National Bank of Malawi (NBM) Plc has awarded Innovations Jam Winner: LINQ Finances and Noble Agriculture technology for their great innovations presented in the Innovations Jam competition.
The two winners scooped MWK2,300,000.00 and an all-expenses paid international trip to attend the SA Innovation Summit expo happening this year from 27th to 29th September, 2022.
During the prize presentation held at Latitude Hotel in Lilongwe on April 4, 2022, NBM plc Lilongwe service Centre Manager Mr. Eric Bob Munthali said National Bank of Malawi fully understands and appreciates the pivotal role that innovations and technology play in Malawi’s developmental agenda. He disclosed that the bank will continue supporting the innovators across the country.
“We have been supporting the Innovations Jam competition for the past 3 years and we will continue supporting the young minds with innovative ideas that can change the world. We also believe that the Investment in the ICT development is a vehicle for the creation of employment for the youth.
“By partnering with ICT Association of Malawi on ICT innovation, we aim to achieve 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,” said Munthali.
In his remarks, Wakisa Silindu, co-founder of LINQ finances commended National Bank of Malawi for giving innovators in the country a platform to showcase their various inventions.
“The initiative by National Bank of Malawi is a great step towards the future development of Malawi. The world needs young people who can envision the future and create products that will sustain the future needs. With the platform created by National Bank of Malawi, will inspire more young people to have creative minds hence they will contribute towards the development goals of the country,” said Silindu.
He urged his fellow innovators to utilize the platform created by National Bank of Malawi and ICTAM to take their various innovations across the world for exposure and support. He also petitioned the innovators to persevere and be creative in pursuit of their goals.
National Bank of Malawi entered a memorandum of understanding (MoU) with the ICT Association of Malawi to manage the Innovations Jam from 2019 to 2022 to enhancing innovation of both products/services and processes. The Innovation Jam intends to encourage and reward excellence in innovations that will provide solutions to a myriad of problems that the country face.
The financial Institution has been supporting the competition for the past three years and through NBM Development Bank, the financial institution is also financing business startups across the country.In the previous year, National Bank awarded Samson Fiado of Easy Books Accounting and Amanda Phiri of Proxima after merging the overall winners in Fintech category and Open Innovation Category respectively. The two received sponsorship to attend African Innovations Summit 2021.