Malawi Stock Exchange-listed NBS Bank has embarked on a drive called SME Clinic where it is imparting knowledge to both budding and established Small and Medium Enterprises (SMEs) on technical and financial solutions.
The financial institution re-launch its SME offering which aims at uplifting players in the sector which is believed to have potential to contribute substantially to development and growth of the economy.
Speaking at the clinic in Blantyre, NBS Bank Head of SME and Agribusiness Mdauko Ngulube said the SMEs sector is critical, hence, the drive to facilitate its growth.
“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 avails,” Ngulube said.
He said the bank has services and products targeting SMEs for easy access to finance.
Ngulube said NBS Bank offers bid bonds or tender guarantees of up to K200 million without requiring collateral, among other things.
“The bid bonds facility enables SMEs to bid for contracts and projects through competitive tendering,” Ngulube said.
The SMEs clinics were held in the three cities of Blantyre, Lilongwe and Mzuzu, where participants and speakers shared information on various topics.
One of the Lilongwe SME clinic participants, Annie Kachepa, who is Managing Director of Langa Investments, hailed the bank for assisting their business on its growth trajectory.
“I wish to encourage fellow entrepreneurs on the importance of engaging NBS Bank when it comes to the development of their businesses because the bank really helps and I am one of the witnesses,” Kachepa said.
Justin Mkweu is a fast growing reporter who currently works with Times Group on the business desk.
He is however flexible as he also writes about current affairs and national issues.