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Adopt digital financial services — Reserve Bank

Reserve Bank of Malawi (RBM) has urged people of Sub-Traditional Authority (T/A) Nkapita at Chingale in Zomba District to adopt digital financial services to reduce theft and financial mismanagement.

Team Leader for Digital Financial Services (DFS) campaign awareness in Zomba, Ella Kangaude, made the plea at Chingale Trading Centre in the district.

Kangaude emphasised the importance of embracing digital financial Services.

“Among others, the DFS campaign intends to encourage people to adopt usage of Airtel money, Mpamba and banks for business transactions, as the world is going digital,” she said.

Kangaude added that once adopted, the DFS would reduce the cost of money replacement and printing by the government while allowing those in Village Savings and Loans (VLS) have easy access to loans from banks.

Elitta Sabelo, Chairperson of M’mango Village Bank, welcomed the development, stating that her group is ready to start using the technology to prevent money misplacement.

Rameck Phiri, who is a business person at Chingale Trading Centre, concurred with Sabelo and said he is ready to start using the initiative on his business.

The DFS awareness campaign will run for 20 days and target rural masses like women, people with disabilities, youths, village banks, and Village Savings and Loans.

The Reserve Bank team will visit all T/As, trading centers, schools and other locations throughout the district.

By Emily M’mangisa, MANA

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