NBS Bank to invest millions in workforce

Post was last updated: May 8, 2017

Malawi Stock Exchange (MSE) listed commercial banks—has unveiled a multimillion kwacha project to improve the skills of its human resource to turn things around economically.

While the total budget for the project is not known, what is clear is that this will happen within the context of the newly signed pact with Rabot Bank of the Netherlands.

The move is part of the bank’s strategies to return to profitability.

NBS Bank Chief Executive Officer Kwanele Ngwenya said this on Thursday when the bank hosted business and economic journalists based in Blantyre to a cocktail at Sunbird Mount Soche in Blantyre.

“We have to invest in skills development so we don’t make losses as has been the case in the previous years. We have singled out various programmes that are aimed at boosting the financial status of the bank,” Ngwenya said.

He indicated that the bank has vibrant staff that need more investments to improve their banking skills.

“Our focus is to have right people in right positions so that we improve their performance for the betterment of the bank,” Ngwenya said.

Ngwenya added that the bank has since entered into a skills development partnership with Rabot Bank.

“The partnership entails that they train our workforce in skills within the banking sector for NBS Bank. This, of course, needs the dedication and commitment of our current members of staff,” he said.

He urged journalists to report more issues to do with the economy and financial markets, including the impact of agriculture to Malawi’s economy.

“Journalists have a pivotal role to play in ensuring that the issues of the economy are well articulated and understood by the public at large. We at NBS Bank are committed to helping journalists to that effect,” Ngwenya said.

In his remarks, Secretary General of the Association of Business Journalists (ABJ) Taonga Sabola hailed NBS Bank for engaging business and economics journalists.

“We are geared at reporting more issues to do with the economy and what banks do in their daily operations. Our call is that information has to be made available when needed so that we inform the public,” Sabola said.

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