Malawi has secured over $100 million in transformative investments following the signing of a three-year Project Preparation Facility Agreement between NBS Bank, a commercial bank, and the African Export-Import Bank (Afreximbank).
The agreement establishes a Joint Project Preparation Facility (JPPF) that will support the design, preparation, and bankability of priority projects in key sectors such as energy, transport, manufacturing, and tourism.
Under the terms of the agreement, NBS Bank and Afreximbank will jointly fund pre-investment activities including feasibility studies, technical assessments, and legal advisory services to ensure projects are investment-ready. The initiative is expected to generate a strong pipeline of bankable projects capable of driving economic transformation.
During the signing ceremony in Abuja, Nigeria, on Thursday (3rd), NBS Bank’s CEO Temwani Simwaka expressed optimism about the partnership:
“This agreement reflects our long-term vision to catalyze development in Malawi. By working with Afreximbank, we are strengthening our capacity to implement high-impact projects aligned with national priorities and regional development goals,”
he said.
In her remarks, Kanayo Awani, Executive Vice President of Afreximbank for Intra-African Trade, emphasized the goal of supporting both the public and private sectors by preparing and co-financing impactful projects.
“This partnership aims to empower local institutions like NBS Bank to lead in the creation and development of projects. It is a significant step towards accelerating Malawi’s integration into intra-African trade and unlocking its economic potential,”
she stated.
In addition to financing, Afreximbank will implement a comprehensive training and capacity-building program for NBS Bank staff, including temporary secondments to the bank’s headquarters in Cairo, Egypt.
Source: Malawi 24
