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Bankers Association of Malawi (BAM) on took some time to share success stories which, it claimed needed recognition.
Speaking in Blantyre during the 2018 Bankers Annual Dinner and Dance, Barn President, Paul Gina, said the banking sector in Malawi has for a long time remained the unsung hero when it comes to the contribution it makes towards the progressive growth of the economy.
Among other things, Gina said, while the sector has been buttered at times with strong aggression, for the apparent slow or no response to downward changes to the bank or policy rates of the Monetary Policy Committee to the contrary,
All is set for a two-day agri-business conference organised by the Bankers Association of Malawi (Bam) in Lilongwe mid July.
The indaba will offer an opportunity to key stakeholders from the country’s agriculture sector to brainstorm on measures for improving the sector’s input to the economy.
Among other topics include agri-business for economic growth in Africa, surviving the hurdles in the agriculture industry, living the agriculture miracle, and incentivisation and stimulation of agri-business in Africa.
First Merchant Bank (FMB) were crowned champions of the Bankers Association of Malawi (Bam) Sports Day for the third consecutive year at College of Medicine Sports Complex in Blantyre on Saturday.
The event attracted bankers from different banks in the country who competed in various sporting disciplines.
FMB emerged champions in volleyball and football before being crowned overall winners.
The bank’s Head of Human Resources and Administration, Nargis Khan, said the win is a compliment to their commitment towards the development of sports in the country.
A Saturday of intense action ended in great victory for First Merchant Bank (FMB) as they emerged overall champions of the Bankers Sports Day at College of Medicine (CoM) Sports Complex in Blantyre.
FMB won in several sports disciplines in the event that had 11 banks competing.
FMB triumphed in; volleyball, 100-metresprints and also finished third in football after losing to Ecobank.
FMB Head of Marketing Sylvia Mataka hailed her sports men and women before describing their victory as a great achievement for the bank.
The Farmers Organisation Limited (FOL) has said sufficiently financing the agriculture sector is essential for the realisation of farmers’ dreams of reaping maximum benefits from their toil.
FOL Retail Sales and Marketing Manager, Hannock Madeira, said they are doing everything possible to ensure farmers’ needs are met, especially in the wake of climate change.
Madeira made the remarks on the sidelines of a two-day Agribusiness Conference organised in Lilongwe by the Bankers Association of Malawi (Bam).
“Farmers need to have funds to procure good quality inputs for production. That is where the element of financing the agriculture sector becomes crucial. Most farmers cannot afford good quality products because of lack of funds,” Madeira said.
The Bankers Association of Malawi (BAM), a grouping of commercial banks, says it expects interest rates for both loans and deposits to improve in view of a favourable economic environment.
In July this year, the Reserve Bank of Malawi (RBM) reduced the policy rate by 400 basis points from 22 percent to 18 percent and banks reduced their lending rates to an average base lending rate of 26.5 percent and the weighted interest on deposits standing at eight percent.
But responding to a written questionnaire, BAM chief executive officer Violette Santhe said while commercial banks are all under BAM, they have to make distinct decisions that make commercial sense with their respective institutions; hence, respond differently to changes in the RBM policy rate.