NICO Group Managing Director Vizenge Kumwenda says, for instance, the innovation hub has assisted people living in remote areas to access loans on phone and other mobile banking services.

Kumwenda says Covid 19 pandemic forced the company to intensify investment in technology in order to meet the needs of the people.

“Mobile financial transactions are convenient and affordable. As NICO, we feel promotion of innovation and technology are key for the country to achieve social economic development,” said Kumwenda.

On his part, the company’ Chief Executive Officer responsible for Technology, Clarence Gama said it is imperative that government has started allocating resources to promote science and technology.

A few days ago, government launched the operationalization of the Science and Technology fund, which is under the National Commission for Science and Technology.

The fund aims at achieving a science and technology led development country.

Minister of education, Agnes Nyalonje said the fund will advance science, innovations and technology for sustainable growth and development in Malawi.