20 | Malawi Mr Ngwenya, can you share your journey to becoming a part of the NBS Bank and how it has shaped your career? It has been an interesting journey thus far. I have constantly been determined to see my dream become a reality – which is to lead an African bank that is purpose-driven and plays in both the local and international space. The journey has had its highs and lows, but determination and persistence have kept me going. 2017 was the start of a new transformation journey for NBS Bank, and I am glad to have been at the helm of this transformation, leading a team of talented professionals to implement our strategic goals. Before I joined NBS Bank, I was with another Malawi-based development bank whose mission was that of transforming society and the economy of Malawi, especially when it comes to alleviating poverty and creating wealth by teaching society how to price for self-generated resources and invest back their money into a bank so that it yields returns. I have been in the banking sector for over 20 years and have had the opportunity to experience all forms of banking, corporate, commercial and retail/mass banking. I believe that banking should not only be about savings transactions but about finding solutions to address Malawi’s and Africa’s pressing issues, such as alleviating poverty and enabling small businesses across industries. This has been my driving force throughout my career. I believe that an Africa with excellence starts at an organizational level. I have immense pride to now be able to tell the success story of NBS Bank 6 years down the line. This is a tale of rebuilding for excellence and sustainable growth that has resulted in a profit trajectory from USD (1.02 million) to USD 17.4 million. What are the most significant changes you have observed in the banking industry since your career began? Digital transformation and innovation is definitely a significant factor that has altered the way we do banking. The market is constantly changing at a rapid rate with the advancement of technology worldwide. The blurring of industries is becoming more and more evident where industries are operating outside the norm; for example Telco’s are now offering banking services, and banks need to tap into these opportunities and close the gaps. The impact of value chain financing has also taken center stage, and Banks need to leverage this by creating and following the sources of money; for example, when you look into agriculture, instead of playing a role at the end of the cycle, banks should create opportunities or create an enabling environment from the beginning to the end of the farming supply chain. The relevance of Banks is shifting from mere banking services to solution provision for economic value and growth. How does NBS Bank tailor its services to suit the specific needs of the Malawian market? Our Bank’s DNA is rooted in a deep commitment to care—a commitment that extends far beyond mere words and becomes ingrained in every facet of our business. We understand that banking is not just about transactions; it’s about building trusted relationships, fostering financial well-being, delivering value-adding solutions and creating a culture of care for our customers, employees, and nation. Our strategy is based on pillars that spearhead customer-centricity and rewarding relationships with our customers and stakeholders, whilst building a culture of compliance and continually ensuring the governance framework remains tight. NBS Bank is passionate and dedicated to supporting the development of our nation in line with the MW2063 goals, which are evident through our partnerships with public and private organizations in various sectors such as Agriculture, Manufacturing, Infrastructure Development, Tourism, Energy, and Mining. This is why the Bank offers a wide array of services catered for individuals, SMEs and “For my team and I, NBS Bank will be everywhere without physical brick and mortar but focusing on the development of a robust last-mile infrastructure.”
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