MyBucks Banking Corporation Limited is changing it’s name to Centenary Bank Limited.
This follows the final approval by the Registrar of Financial Institutions for the 100 percent acquisition of the bank by the Centenary Rural Development Group Limited of Uganda and the Catholic Archdiocese of Lilongwe.
A statement signed by MyBucks board chairman Dr. Francis Pelekamoyo, Centenary Group chairman Prof. John Ddumba-Ssentamu and the Most Rev. George Desmond Tambala of the Archdiocese of Lilongwe states that the new shareholders have also fully recapitalized the bank as required by the Registrar of Financial Institutions.
Reads part of the statement:” The Registrar of Financial Institutions has granted final approval for the acquisition, change of name and has issued the bank with a new banking licence bearing the newly approved name.”
It further says a public notice for change of name as required by the Companies Act will be published in due course adding that the acquisition process will be completed as soon as the bank receives approval from the competition regulation authorities who are now at an advanced stage in assessing the acquisition.
“The final approval by the Registrar of Financial Institutions and the issuance of a new banking licence is a significant milestone in the history of the bank. Following the fresh capital injection, the bank is now well positioned to serve its customers better as well as expand its footprint and product offering,” it reads.
Felix is the Head of Channels at MyBucks since April, 2020. He is responsible for the digital channels and agency Read more
Chitera appointed Acting MD for FDH BankChitera appointed Acting MD for FDH BankAfrica-Press – Malawi. The Board of Directors of Read more
Minister of Trade and Industry Mark Katsonga Phiri says the launch of the Pyxus Agriculture Limited Groundnut Processing Plant will Read more
Airtel Africa has sold its 723 towers in Malawi to Helios Towers, an independent telecommunications infrastructure company, for US$55 million Read more
Reserve Bank of Malawi has ordered Auction Holdings Limited to begin a mandatory sale of 30 percent of it's foreign Read more
The sale of Airtel Malawi’s telecommunications tower to London-based Helios Towers plc will help Airtel to improve and strengthen its Read more
A Mchinji based organization, Girls Activist Youth Organization (GAYO) has trained village savings loan groups locally known as Banki Mkhonde Read more
Malawi’s forex shortage is threatening operations in the airline business, creating uncertainty on the future of the industry, Business News Read more
Local tobacco producers are expressing fear that this year’s tobacco market will be affected by the recent fuel price hike. Read more
National Bank of Malawi (NBM) plc has registered a 52 percent after-tax profit of K34.21 billion for the year ending Read more
