The Reserve Bank of Malawi (RBM) Governor, Dalitso Kabambe, Governor Dalitso Kabambe, said the central bank has budgeted K15 billion to replace worn out bank notes this year.

The budgeted sum will be spent from the K57 billion profit that RBM made last year, indicated in the annual financial statement signed by the government. Calling on people to embrace electronic payments, Kabambe said that the K15 billion could have been used by the government, for various productions.

The call to embrace electronic payments has been made amidst the spread of coronavirus in Malawi, as people are urged to practice social distancing, as mobile money fees have been lowered to promote cashless payments, to avoid the spread.  In the light of the Covid-19 pandemic, FDH Bank has launched a digital transaction promotion dubbed ‘Osafinyika’ which will encourage customers to use the bank’s digital platforms in order to reduce visits to banking halls as one way of preventing the disease.