Lilongwe, 17th March, 2020 – Following the acquisition of Nedbank Malawi by MyBucks Banking Corporation Limited (MyBucks Malawi), where approval was secured from the Reserve Bank of Malawi to acquire 100% of Nedbank Malawi on 2nd December 2019, MyBucks Malawi is pleased to inform the general public that it has now completed all suspensive conditions for the acquisition.

MyBucks Malawi will now start integrating the two banks and consolidate them into one entity under the MyBucks Banking Corporation. 

The merger of the operations will be done in a manner that yields the greatest value to all stakeholders. 

The bank would like to assure all Nedbank customers as well as its existing MyBucks Malawi customers that it will ensure smooth operations during the integration and transition period so that both sets of customer bases can enjoy transactions with minimal disruptions.

The bank will also keep all customers informed during this transition period.

As highlighted by the CEO of MyBucks Malawi Zandile Shaba in the press release dated December 9th, 2019, the acquisition will place MyBucks Malawi in an optimal position to increase profitability, improve customer experience and enhance the impact that the bank has in our society.

About MyBucks Malawi

MyBucks Banking Corporation (MyBucks Malawi) was licensed on 13th May, 2014 and commenced its operations on 24th July, 2015 here in Malawi. It currently has 9 branches, 3 micro-finance outlets and over 76 agency banking outlets. The bank offers banking solutions, credit, insurance and Microfinance products to its customers. The product offering enables customers to manage their financial affairs easily and conveniently. The bank is a licenced commercial bank and is regulated by the Reserve Bank of Malawi.

Contact:

Investor related matters: investors@mybucks.com

Public relations:                 pr@mybucks.com/ marketing@mybucksbanking.mw

Tel:                                          +265 1 772 500