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Mpamba Fesa is a TNM Mpamba and Old Mutual Unit Trust product that enables customers to save from as low as MK5,000 in the Old Mutual Interest-Bearing Assets Fund through TNM Mpamba. The maximum amount per transaction is K1,000,000. This is a convenient way of saving and having access to competitive returns. The money is invested from Mpamba wallet and will generate interest for the time it is in the Fesa account. The accrued interest is paid to customers every month. Disinvestments also go through a customer’s Mpamba wallet.
How do I register for Mpamba Fesa Account?
- Register for Fesa on Mpamba mobile wallet by dialling *444#
- Select Banks and Financial Services
- Select Fesa
- Select Register and follow the registration prompts
After registering, you will receive an SMS confirming your registration and that your account will be activated when you make an initial deposit. It’s that easy.
Simply follow the menu depending on what you want to do (e.g. Invest, Disinvest or Balance check).
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What's in it for you?
- Competitive interest returns
- Convenience - no need for completing forms
- Accessible - minimum investment amount of K5,000 allows anyone to invest.
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Why you should choose Mpama Fesa
Make your money work for you
Don’t let your money sit idly, gain competitive returns on your savings.
You decide
You can invest as often as you wish, whenever you want to.
No limits
There are no limits to how much you can have in your Fesa account.
Want to know more about Mpamba Fesa?
If you need more information on the product, we have answered a few questions you might have below. You can also call us on our toll-free line number 329.
These are collective investment schemes. They involve pulling funds together and investing in various assets and securities through a professional portfolio/investment manager. For Old Mutual, the investments are held by a Custodian (Standard Bank of Malawi) and managed by professional asset managers (Old Mutual Investment Group). Collective investment schemes are regulated by the Reserve Bank of Malawi.
Make sure you are registered on Mpamba and then register for Fesa.
In several financial instruments like treasury bills, fixed deposits and other money market securities.
Unit Trusts offer some of the most competitive returns on the money market in Malawi. The Money Market Fund’s benchmark return is the 91 Day average Treasury bill rate.
You can invest (push funds through), disinvest (withdraw), and check the account statement or accrued interest to date.
You can invest as often as you as wish. However, your investment instruction will be processed within approximately 15 minutes from the time of your instruction. The investments will reflect in your account as soon as the processing is complete and you will receive an SMS notifying you of this.
The minimum investment amount is K5,000 and the maximum amount per transaction is K1,000,000. There are no transaction charges for investing in or disinvesting from Fesa. The only applicable charges are when withdrawing funds from your Mpamba wallet.
There are no limits to the amounts you can have in your Fesa account.
The annual administration costs for Fesa are 6.0%. These fees are charged at fund level and are not deducted from a customer’s Fesa account. As a customer, you can invest and withdraw your money in part or in full with no penalties or fees. The only applicable charges are when withdrawing funds from your Mpamba wallet.
On the Mpamba Fesa menu, you select disinvest, which is menu item 2. Thereafter, you enter the amount you wish to disinvest. You will receive a request for confirmation of the transaction. Once you do that, you will receive an SMS informing you that your disinvestment is being processed. Transactions are processed within 15 minutes.
Call 411 if you want to change PIN.
- Dial: +265 886 463 399
- Toll Free Line: 329
Fesa will be governed by Mpamba terms and conditions.
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