Chomanda (L) receives a dummy cheque from Chijere

National Bank of Malawi (NBM) has rewarded villages banks upon conclusion of a three-month Agulu Lathu Promotion. Speaking in Lilongwe on Thursday, NBM business development manager Chimwemwe Chijere said the promotion was a success.

“These village banks while protecting their money had an opportunity to access loans which they used either as individuals or as a group and be able to generate more revenue in their respective businesses,” he said.

During the event, the bank presented awards to three village banks.

The overall winning group Amazing Grace received K3 million while the second and third winners received K1 million each.

Amazing Grace chairperson Tisungane Chomanda said they are excited to emerge the winner.

“We are happy because not only have our funds been safe with National Bank, but we have also gotten ourselves a bonus of K3 million which will add value to our businesses,” she said.

At the beginning of the promotion, people expressed fear on social media that the bank wants to rip-off village banks.