Munthali hands over the cheque to Chigalu

National Bank of Malawi Plc. has expressed its commitment for a sustainable future in the energy sector and addressing challenges the country is facing.

The bank said this when it made a K2 million sponsorship towards the Renewable Energy Industries Association of Malawi (REIAMA) 2023 Energy Conference happening on October 26-27 at Sunbird Nkopola in Mangochi.

Eric Bob Munthali-National Senior Manager in Retail Banking division pointed out that energy is an important aspect to Malawis' economy.

Munthali said: "They (conference attendees) have to critically analyse the issues that are affecting Malawis' economy in terms of the energy sector, as you are aware we have a lot of problems in the energy sector affecting performance of various sectors. After the two days we want to see tangible resolutions that will push the Malawi economy forward.

"As a bank we have customers and clients in the energy sector, some are just business entities who rely on energy, if it is not performing well, it has a bearing in their business and the bank.

Sosten Chigalu Renewable Energy Industries Association of Malawi (REIAMA) President commended the bank for coming through for them after they made a request.

"The conference is very important for the nation at large. Sets a pace on how the country can look at the blessings of the many resources, exploit them for the livelihood, business and consider the generation of the future so that we do not deplete them."

Chigalu explained the conference will explore three sub themes: "Energy diversification; we are much dependent on hydropower but the country has many rivers and other resources; solar throughout the year. It just has to be stable.

"The second theme is the regulatory environment; it has not been stable, policy changes back and forth. We want government's commitment to the energy policy and investment being predictable

"Third is financing in and investing for various energy sources. If there is no money on the table then it is all just a dream. We will explore through speakers."

This year's conference will be held under the theme: 'Energy diversification for sustainable development.'

Source: https://kulinji.nitel.mw/article/news/2023/bank-committed-sustainable-future-energy-sector