The Reserve Bank of Malawi Governor Dalitso Kabambe has challenged commercial banks to come up with innovative ways of attracting more people to access their services.
Speaking on the sidelines of a banker’s annual dinner and dance in Lilongwe on Saturday, Kabambe said it is worrisome that many Malawians are opting for unconventional banks such as banki mkhonde due to their flexibility.
Said Kabambe: “Our economy is recovering and yet we are not seeing many people accessing conventional banking services. This is why I am challenging banks to come up with innovative products in this era of ICT [information and communication technology] to attract more Malawians so that they are banked.”
In his remarks, Bankers Association of Malawi first vice-president Kwanele Ngwenya agreed with the governor that banks need to do more to reach out to more people.
“The message is positive and we agree with the governor that we should take advantage of the existing opportunities to attract more customers,” he said.
The theme for this year’s event was Doing Business in Turbulent Times.