During the Institute of Bankers (IoB) dinner, IoB Chief Executive Officer, Lyness Nkungula called out commercial banks to intensify efforts in championing the national financial inclusion agenda.

According to Nkungula, there is need more people that can make savings and translate those savings into investment, for the economy to grow. On the other hand, Bankers Association of Malawi president, Kwanele Ngwenya, said commercial banks are working together in ensuring that most Malawians are brought on board. Ngwenya’s words follow after figures show that over 70% of Malawi’s population has no access to formal banking services.

Prior to the dinner, IoB organised a workshop for 10 financial institutions that have been involved in financing production of non – traditional cash crops across the country, where it was reveled that inclusive agri-business financing could transform the sector. The gathering also observed that commercial banks have disbursed $65 million towards the production of the non-traditional cash crops.