was collapsing.

“This is to the betterment of the customers as they have been saved from the financial constraints the bank was going through,” he said.

However another Economic Expert Dr. Betchani Tchereni told Zodiak Tuesday this as an opportunity for the rural masses to get access to financial efficiency.

Dr. Tchereni said this is a chance for those in rural areas to get access to efficient banking services through My Bucks Technology aspect.

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Last modified on Sunday, 12/01/2020

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