Standard Bank Malawi has revised the Visa cardholder fees to K5,000 and will be charged twice a year in July and December 2020.

The new rate above translates to K2500 per cardholder, according to a notice by the bank.

Considering the negative impact that the coronavirus pandemic has on Malawian businesses, Standard Bank and Industrial Commercial Bank of China (ICBC), partnered in May this year and identified a trusted and reputable agent called GUOMAO enabling us to connect Malawian Businesses to Chinese Suppliers and Manufacturers successfully.

According to a circular by the bank, there is high demand in Medical supplies such as PPE and ventilators, we have positioned ACAP to be in the forefront, so as to assist in the identification of suppliers, negotiation of price, language barriers, payment terms and logistics of goods. “To aid in the procurement of Medical supplies, our Agents have agreed to reduce their commission fees from 3% to 0.5% for all Medical Supplies purchased from China.” says the circular.