NBM plc unveils electric vehicle to promote green financing
National Bank of Malawi (NBM) plc has launched an electric vehicle (EV) as part of its drive to advance environmental, social, and governance (ESG) principles, promoting green financing and sustainable development in Malawi.
The K74-million vehicle forms part of the Bank’s broader strategy to integrate ESG principles into its operations while supporting environmentally friendly technologies.
Speaking during the handover on Tuesday, NBM plc’s SME Consultant, Micheal Chikapa said the acquisition reflects the Bank’s ambition to lead Malawi’s transition to a greener economy.
“National Bank wants to be number one, and this vehicle is a statement of our commitment to ESG. It represents a milestone in integrating sustainability into the Bank’s operations,” said Chikapa.
He added that the electric vehicle complements several ongoing ESG initiatives, including nationwide tree-planting programmes and the installation of solar-powered pumps and equipment in health centres and schools.
Chikapa stressed that NBM plc’s Green Finance Product, allows customers to access affordable credit facilities for renewable energy solutions through partnerships with Sky Energy Africa and Energy 265.
He said customers with active accounts can obtain a quotation from Sky Energy Africa, after which NBM plc assesses the asset before approving funding.
“The EV aligns with our strategy to reduce carbon emissions and promote clean energy. We have invested in impact projects, including the ‘Adopt a Forest’ programme to combat deforestation and promote biodiversity,” he said.
Commenting on the partnership, Sky Energy Africa Operations Manager, Kondwani Tchereni said the collaboration aims to expand access to renewable energy solutions across key sectors.
“NBM plc clients can visit our offices for renewable energy solutions in education, health facilities, agriculture, and residential setups, get a quotation, and access favourable financing from the bank,” said Tchereni.
Tchereni also highlighted the economic and environmental benefits of electric mobility.
“With a single charge costing about K5,000 to K5,500, one can travel 300 to 350 kilometres while reducing greenhouse gas and carbon emissions,” he said.