Malawi Stock Exchange (MSE) registered commercial bank NBS Bank plc has engaged an extra gear to help develop the Small Medium Enterprises (SME) sector by offering financial and technical solutions through SME clinics it has conducted countrywide.
The development comes after the Bank relaunched its SME offerings that the Bank believes will cater for individuals who run the SMEs.
Speaking at an SME clinic in Blantyre, NBS Bank Head of SME & Agribusiness, Mdauko Ngulube, said the Bank realizes the vital role SMEs play towards the economy. As such, it has a dedicated SME portfolio that ensures that SMEs participate in economic development successfully.
“Through the SME portfolio, SME customers can access financial solutions that are specific and unique to their businesses and allow them to take on opportunities that the economy provides,” said Ngulube.
He also acknowledged the challenges SMEs face, such as collateral requirements or access to capital which NBS Bank is prepared to assist with.
“NBS Bank offers bid bonds or tender guarantees of up to MK200 million without requiring collateral. The Bid Bonds facility enables SMEs to bid for contracts and projects through competitive tendering,” said Ngulube.
The SMEs clinics were held in the three cities of Blantyre, Lilongwe and Mzuzu, where participants and speakers shared informative tips throughout.
One of the Lilongwe SME clinic participants, Annie Kachepa, Managing Director of Langa Investments, hailed NBS Bank plc for assisting her in growing her business.
“I wish to encourage my fellow entrepreneurs on the importance of engaging NBS Bank when it comes to the development of their businesses; the Bank helps; I am a witness,” said Kachepa.