Businesses in Malawi and Tanzania could find it easier to trade and invest across borders as efforts intensify to strengthen economic links between the two countries.
National Bank of Malawi (NBM) plc and its Tanzanian subsidiary, Akiba Commercial Bank, were among institutions pushing for stronger financial connections during the Tanzania–Malawi Investment Forum in Dar es Salaam.
The forum, held from September 7 to 9 at the TANTRADE grounds, brought together government officials, investors, business leaders, financial institutions and other stakeholders to explore opportunities for deeper trade and investment.
Akiba Acting Managing Director Wezi Mwazani said stronger links between government, businesses and the financial sector could help turn investment discussions into actual business opportunities.
“At Akiba Commercial Bank, we believe that economic growth accelerates when opportunities are connected to capital, markets and the right partnerships,” said Mwazani.
She said the value of the forum would ultimately depend on whether discussions and connections result in tangible investments.
“The true value of a forum such as this is realised when a conversation becomes a partnership, when a partnership becomes an investment, and when that investment creates jobs and contributes to economic growth,” she said.
NBM Head of Digital Banking Services Division William Kaunda said the bank’s strategic investment in Akiba could help make cross-border business transactions more convenient.
“As NBM plc, we recognise that businesses today are not confined by geographical borders,” said Kaunda.
He said businesses exploring opportunities in Tanzania and other markets need financial solutions that allow them to trade, receive and make payments and manage their operations across borders.
Kaunda said digital banking was increasingly becoming an important enabler of regional trade as businesses sought faster and more convenient ways of conducting transactions.
“Through our strategic investment in Akiba Commercial Bank, we see an opportunity to strengthen the connection between the two markets and provide businesses with the confidence that their banking needs can be supported as they grow,” he said.
He said NBM would continue investing in financial solutions and partnerships that respond to the changing needs of businesses while supporting increased trade and investment between Malawi and Tanzania.
Akiba Commercial Bank is a subsidiary of NBM plc.
