National Bank of Malawi chief says business slow in Q1

Post was last updated: March 28, 2018

National Bank of Malawi (NBM) Chief Executive Officer, Macfussy Kawawa, has said business remained subdued in the first quarter of the year 2018 but has expressed hope that it will pick up in coming months.

Kawawa said this at the weekend when the bank recognised excellent members of staff. The event saw five employees and their spouses walking away with a trip to Dubai plus $1,000 [about K730, 000] each.

“Usually, the first three months of the year are slow, so they may not really give a good indication of what the year may turn out to be. So business is still subdued because, generally, the economy is slow but also because it’s a quarter that people are coming from festivities.

“We remain positive that things are going to change for the better, given that there are indicators of a better environment. Inflation is trending downwards, so are rate is stable,” Kawawa said.

On the awards, Kawawa said NBM has an initiative to reward employees that have excelled.

According to Kawawa, the bank presents silver awards every quarter, gold awards every half year and platinum awards at the end of the year.

“This is the fourth event that we have conducted under this programme. We have been doing this since 2014. We must, of course, be patient in terms of how we reap the benefits.

“But certainly, the awards have increased motivation and productivity but, beyond productivity, we have also seen creativity where people find solutions to problems of the bank,” Kawawa said.

One of the awardees, Charles Sandramu, who works as a messenger at the bank’s South End offices, said that the initiative is indeed motivating and has given him zeal to work extra hard.

He said that he was nominated because he helped the bank to apprehend people who stole from a customer who had some difficulties in using an Auto Teller Machine.

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