AHL Commodities Exchange (AHCX) and New Finance Bank (NFB) are strengthening their partnership on Warehouse Receipt Financing (WRF) through personnel training programmes.
The first training of NFB branch managers took place on Saturday at AHCX’s head office in Lilongwe.
Trainees were taken through the product’s features as well as how commodity is received at AHCX warehouses.
On Sunday, NFB customer service staff based in Blantyre and Limbe also went through the same training to ensure that farmers and traders who come to their branches for the service are assisted professionally.
The training took place at NFB Blantyre offices and was conducted by AHCX officials.
Under the partnership, farmers and traders are able to access short term loans from NFB using a warehouse receipt received after depositing grain and legume commodities at AHCX as collateral.
Speaking in Blantyre after the second training, NFB’s Retail and Agricultural Liaison Officer said that the training was timely and will make a big difference to NFB staff as it equipped them with adequate product knowledge.
Alice Bonongwe explained that following the training, NFB was ready and confident to market the facility widely to its clients and grow the loan portfolio under the product.