{"id":4550,"date":"2021-08-22T18:11:05","date_gmt":"2021-08-22T18:11:05","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/nbm-contributes-k60m-to-must-endowment-fund"},"modified":"2021-08-22T19:01:16","modified_gmt":"2021-08-22T19:01:16","slug":"nbm-contributes-k60m-to-must-endowment-fund","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/nbm-contributes-k60m-to-must-endowment-fund","title":{"rendered":"NBM contributes K60m to MUST Endowment Fund"},"content":{"rendered":"

Africa-Press<\/a> – Malawi<\/a>. <\/strong><\/span>The Bank of the nation, listed National Bank of Malawi (NBM) Friday committed K60 million to the Malawi University of Science and Technology (MUST) Endowment Fund.<\/p>\n

The University launched the Fund on 10th July 2021 in Lilongwe as one way of weaning itself from dependency on government subvention and establishing diversified revenue streams for the University.<\/p>\n

Speaking at MUST Campus in Thyolo, NBM plc Chief Executive Officer Macfussy Kawawa hailed the University management for coming up with an idea of an endowment fund.<\/p>\n

\u201cAs our partner especially in the scholarship program of supporting needy students, we thought as a bank, especially as The Bank of the Nation, we should support this noble cause by our beloved partner.\u201d<\/p>\n

\u201cAs the Bank of the Nation, we are cognizant of the fact that one of the key enablers of Malawi\u2019s vision 2063 development agenda is the development of human capital through provision of education and skills development for the youth.<\/p>\n

\u201cThis is why we at NBM plc have been running scholarship programs for the needy students in our public universities on top of awarding best performing students through our Corporate Social Investment (CSI) program for many years,\u201d said Kawawa.<\/p>\n

He announced that NBM plc will be channeling K60 million towards the MUST Endowment Fund to be remitted for the next three years starting this year up to the year 2023 with K20 million each year.<\/p>\n

\u201cWe believe this is a sustainable corporate social investment which will continue to yield results and support beneficiaries for a long time.<\/p>\n

\u201cWe believe our contribution to the fund will enhance our existing relationship with MUST and create continued awareness of our brand as the driver of tertiary education in the country and also as The Bank of the Nation while contributing to the Vision 2063 development agenda,\u201d said Kawawa.<\/p>\n

MUST Vice Chancellor, Professor Address Malata said the Endowment Fund will be of benefit for the University, including students. \u201cWe are very excited that NBM has responded to our call. Our Fund has several purposes including supporting needy students, research and teaching, plus infrastructure. What we have done is build the resource base which will take years.<\/p>\n

\u201cThe funds will be used to support students since the University will use the benefits, while the principal investment remains intact,\u201d she said. Malata said by December this year they are eyeing to raise at least K2 billion.<\/p>\n

The country\u2019s Vice President, Saulos Chilima graced the launch of the Fund in Lilongwe where a number of companies and individuals made pledges towards the Fund.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. The Bank of the nation, listed National Bank of Malawi (NBM) Friday committed K60 million to the Malawi University of Science and Technology (MUST) Endowment Fund. The University launched the Fund on 10th July 2021 in Lilongwe as one way of weaning itself from dependency on government subvention and establishing diversified revenue […]<\/p>\n","protected":false},"author":84,"featured_media":4549,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,25,8],"tags":[233,371,234,1615,1152],"class_list":["post-4550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-featured","category-homepage-english","tag-africa-press","tag-africa-press-malawi","tag-malawi","tag-malawi-university-of-science-and-technology","tag-national-bank-of-malawi"],"yoast_head":"\nNBM contributes K60m to MUST Endowment Fund - Malawi<\/title>\n<meta name=\"description\" content=\"The Bank of the nation, listed National Bank of Malawi (NBM) Friday committed K60 million to the Malawi University of Sc ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/nbm-contributes-k60m-to-must-endowment-fund\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NBM contributes K60m to MUST Endowment Fund\" \/>\n<meta property=\"og:description\" content=\"The Bank of the nation, listed National Bank of Malawi (NBM) Friday committed K60 million to the Malawi University of Sc ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/nbm-contributes-k60m-to-must-endowment-fund\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-22T18:11:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-22T19:01:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/08\/img-61229ec61232d.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1556\" \/>\n\t<meta property=\"og:image:height\" content=\"1037\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/nbm-contributes-k60m-to-must-endowment-fund#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/nbm-contributes-k60m-to-must-endowment-fund\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"NBM contributes K60m to MUST Endowment Fund\",\"datePublished\":\"2021-08-22T18:11:05+00:00\",\"dateModified\":\"2021-08-22T19:01:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/nbm-contributes-k60m-to-must-endowment-fund\"},\"wordCount\":432,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/nbm-contributes-k60m-to-must-endowment-fund#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/08\/img-61229ec61232d.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Malawi\",\"Malawi University of Science and Technology\",\"National Bank of Malawi\"],\"articleSection\":[\"all news\",\"economy\",\"Featured\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/nbm-contributes-k60m-to-must-endowment-fund#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/nbm-contributes-k60m-to-must-endowment-fund\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/nbm-contributes-k60m-to-must-endowment-fund\",\"name\":\"NBM contributes K60m to MUST Endowment Fund - 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