By Mtisunge Gwedeza

Blantyre, 23 June, Mana: University of Malawi Vice- Chancellor, Professor Samson Sajidu recently signed a memorandum of understanding (MOU) between University of Malawi (UNIMA) and New Building Society (NBS) Bank to facilitate mobile banking services to staffs at workplace through a number of products.

UNIMA Public Relations Officer, Alfred Banda said that the partnership will benefit staff members by improving their welfare through workplace banking services provided by the NBS bank.

“UNIMA staff members will benefit from NBS Bank through various products such as employer-supported unsecured loans, bank accounts and service offerings, overdraft facilities, mortgages, finance literacy among others. 

“This will benefit staff members by improving their welfare as UNIMA employees will be able to access loans from NBS Bank at reduced interest rates,” he added.

Chief Retail Banking Officer at NBS Bank, Victoria Chanza said was excited with the new partnership, adding that this builds on what the two had already established in the past.   

“This was a great day for both institutions; we have signed the MoU mainly to enhance workplace banking. NBS Bank has a strong relation with UNIMA such that the bank has an on-campus branch.

“We also provide fee collection services for both graduate and postgraduate students. Today is simply another milestone in this ongoing partnership,” Chanza added.

To ensure effectiveness of the partnership, the two entities said there will be regular assessment where the memorandum will be evaluated on a regular basis to determine whether the partnership is achieving its intended goals.