Malawi’s leading solar technology provider, 265 Energy Limited, and National Bank of Malawi (NBM) on Wednesday signed a memorandum of understanding (MoU) designed to make clean energy solutions more accessible to Malawians.
The agreement allows NBM customers to access a wide range of 265 Energy’s high-quality products through a convenient loan arrangement.
The MOU was signed at NBM Headquarters in Blantyre, marking a significant collaboration between Malawi’s number one energy company and the country’s largest financial institution.
The event was graced by the presence of NBM Chief Executive Officer, a Mr. Jiya, and 265 Energy’s brand ambassador, renowned gospel artist Miracle Chinga.
Through this agreement, NBM customers can now acquire 265 Energy’s top-tier products, such as gas cookers, industrial burners, solar systems, solar water pumps, and much more, on loan.
This financing option is expected to greatly benefit Malawians by making these essential, yet high-cost, products more affordable and accessible to a broader audience.
Speaking at the signing ceremony, 265 Energy Limited Founder and Chief Executive Officer, Mfundo Mbvundula, emphasized the importance of the partnership in addressing the energy needs of Malawians.
“We want to provide affordable solutions to Malawians, and partnering with National Bank is crucial in that regard. The bank will finance all products its customers need that are on the higher side in terms of price. 265 Energy provides high-quality solutions, from kitchen appliances to solar systems for homes, farms, schools, and businesses,” said Mbvundula.
This strategic partnership brings together two of Malawi’s most reputable brands to offer flexible financial solutions for clean energy products.
The loan facility will enable more Malawians to embrace renewable energy and gas solutions, thus reducing dependence on traditional energy sources and contributing to environmental sustainability.
NBM Head of Retail Oswin Kasunda expressed his enthusiasm about the partnership, highlighting the bank’s commitment to offering innovative financial solutions that empower Malawians.