TNM Mpamba Limited and Old Mutual Malawi continue to provide world-class digital financial services via mobile technology to their joint customers. The two partners are pleased to announce that Mpamba Fesa has made tremendous gains in the three years the product has been on the market. Mpamba Fesa is an investment product that allows Mpamba customers to invest as well as disinvest their money with Old Mutual Unit Trust direct from their Mpamba wallet. The product gives any Mpamba wallet holder the ability to invest and earn interest on money that may otherwise sit idle in their Mpamba wallet or other storage mediums. The product is powered by Old Mutual Unit Trust Company Malawi Limited, managers of the first and only registered Unit Trust Scheme in Malawi. Currently Old Mutual offers two unit trust funds: The Money Market Fund and the Balanced Fund. Mpamba Fesa funds are invested in Old Mutual Unit Trust Money Market Fund, a high yielding and flexible money market investment prod- uct in Malawi. Apart from demystifying money market investment, Mpamba Fesa provides real time solutions where users under- take investment transactions in the comfort of their homes. Announcing at the completion of system enhancements, TNM Mpam- ba’s General Manager Mr. Chikhulupiliro Mphatso said that the enhanced service allows customers to do more than was the case before. “Mpamba Fesa customers are now able to invest, disinvest, check balance and check mini statement on their own, unlike before when they were mainly relying on contacting TNM Mpamba for most of these services”, Mphatso said; “He added that Mpamba Fesa is an easy and convenient service that improves access to the mainstream financial services, espe- cially for the unbanked and underserved customer. The revamped Mpamba Fesa offering is part of TNM’s new consumer campaign, ”Ndizotheka” which aims to empower and create possibilities for Malawians by offering a wide range of edge-cutting and affordable solutions. Old Mutual Unit Trust Company Managing Director Mr. James Mhura said “statistics have shown that the savings culture among most Malawians is still low and Mpamba Fesa has come to foster the culture of saving and investment as the product offers com- petitive returns, convenience, affordability and transparency to investors.” Mpamba Fesa offers the most convenient way to invest on the money market. There is no paper work and any Mpamba customer can invest in instruments that would ordinarily require substantial amounts. The product has a minimum investment amount of MK1, 000. Interest is accrued and reflected on one’s Mpamba Fesa account on a daily basis. To register for Mpamba Fesa, a custom- er dials *444#, selects 5 for Financial Services, chooses Fesa and then follows the on-menu prompts. Other than offering the investment product, TNM Mpamba Ltd also provides an opportunity for registered customers to pay bills, send and receive money, buy airtime together with data and move money from their Mpamba wallets to bank accounts and vice versa. PRESS STATEMENT MPAMBA FESA RELAUNCH 1 ST JUNE 2020 Patience Chatsika Marketing and Corporate Affairs Manager Old Mutual (Malawi) Limited 30 Glyn Jones Road P.O. Box 393 Blantyre FOR ENQUIRIES CONTACT [email protected] +265 (0) 888 89 74 14 Limbani Nsapato Manager, Brand and Communications Telekom Networks Malawi 5th Floor, Livingstone Towers Glyn Jones Road P.O. Box 3039 Blantyre [email protected] +265 (0) 888 89 34 83
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TNM Mpamba Limited and Old Mutual Malawi continue to provide world-class digital financial services via mobile technology to their joint customers. The two partners are pleased to announce that Mpamba Fesa has made tremendous gains in the three years the product has been on the market. Mpamba Fesa is an investment product that allows Mpamba customers to invest as well as disinvest their money with Old Mutual Unit Trust direct from their Mpamba wallet. The product gives any Mpamba wallet holder the ability to invest and earn interest on money that may otherwise sit idle in their Mpamba wallet or other storage mediums.
The product is powered by Old Mutual Unit Trust Company Malawi Limited, managers of the first and only registered Unit Trust Scheme in Malawi. Currently Old Mutual offers two unit trust funds: The Money Market Fund and the Balanced Fund. Mpamba Fesa funds are invested in Old Mutual Unit Trust Money Market Fund, a high yielding and flexible money market investment prod-uct in Malawi. Apart from demystifying money market investment, Mpamba Fesa provides real time solutions where users under-take investment transactions in the comfort of their homes. Announcing at the completion of system enhancements, TNM Mpam-ba’s General Manager Mr. Chikhulupiliro Mphatso said that the enhanced service allows customers to do more than was the case before. “Mpamba Fesa customers are now able to invest, disinvest, check balance and check mini statement on their own, unlike before when they were mainly relying on contacting TNM Mpamba for most of these services”, Mphatso said;
“He added that Mpamba Fesa is an easy and convenient service that improves access to the mainstream financial services, espe-cially for the unbanked and underserved customer.
The revamped Mpamba Fesa offering is part of TNM’s new consumer campaign, ”Ndizotheka” which aims to empower and create possibilities for Malawians by offering a wide range of edge-cutting and affordable solutions.
Old Mutual Unit Trust Company Managing Director Mr. James Mhura said “statistics have shown that the savings culture among most Malawians is still low and Mpamba Fesa has come to foster the culture of saving and investment as the product offers com-petitive returns, convenience, affordability and transparency to investors.”
Mpamba Fesa offers the most convenient way to invest on the money market. There is no paper work and any Mpamba customer can invest in instruments that would ordinarily require substantial amounts. The product has a minimum investment amount of MK1, 000. Interest is accrued and reflected on one’s Mpamba Fesa account on a daily basis. To register for Mpamba Fesa, a custom-er dials *444#, selects 5 for Financial Services, chooses Fesa and then follows the on-menu prompts.
Other than offering the investment product, TNM Mpamba Ltd also provides an opportunity for registered customers to pay bills, send and receive money, buy airtime together with data and move money from their Mpamba wallets to bank accounts and vice versa.
PRESS STATEMENTMPAMBA FESA RELAUNCH
1ST JUNE 2020
Patience ChatsikaMarketing and Corporate Affairs ManagerOld Mutual (Malawi) Limited
30 Glyn Jones RoadP.O. Box 393Blantyre
FOR ENQUIRIES CONTACT
+265 (0) 888 89 74 14
Limbani NsapatoManager, Brand and CommunicationsTelekom Networks Malawi
5th Floor, Livingstone TowersGlyn Jones RoadP.O. Box 3039Blantyre
+265 (0) 888 89 34 83
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