ATLANTA, 17 September 2015, (MaraviPost): As Malawi Government and business struggle to take advantage of its large Diaspora population and the large potential for remittances and knowledge transfer, It is obvious to those that have tried to interact with Government and Banks like National bank that what we have so far has been lip service with no need to actually offer concrete plans.
President Peter Mutharika came to the USA and addressed Malawians on the very issue and the seriousness his Government takes the issue. Since that meeting all we have heard is some government officials running around in Europe on the tax payer’s dime holding meetings and coming up with the way forward.
However there is yet a central location in the Ministry Of Foreign affairs or simple website where one can go to for the latest updates. You would think that the government would see the need to consult with Diaspora rather than come with solutions from within Malawi when the issue involves those that are living outside the country.
Many in the Diaspora would like to invest in Malawi especially when the Kwacha has lost so much value to make it very attractive to invest back at home.
How can you invest when Banks like National Bank take over six months to open an account even when you send them documents validating a foreign account? Some of the reasons provided are that US have forced them to take these steps. How can that be?, when Banks in the USA and UK allow us to open accounts online and within minutes especially when you can show proof that you have another verified account with the Bank.
PayPal will open full Banking services online within minutes If you can verify a Bank account with online access. Malawi Banks should seek same EDI capabilities to verify these accounts real time online. All they need is the software capabilities.
Once you open the account it is also difficult to get email responded to the online Banking requests. The Email: ebu@natbankmw.com provided by the Bank does not get responded to. Simple email notifications and Balance alerts are not provided by the Bank.
Even when you physically visit the Bank, there is no hurry to provide services. A Customer wrote the following on their Facebook page after being frustrated by the Bank:
“Dear National Bank I have been standing for 50 minutes on enquiries queue at your Mzimba Branch the gentleman has only served two people at the rate of 1 person 30 minutes. Please take him to backroom, his record slowness has been reported to you several times, unless of course customers complaints don’t matter as usual”
The Malawi Diaspora is ready to do its part but Malawi Government and business still appear to be ill equipped to take advantage of the potential.
