By using this site, you agree to the Privacy Policy
Accept
Nthanda Times
Ad imageAd image
  • Home
  • National
  • Politics
  • Health
  • Education
  • Local News
    • Parliament
    • Mining
    • Business and Finance
    • Elections
    • Technology
    • Governance
    • Human Rights
  • Environment
  • Sports
    • Airtel Top 8
    • Tnm Super League
Nthanda TimesNthanda Times
Font ResizerAa
  • Home
  • National
  • Politics
  • Health
  • Education
  • Local News
  • Environment
  • Sports
Search
  • Home
  • National
  • Politics
  • Health
  • Education
  • Local News
    • Parliament
    • Mining
    • Business and Finance
    • Elections
    • Technology
    • Governance
    • Human Rights
  • Environment
  • Sports
    • Airtel Top 8
    • Tnm Super League
Follow US
© 2025 Nthanda Times. All Rights Reserved.
- Advertisement -
Nthanda Times | National News | Business and Finance | National Bank commits to finance artisanal, small-scale mining in Malawi
Business and Finance

National Bank commits to finance artisanal, small-scale mining in Malawi

Watipaso Mzungu
Watipaso Mzungu
Published February 25, 2024
Share
3 Min Read

National Bank of Malawi (NBM) – a leading banking institution in Malawi – has expressed commitment to providing startup capital to artisanal and small-scale miners to facilitate growth of the sector.

Recommended Stories

Unyolo rising the ladder of professionalism in marketing industry 1
Thokozani Unyolo excels, roped into CMO Council, now among top women achievers
World Bank’s IDA approves US$80m absence-of objection grant for Malawi’s Fiscal Governance Program for Results
RBM, Police in Joint Currency Awareness for Community Leaders
EDF, Norsad Capital sign pact to address funding gaps impeding enterprises’ growth in Malawi

Malawi’s long-term development blueprint – Malawi 2063 (MW2063) –identifies mining as one of the strategic sectors that have potential to support industrialisation of the country’s economy.

In its initial 10-year MW2063 implementation plan, the country aims at harnessing the mining sector in value addition and increase export of finished products.

However, mining is largely informal economic sector that includes workers using basic tools to extract from the earth everything from gold and gemstones to vital metals.

But speaking at the Air Cargo Malawi Mining Stakeholders’ Forum on Friday, NBM Corporate Banking Manager, Frank Kunje, expressed the bank’s willingness to provide loan facilities to artisanal and small-scale miners.

Kunje NBM realizes the critical role mining sector plays to the growth of every economy in the world
Kunje: NBM realizes the critical role mining sector plays to the growth of every economy in the world

Kunje said this would enable the miners to grow and make quick gains from the sector.

“As you’d recall very well, from the MW2063, mining has actually come out very clear as a very strategic tool to the development of the country and us as the National Bank, we haven’t just been idle. We thought it’s also an opportunity that we can help our clients, especially the small and medium enterprises that are actually embarking into the mining sector,” he said.

He added, “So, as a bank, we have various products that we’ve developed in assisting these SMEs. And apart from the products, we’re not only stopping there, but we’re also putting various initiatives to help to export this because we’ve seen that mining sector can help the country to address problems of forex, and we have seen this as also an area which National Bank can help the country to end the problem of forex.”

Air Cargo Malawi Chief Executive Officer, Thokozani Unyolo, said the company observed that there has been a significant increase in volumes of rare earths being exported to western countries.

Unyolo stated that the forum was therefore organized to enable players and stakeholders in the mining sector to identify challenges the sector faces and suggest solutions to the same so that the country benefits more from the sector.

She added that metals are critical to the economies – necessary for computers, mobile phones, airplanes, medical devices, rechargeable batteries and much more.

Previous Article Navicha Roads and Airports need to be rehabilitated ATM Strategy to boost Malawi’s Economy in 2024/2025 Budget
Next Article Air Cargo Malawi LTD Mining Stakeholder Forum 83 Malawi Government calls for enhanced transparency, accountability in mineral exportation

Popular Posts

graduate

DOWNLOAD – 2025 Public university admission lists released

The National Council for Higher Education (NCHE), in collaboration with the Ministry of Higher Education, has today released the names…

By
Nthanda Times Reporter
1 Min Read
LL CITY Council visits sand mined areas in Lilongwe
Environment activist urges MEPA to call for more awareness on dangers of illegal sand Mining

Environment activists have urged Malawi Environment Protection Authority (MEPA) to create more…

3 Min Read
Chakwera 3
DPP, NAP caution government on “insensitive” borrowing as debt hits MK15.1tn

The opposition Democratic Progressive Party (DPP) and National Advocacy Platform (NAP) have…

4 Min Read

You Might Also Like

President Chakwera shakes King of Saudi Arabia after the signing ceremony
Business and Finance

Chakwera lauds Saudi Arabia for financing infrastructure projects in Malawi

President Dr. Lazarus McCarthy Chakwera has saluted and applauded the Government of the Kingdom of Saudi Arabia for the various…

3 Min Read
freddy
Business and Finance

TCF affects business activities in first quarter of 2023

Local business captains have singled out Tropical Cyclone Freddy (TCF) as the biggest setback that affected business activities to thrive…

3 Min Read
Lazarus cHAKWERA 3
Business and Finance

Chakwera calls for enhanced investment, trade partnership with Malawi

President Lazarus Chakwera has extended an olive branch to prospective investors to come and invest in Malawi and make trade…

3 Min Read
President Chakwera (back to camera) saluting SA-based Malawians investors after the audience
Business and Finance

Chakwera dangles carrots to SA-based Malawian investors

Malawi President Dr. Lazarus McCarthy Chakwera has called upon Malawian investors based in South Africa to consider ploughing their investments…

3 Min Read
Nthanda Times
  • Quick Links
  • Live Scores
  • TNM Super League
  • Airtel Top 8
  • Privacy Policy
  • Editorial Policy
  • Cookie Policy

© 2025 Nthanda Times. All Rights Reserved.

Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

spinner
spinner
load more