NBM plc partners Sky Energy, 265 Energy for products financing.
- October 1, 2024
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National Bank of Malawi (NBM) plc has partnered with Sky Energy Africa and 265 Energy to offer financing for electric cars and energy solutions that are easy, flexible, and affordable.
Through this partnership, NBM plc customers can access financing for electric vehicles at Sky Energy Africa, and solar and gas solutions at 265 Energy.
Speaking after signing the Memorandum of Understanding (MOU), NBM plc Head Retail Banking Division Oswin Kasunda emphasized the importance of easing customers’ access to these products, contributing to clean energy solutions in Malawi.
“These are young and upcoming companies that are offering energy solutions in Malawi that is why we have seen it necessary to partner with them. As a country is driving clean energy solutions, we thought that we must be part and parcel of supporting this initiative to make sure that customers have access to these products so that we can also manage environmental related problems,” said Kasunda.
On the loan payment period for the two products, Kasunda said the Bank is flexible depending on the customer’s affordability.
“When the electric vehicles were launched, there were thousands of enquiries, people trying to understand the solutions but the limiting factor for escalation to the adoption has been the cost of the vehicles which the NBM Plc is now trying to solve,” explained Thomson. In his remarks 265 Energy Chief Executive Officer, Mfundo Mbvundula also said the partnership ensures that access to solar and gas solutions has been simplified.
“Through this initiative the Bank takes the upfront cost and the customer can repay the bank over months or a year based on the price and what they discuss with the Bank. This will make it more affordable for the customer to get good quality solutions from us,” explained Mbvundula.
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