National Bank of Malawi (NBM) plc has challenged the information and communication technology (ICT) entrepreneurs and young innovators to think globally and compete internationally.
NBM said it is ready to provide funding to help them realize their dreams of creating socio economic viability for their initiatives which will positively impact on their communities and the economy at large.
Speaking at the 2020 ICT Association of Malawi (ICTAM) conference on Friday in Mangochi, NBM plc Deputy Chief Executive Officer and Chief Commercial Officer Harold Jiya said NBM plc fully understands and appreciates the pivotal role that innovations and technology play in Malawi’s developmental agenda.
“NBM plc has a continuing partnership with ICTAM on ICT innovation. This Investment in ICT development by National Bank of Malawi is a vehicle for the creation of employment for the youth. By resourcing the ICT sector we are harnessing and leveraging on the energies and determination that is latent in our youth to foster rapid economic growth by fueling the birth and nurturing the growth of businesses that start from scratch and have potential to grow into mega corporations.
“It is also the realization and appreciation of this very fact and reality that the bank recently established the NBM Development Bank. This is a subsidiary of the Bank that is offering lines of financing to business startups. It has provided an avenue where brilliant ideas find a base to anchor potentially powerful businesses.”
“The ICT sector needs a lot of resourcing and that calls for specialized financing; therefore the timing of the coming in of the NBM Development Bank is most opportune,” explained Jiya.
He also appealed to other private sector players to support the local ICT industry and young innovators by among others, utilizing local talent and local ICT companies.
Opening the conference, Minister of Information Gospel Kazako hailed NBM plc and other partners for sponsoring the ICT Innovations conference saying such partnerships are needed for the country to move forward in narrowing the digital and innovation gap.
“Each one of the partners has a stake in ICT or in knowledge and products coming from ICT thus nurturing such partnerships will go a long way towards achieving the country’s transformative agenda,” said Kazako.
The conference further honoured innovators for their submissions in the Fintech and General innovations category of the NBM Plc Innovation Jam awards.