By Nelson Gonjani:
Malawi Stock Exchange-listed National Bank of Malawi (NBM) plc has reaffirmed commitment to providing affordable credit to small and medium enterprises (SMEs) and facilitating their growth.
The bank says growth of the sector would enhance economic activities in the country.
NBM Head of Retail Banking Division Oswin Kasunda said the bank has put in place strategies aimed at capacitating SMEs.
He said this in Kasungu District on the sidelines of an interface the bank had with SME operators from the district.
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The meeting was aimed at strengthening the working relationship between the bank and businesses.
Kasunda observed that access to finance remains a hindrance to the growth of most SMEs in the country as they lack collateral.
“We consider SMEs as a very important segment of our customers because of the critical role they play in the economy. So, our coming here is meant to explore the opportunities that we can create so that our businesses can go forward.
“This is a business-to-business partnership and the objective is that they should grow their businesses while National Bank grows its business,” Kasunda said.
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One of the participants, Chifundo Mwafulirwa, hailed the bank for enlightening them on how they can revamp their businesses.
“We, as small and medium enterprises here in Kasungu, have learnt a lot, in terms of financial literacy, as well as opportunities that are there for us,” Mwafulirwa said.
The development comes after the Malawi Stock Exchange-listed company has just introduced credit facilities such as Amayi Angathe and Taoloka Finance.
