Dear Valued Customer,
 
We are delighted to share the July edition of the Centenary Bank Customer Newsletter, bringing you the latest updates, insights, and stories to keep you connected and informed.
 
Here is what’s inside this month’s issue:
 
- A message from our Managing Director
- Launch of new products in partnership with Airtel Money
- Economic outlook
- Lending rates
- Father’s Day staff highlights
- Launch of a new product in partnership with PayChangu
…and more!

To view the full newsletter, please [click the following link](https://cente.dartsmw.com/uploads/Centenary_Bank_Newsletter_July_2025_0c68099c07.pdf)

Thank you for choosing Centenary Bank as your trusted partner. We remain committed to serving you better every day.
 
Warm regards,
Marketing Team
Centenary Bank

Your July Banking update

We are proud to announce our partnership with PayChangu, a collaboration that brings simplicity, security, and convenience to the forefront of how customers pay for goods and services.

This strategic integration will allow customers to make instant online payments from any bank directly into business accounts — through a single, seamless API.

The bank's Managing Director Godfrey Byekwaso made the commitment in Lilongwe when, in partnership with mobile payment platform, PayChangu, launched an instant Direct Bank Transfer Application. 

He said through the bank's mission of transforming lives through inclusive, convenient, simplified, and sustainable financial solutions, they are expanding access to digital finance for more Malawians — wherever they are and whatever they earn.

Chief Executive Officer for Pay Changu, Morgan Tembo, said the launch of this application directly addresses one of the key obstacles that businesses have faced in Malawi for far too long—delayed settlements and restrictive banking corridors that slow down commerce and limit growth.

He said the application is also key in financial inclusion.

Centenary Bank and PayChangu Partner to transform digital payments in Malawi

Centenary Bank and Airtel Money Unveil New Services to Simplify School Fees Payments and Value Access.

Via CenteMobile (Centenary Bank customers):
Dial *632#
→ Select 4: Other Payments
→ Select 1: School Fees Payment
→ Choose Bank Account or Airtel Money

📲 How to Pay School Fees with CenteFees:

Via Airtel Money:
Dial *211#
→ Select 8: School Fees Payment
→ Select 1: CenteFees
→ Enter Admission Number
→ Confirm Details
→ Enter Amount
→ Enter PIN
✅ Receive SMS confirmation


Centenary Bank, in collaboration with Airtel Money, has introduced two innovative digital financial services — Cente Fees and Cente Value — designed to make everyday transactions easier and more accessible for Malawians.

These services are part of the Bank’s ongoing commitment to bring convenience, efficiency, and inclusion to customers across the country.

Speaking during the launch, Centenary Bank Managing Director, Mr. Godfrey Byekwaso, emphasized the Bank’s mission to make banking simpler:

“We promised to make banking easier and more inclusive, and these two products are helping us do exactly that,” he said.

Cente Fees allows parents and guardians to pay school fees directly from their Centenary Bank accounts using Airtel Money — removing the need to visit the bank or the school.

Cente Value, on the other hand, enables Airtel Money agents to buy electronic value and transfer funds seamlessly between their Airtel wallets and Centenary Bank accounts — all from their mobile phones.

Airtel Money Managing Director, Ms. Thokozani Kamkondo Sande, welcomed the partnership, highlighting its role in supporting education and improving access to digital financial tools:

“Education is key to Malawi’s growth, and with many people using Airtel Money, we believe this partnership will make life easier for parents and agents alike,” she said.

She also encouraged users to keep their personal identification numbers (PINs) secure at all times.

Customers are already embracing the services. Edwin Watch, a parent, shared:

“I’ve used Cente Fees for two terms now. It’s very convenient. I don’t need to travel to make payments anymore.”

Bridget Mkhundi, an Airtel Money and Centenary Bank agent, also applauded the launch:

“Before, I had to walk long distances just to get value. Now I can do everything easily from where I am.”

With Cente Fees and Cente Value, Centenary Bank continues to deliver on its promise to offer customer-focused, innovative banking solutions that make a real difference in people’s lives

Centenary Bank and Airtel Money Introduce Easy Way to Pay Fees and Access Value

Our Old Town Branch in Lilongwe visited Temwani Chilenga's Zoe Orphanage,in Area 25, donating essential items to transform lives. The team, led by Branch Manager, Chawezi Longwe donated assorted items including bags of maize, food items along with detergents and hygiene products.  The Branch Manager also encouraged staff to continue supporting or visiting the orphanage on a voluntary basis. 

The orphanage, home to over 100 children, expressed deep gratitude, with its founder, Temwani Chilenga, personally thanking the branch for the generous support. . This initiative is part of our mission of transforming lives beyond financial services.

Old Town Branch Supports Zoe orphanage with essential donations, encourages continued voluntary engagement

Our Mzuzu Branch visited Ekwendeni School for the Blind, under the Livingstonia Synod in Ekwendeni, Mzimba, donating essential supplies to support children in need. Branch Manager Linly Ng'ambi led the team, bringing bags of maize, food items, sanitary pads, detergents, and hygiene products. She said, "As a bank, we believe in looking beyond our immediate business interests to identify and address the needs of our community. After careful consideration and consultation with local leaders, we recognized the Ekwendeni School for the Blind as an institution doing incredible work under challenging circumstances. Today's donation is our way of saying, 'we see you, we support you, and we stand with you in your mission.'"

The branch staff interacted with the children, some of whom expressed their wishes to become future bankers.

The Director of the school expressed gratitude, saying the supplies will significantly contribute to the students' well-being.

Mzuzu Branch supports Ekwendeni School for the blind

Centenary Bank Limited has donated K5 million to the Presidential Charity Initiative, further demonstrating its commitment to supporting community welfare. During the sponsorship presentation ceremony, the bank’s Managing Director, Godfrey Byekwaso, expressed the institution's pride in continuing its support for the initiative. He noted that the partnership aligns with Centenary Bank’s mission of transforming lives, extending beyond its banking products to positively impact the broader community. Byekwaso said, “We are proud to be part of this initiative that transforms the lives of natural disaster victims and needy tertiary students.”

Byekwaso further said, “We believe education is a powerful tool for change, laying the foundation for progress and national development. Our K5 million contribution is more than financial; it symbolizes our belief that every young person deserves access to education and a better future.”

Boyd Luwe, Fundraising Chairperson for the Presidential Charity Initiative, thanked Centenary Bank for its continued backing since the initiative's inception. He emphasized that the funds primarily benefit two groups: victims of natural disasters, particularly those affected by Cyclones Freddy and Ana, and needy students in tertiary institutions. Luwe also highlighted ongoing efforts to rebuild schools, underscoring that these funds serve as a lasting legacy for future generations, describing them as a “monument that will outlive us.”

The Presidential Charity Golf Tournament will take place at Limbe Country Club from Friday, October 10 to Saturday, October 11.

Centenary Bank Contributes K5 Million to Presidential Charity Initiative

In a strategic move to enhance financial inclusion and accessibility, Centenary Bank Limited has unveiled two new branches in Malawi this July, marking a significant expansion of its operational network. The strategic locations of these branches underline the bank's commitment to serving diverse communities and promoting economic growth in previously underserved areas.

Commenting on the developments, Acting Managing Director for Centenary Bank, Mr. Godfrey Byekwaso said “the first branch, opened in Mchinji District, is strategically positioned near the Malawi-Zambia border. This location which is a crucial financial hub which will be serving not only local residents but also facilitating cross-border trade and transactions. The proximity to the border is expected to streamline financial services for businesses and individuals engaged in international commerce, potentially boosting economic activities in the district”.

Mr. Byekwaso pointed out that “the second branch, located in Chikwawa District near Dyeratu Trading Centre in Malawi's southern region, aims to bring banking services closer to the rural population. This area, known for its agricultural activities and small-scale businesses, has long been in need of accessible financial services. The new branch is set to play a pivotal role in supporting local farmers, traders, and entrepreneurs by providing them with essential banking facilities and financial products”.

Mr. Byekwaso further expressed enthusiasm about these recent developments stating “By establishing ourselves in these strategic locations, we are not only bringing banking services closer to the people but also investing in the economic future of these regions”. The two branches will act as a hub to the bank’s expanding agency banking network.

The bank believes that access to financial services is a catalyst for development. These new branches will offer a full range of banking products and services, from savings accounts and loans to mobile banking solutions, tailored to meet the unique needs of the communities. In addition, Centenary Bank has announced plans to implement financial literacy programs in both regions, aiming to educate residents about effective money management and the benefits of formal banking.

With these new additions, Centenary Bank now boasts of a network of 16 branches across Malawi, reinforcing its position as a key player in the country's financial sector. As the bank settles into its new locations, both local communities and the broader economic landscape of Malawi stand to benefit from increased access to formal financial services.


Centenary Bank Expands Reach with new branches in Mchinji and Chikwawa

Centenary Bank Limited has donated 2 million kwacha to Habitat for Humanity Malawi as a way of collaborating to support families affected by Cyclone Freddy by building them houses.

Speaking during the handover ceremony, Acting Managing Director for Centenary Bank, Mr. Godfrey Byekwaso, said, “Our contribution is in line with our mission of transforming lives through inclusive, convenient, simplified, and sustainable financial solutions, which aligns with Habitat for Humanity’s commitment to improving lives across Malawi.” He added, “This collaboration marks a significant step in private sector involvement in disaster relief and community development in Malawi. It also highlights the growing trend of partnerships between financial institutions and NGOs in addressing critical social issues that need to be addressed.”

In his acceptance speech, the National Director of Habitat for Humanity Malawi, Mr. Victor Mhango, said, “Habitat for Humanity Malawi is grateful for the support received from the bank, as it will enable us to provide resilient housing to more households affected by Cyclone Freddy in Mulanje district.” Mhango pointed out that these resources will contribute towards the construction of 59 houses, which is the organization’s deficit in Nanchindwa area in Mulanje and that the provision of housing will be a great way to a sustainable pathway out of poverty for the affected families”.

Mhango encouraged other private sector entities to join in similar initiatives, highlighting that collaborative efforts are crucial for tackling the challenges faced by communities across Malawi.

Centenary Bank has previously partnered with various organizations to support victims of Cyclone Freddy through different initiatives.


Centenary Bank Donates 2 Million Kwacha to Habitat for Humanity to Aid Cyclone Freddy Victims

In a commendable act of corporate social responsibility, Centenary Bank's Limbe branch has donated a sum of K1 million to St Joseph's Hospital in Chiradzulu. The funds are earmarked for the much-needed renovation of the hospital's maternity ward, a critical facility serving countless women in the community.

The donation ceremony, held on 16th July at the hospital premises, was attended by bank officials and  hospital staff. Edward Nkhata, the Branch Manager for Centenary Bank's Limbe Branch, spearheaded the initiative. In his address, Nkhata elaborated on the bank's commitment to community welfare. He said “As a bank who’s mission is to transform lives, we believe this initiative speaks to our mission. Nkhata stated. "We approached the hospital administration to inquire about their most pressing needs. When the hospital administrator highlighted the dire state of the maternity ward, we didn't hesitate. This K1 million donation is our way of ensuring that mothers in our community receive the care they deserve in a well-maintained facility”.

The hospital's administrator, Sister Kanyumbu, expressed gratitude for the timely donation. She said “this generous contribution will go a long way in transforming our maternity ward. The renovations will significantly improve the healthcare experience for expectant mothers and newborns in our area. We are truly thankful for this partnership with Centenary Bank”.

According to hospital records, the maternity ward at St Joseph's Hospital serves a lot of women monthly, highlighting the critical nature of this renovation project. 

As the renovation project commences, both the hospital and the bank have committed to providing updates on its progress, ensuring transparency and accountability in the use of the donated funds.

Centenary Bank's Limbe Branch Makes K1 Million Donation to St Joseph's Hospital


>Centenary Bank has reported a K594 million profit-after-tax for the year ended December 31, 2023, from a K3.9 billion loss recorded in 2022. This is according to a summary of audited results the bank published last week, downloadable on the [here](https://cente.dartsmw.com/uploads/2023_Summary_of_audited_results_for_the_year_ended_31st_December_2023_b454ec2708.pdf).

In the report, the bank rates 2023 as a recovery year following adverse performance in the previous two years. 

>"The group achieved significant progress, specifically in business growth, customer confidence, improvement in liquidity, and enhanced customer experience. We have attained business volume growth and reduced the cost of doing business despite increasing economic pressures," 

However, it laments the continued downside risk the bank is facing in terms of increased impairments from existing facilities arising from economic conditions that have negatively affected its performance.

The bank reported earning K18.1 billion in interest income compared to the prior year's interest income of K15.0 billion, representing a 20 percent growth. Interest expense for the year was seen at K7.6 billion against the prior year's expense of K7.8 billion, representing a 2 percent interest expense reduction. 

## More Growth

Total non-interest revenue increased by 92 percent to K10.0 billion from K5.2 billion earned in 2022 due to an increase in exchange gains and an increase in commissions earned on lending and transaction fees. Impairment charges on loans and advances to customers declined by 31 percent to K1.8 billion in 2023, which is still on the higher side from K2.6 billion in 2022. Operating expenditure rose by 17 percent to K17.8 billion from K15.2 billion reported in 2022, mainly due to inflationary pressures. Total assets for the firm increased by 59 percent to close at K123 billion in 2023 from K77.2 billion in 2022, according to the report. 

"The growth is mainly driven by increased customer deposits arising from business growth strategies and changes in shareholding. The group's earnings per share for the year increased to K39.00 in 2023 from (K683) in 2022. Meanwhile, on outlook, the bank says it expects macroeconomic pressures to persist in the first half of 2024 and ease in the second half. It has since expressed optimism about continuing with business growth as it continues to implement the various business growth strategies embarked on since the start of 2023. 



Centenary Bank Achieves K594 Million Profit in 2023

Centenary Bank has launched digital insurance products and services through its  mobile App, CenteMobileMw. The App is currently available for Android devices on the Google Play store, and soon to be on the Apple store
According to the Bank, the new insurance offering includes motor vehicle insurance and funeral expense plans that customers can access and manage through the App.

Speaking on the development, the Bank’s Principal Bancassurance Officer, James Msiska, said “through our mobile banking App, customers can compare and select policies tailored to their needs in real-time. As an example, on  motor insurance, one can compare premium quotations from five of our partner insurers and select the one that better suits their budget. 

The cover can either be under  comprehensive or third-party coverage on private or commercial vehicles, after which they can conveniently pay using the same platform .Furthermore, they can pick up their physical insurance discs any Centenary Bank branch that is  convenient to them”.

Msiska added that “for funeral insurance, besides one registering for him or herself, customers can further select the number of family members to cover and the desired payout amount. For example, with a premium of K200, one would benefit a payout of K200,000, and  a premium of K1,000 for the maximum coverage of K1,000,000”.

The bank highlighted that by providing digital access to insurance products, it aims to improve customer experience and meet the evolving needs of clients through their mobile platform. The streamlined process allows customers to efficiently evaluate and purchase policies completely through the CenteMobileMw app. Msiska said “additionally, delivering insurance policies electronically is part of the Bank's effort to reduce paper usage and make a positive environmental impact”.

Centenary Bank Rolls Out Streamlined Digital Insurance for Customers

Today, we are pleased to present a comprehensive guide to facilitate your international transactions in various currencies. Centenary Bank is committed to ensuring a seamless and secure process for all your financial dealings. Below are detailed instructions for transactions in United States Dollars (USD), Euro (EUR), and British Pound (GBP).

## United States Dollars (USD) Transactions

**Receiving Bank**: Sparkasse Aachen, Germany

- Swift Code: AACSDE33
- Account Number (USD): 927207886
- Beneficiary Bank: Centenary Bank Limited, Lilongwe, Malawi (Swift/BIC: MBBCMWMW)
- Beneficiary Details: Account 50160004120021, Centenary Bureau De Change, Lilongwe, Malawi

## Euro (EUR) Transactions

**Receiving Bank**: Sparkasse Aachen, Germany

- Swift Code: AACSDE33
- Account Number (EUR): 1077263372
- Beneficiary Bank: Centenary Bank Limited, Lilongwe, Malawi (Swift/BIC: MBBCMWMW)
- Beneficiary Details: Account 50160004120054, Centenary Bureau De Change Ltd., Lilongwe, Malawi

## British Pound (GBP) Transactions

**Receiving Bank**: Sparkasse Aachen, Germany

- Swift Code: AACSDE33
- Account Number (GBP): 927207894
- Beneficiary Bank: Centenary Bank Limited, Lilongwe, Malawi (Swift/BIC: MBBCMWMW)
- Beneficiary Details: Account 50160004120043, Centenary Bureau De Change, Lilongwe, Malawi

## Key Considerations

- All transactions should be conducted via SWIFT MT103, addressed via AACSDE33.
- Accuracy in filling out transaction details is paramount to ensure successful processing.

This guide is designed to provide clarity and ease in your international financial transactions through Centenary Bank. We remain dedicated to offering you efficient and reliable banking services.

For further assistance or inquiries, please feel free to contact our customer service team.

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