NBM Development Bank Limited has entered into a partnership with the Public Private Partnership Commission (PPPC) to facilitate access to long-term financing for transformative development projects across the country.
NBM Development Bank (NBMDB), a wholly owned subsidiary of National Bank of Malawi (NBM) plc, provides both debt and equity capital to start-ups, existing businesses and high-risk ventures that contribute significantly to economic development.
Speaking during the signing ceremony on Tuesday, NBM Development Bank General Manager, Bernard Masi expressed optimism about the potential of the partnership to drive sustainable national development.
“Through our international collaborations and affiliated institutions, we intend to source and attract long-term capital into the bank so that we can provide funding to large infrastructure projects that would have a significant impact on the economy,” said Masi.
He further indicated that the newly established agreement between the two is expected to unlock new avenues of long-term financing for development projects, particularly those driven by local entrepreneurs.
“At the heart of this collaboration is a shared goal, which is to empower local Malawians to take an active role in building the nation through infrastructure and service delivery ventures that create a lasting impact.”
“Most commercial banks do not provide startup funding due to the perceived high risks, but at NBM Development Bank, we are structured to take on that challenge. We finance both greenfield and brownfield projects, as long as they are viable and have a developmental impact,” added Masi.
On his part, PPPC CEO, Patrick Kabambe, hailed the agreement as a milestone that will enhance the Commission’s efforts to implement PPPC projects through local participation.
He further indicated that this collaboration with regional and international development finance networks enables PPPC to engage with global capital providers through NBM Development Bank’s platforms which opens new opportunities for Malawi to attract external investment and technical expertise.
“One of the biggest challenges we face is access to long-term finance, especially for local investors. This partnership with NBM Development Bank will enable us to unlock that potential by supporting Malawians to invest in infrastructure and service delivery.”
“This collaboration will not only address the supply and demand sides of long-term capital but will also ensure that more PPPC projects are led or co-owned by Malawians, creating a ripple effect in terms of job creation, service delivery, and national progress,” said Kabambe.
According to the two parties, the MoU further aligns with national development priorities, including the Vision 2063 agenda, the Agriculture, Tourism, and Mining (ATM) strategy, and the MEGA Farms initiative being championed by the Government.
Notable sectors that are being targeted are Agribusiness – both mechanization and value addition, Education, Energy, ICT, Health, Manufacturing, Mining, Tourism, Water, and Sanitation.
Since its establishment in 2019, NBM Development Bank has championed projects that have promoted import substitution, job creation, environmental sustainability, and access to quality healthcare and education.
