Mr Francis Pelekamoyo, the Chairman of the Board, , and your fellow Board members

• Mr Aleksandr Kalanda, the Chief Executive, OIBM and your Management team

• Members of staff present here

• Distinguished invited guests

• Ladies and Gentlemen

I feel greatly honoured to be with you today to witness yet another milestone in the history of Opportunity International Bank Malawi (OIBM) – the official opening of Mzuzu Branch.

Let me congratulate OIBM for its visible effort in making banking services available to all people, particularly the rural masses in a manner that is convenient to them. This is evidenced by the increasing number of customers and retail outlets it has opened since commencing banking operations a few years ago. Statistics show that OIBM is one of the largest private sector microfinance providers in Malawi. Over the years, we have witnessed great innovation by OIBM through its focus on small scale saving, salary and wage payment systems and focus on paperless banking.

The Chairman, distinguished guests, today, I am pleased to witness another great drive by OIBM to further deepen the financial sector in Malawi. The opening of a branch in Mzuzu demonstrates OIBM’s commitment to bringing banking services to all parts of the country. The branch in Mzuzu will provide a wider choice for banking services to households, particularly the rural masses and micro entrepreneurs who previously could not afford banking services. Under ‘Banki Yanga’ motto, the bank has indeed managed to bring banking services to the people. This, I must say, is quite commendable and in line with Government’s objective of empowering rural masses by bringing financial services nearer to them. I therefore would like to applaud both, the Board and Management for their efforts and hard work in this regard.

The Chairman, distinguished guests, as regulators, our primary objective is to safeguard the interests of the depositors and the general public by among other things constantly monitoring the safety and soundness of banks. This is why we take keen interest in banking facilities or projects that aim to serve the public better. I am glad to acknowledge here this morning the efforts OIBM has made in complying with our requirements in this area. I am also pleased to note the satisfactory financial performance of the bank in the year ended 2007.

The Chairman, distinguished guests, let me finish by congratulating all the shareholders on this achievement and I wish you success in all your business endeavours. 

With these remarks, distinguished guests, it is now my singular honour and pleasure to officially open the OIBM Mzuzu Branch.

Thank you all for your attention and may God bless you all.

DEPUTY GOVERNOR
RESERVE BANK OF MALAWI