National Bank of Malawi (NBM) through its Mo626 electronic payment platform has sealed a partnership with Impact Events, the organisers of Busy Signal concert and Sand Music Festival.
The partnership seeks to curb fraud that marred ticket sales during last year’s event and the bank has since put in $15 000 (about K11.5 million) towards the concert.
NBM head of strategy, marketing and corporate affairs Wilkins Mijiga said yesterday the bank is devoted to develop the country’s arts and tourism industry.
“As our social corporate responsibility, last year we sponsored the Sand Music Festival to the tune of $10 000 [about K7.6 million], but this year, it has pleased NBM to increase the sponsorship to $15 000 because we are impressed with the way the festival was conducted,” he said.
Mijiga said the Sand Music Festival and the Busy Signal concert are of direct benefit to the growth of Malawi’s entertainment and tourism industries.
NBM e-banking manager Enala Chirwa said the bank has partnered Impact Events and Lucius Banda, who is the event’s chairperson, to curb fraud that marred last year’s Sand Music Festival during ticket sales.
Banda said last year’s festival accumulated ticket sales of over 80 percent, but they only benefited from 20 percent of the sales as organisers.
Chirwa said it is against this background that Mo626ice, as a mobile phone banking platform through which people will be buying tickets for the Busy Signal concert, has come in.
“NBM wants to ensure that entertainment organisers benefit from their events by utilising Mo626 rather than using the physical ticketing system which is prone to fraud,” she said.
The Busy Signal concert is slated for September 3 at Civo Stadium in Lilongwe.