Malawi: NBM PLC secures US$100 million from Afreximbank
The National Bank of Malawi (NBM PLC), the largest bank in the country by assets, has secured a significant US$100 million from the African Export-Import Bank (Afreximbank) to enhance trade finance.
This Trade Finance Facilitation Facility (AFTRAF) represents the largest financial support extended by Afreximbank in Malawi. NBM PLC plans to utilize this facility to boost its capacity for financing trade transactions across key sectors, including manufacturing, energy, and agriculture. Additionally, the funding will enable the bank to issue letters of credit guaranteed by Afreximbank, facilitating the importation of essential goods into the country.
“The Afreximbank credit line will help reduce the risks and costs associated with cross-border transactions, giving businesses of all sizes—from large corporations to small enterprises—access to the tools they need to thrive,” Harold Jiya, National Bank of Malawi Plc CEO, said during the signing ceremony in Cairo.
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