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The bond can be bought via mobile phones and offers a higher interest rate than offered by commercial banks.
The merger is to enable the banks to meet the capital requirements of Malawi's apex bank.
The monetary decision is aimed at reducing borrowing costs and spurring economic growth.
This is to support private sector and small and medium-sized enterprises in West Africa.
The Pan-African lender has persuaded regulators in 25 of the 33 African markets where it holds a banking licence to allow citizens to quickly and easily open bank accounts via their mobile phones
The operator no longer has the right to exercise foreign transfers.
The facility is aimed at expanding digital financial services and increasing funding for SMEs.
The initiative is designed to offer free banking services for businesses in the first three years of their registration and incorporation.
Through the initiative, businesses can obtain interest-free credit up to Rwf60 million.
The is aimed at stimulating lending and the economic growth of the country.