NMBZ’s XPlug expands to Malawi

NMBZ has se­cured more than US$185 million in credit lines and is finalising an additional US$70 million, which is expected to further support its lending portfolio and offset the impact of fee cuts.

NMBZ Holdings’ (NMBZ) fintech subsidiary XPlug is expanding its operations to Malawi as it continues to grow its regional footprint beyond the six African markets it currently serves.XPlug, functions as a comprehensive fintech operating system—effectively a ready-made digital bank that can be adopted by other financial institutions.NMBZ chief executive officer Gerald Gore told The Financial…

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