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| Business |
| NBS Bank goes to Chitipa |
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by
Francis Tayanjah-Phiri, 24 October 2005
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08:45:28
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NBS Bank Friday opened an agency in Chitipa, a development that will save resident from having to travel the long and dusty road in search of banking services in Karonga.
The agency has a full banking service that includes an auto-teller machine where customers can instantly withdraw up to K60,000 cash at once.
The banks Chief Executive Officer John Bizwick said the bank decided to open in Chitipa after realising that the district is one of the few places in Malawi, without any banking facilities.
“One of our philosophies is to take banking to the people, hence we felt we should take our services to this district which has for long been shunned by other banks,” he said.
Biziwick said he did not regret that his bank gambled to open the agency in the district, a place generally viewed as insecure for such services.
“Let me be honest that we are impressed by the business we are getting here and I promise that within 12 months or even a lesser period, we will expand. We want to expand and make this a full branch,” he said.
He said he is convinced Chitipa, being a district bordering both Zambia and Tanzania, has business potential that justifies the existence of a full branch with all banking facilities.
“We as NBS Bank have always believed that we need to avail ourselves even in rural areas because this is where people need us most. Statistics show that 80 percent of Malawi population (mostly rural) don’t have access to banking facilities and we want to target that percentage,” said Biziwick.
Among the people who have welcomed the opening of the agency is Chitipa Central Member of Parliament Luwi Musongole who said it will save many people from accidents that used to occur as they travelled to Karonga for banking services.
“Your coming here is a blessing to not only farmers, but all the people of Chitipa,” said Musongole.
A teacher at Chitipa Secondary School Rosegine Mukumbwa said she is happy she no longer has to travel to Karonga to access banks.
“Just imagine travelling over a hundred kilometres of the dusty road, paying K800 return fare just to withdraw K2,000. We are happy we now have a bank,” she said.
NBS, according to Biziwick, will also open another agency in Rumphi on November 1, after realising that farmers there have to travel to Mzuzu for banking business.
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