NBM plc compensates 2023 Innovation Jam Winners with MK12.3 million

BLANTYRE-(MaraviPost)-In a big transfer to honour its dedication to the general winners of the 2023 Innovation Jam, the National Bank of Malawi (NBM) plc has introduced a money compensation totalling K12.3 million for the awardees.

In the preliminary association, the winners, Richard Mtukula and Matthews Jere had been set to attend the celebrated 2nd Annual TICON Africa Conference in Kenya in September 2024 as a part of their prizes.

However, unexpected circumstances prevented their participation thereby compelling the Bank to separate the whole expenditure quantity for the journey equally between Mtukula of ‘Know Your Customer (KYC)’ and Jere of ‘Khungu Langa’ software program improvements.

Each winner acquired K6,150,000 as a mirrored image of NBM’s dedication to supporting innovation in Malawi.

NBM Marketing and Corporate Affairs Manager, Akossa Hiwa, emphasised the financial institution’s dedication to fostering creativity and honouring its guarantees.

“We recognize the importance of honouring our commitments to those who contribute to the spirit of innovation. While logistical challenges prevented us from facilitating the winners’ attendance at the TICON Africa Conference, this cash compensation demonstrates our ongoing support for these brilliant innovators and ensures they are celebrated for their achievements,” stated Hiwa.

In his remarks, Jere, whose software program is a platform for skincare and analysis, counseled NBM plc for its dedication.

“This recognition and financial support will help us continue developing our innovative ideas and expand our business. Currently, we are working on integrating our system for further analysis and aiming to expand to other countries. This financial boost will help us engage AI developers and host the system on global servers to improve our analysis,” Jere shared.

In 2023, the Bank managed to fly the 2022 Innovation Jam winners to Uganda for the same convention.

NBM plc partnered with the ICT Association of Malawi (ICTAM), committing an annual K75 million for innovation incubation assist, along with K40 million for the Innovation Jam initiative.