NBS Bank and World Bank Advise SMEs on Bank Loans

NBS Bank and International Finance Corporation (IFC), an investment arm of the World Bank Group, has advised Small and Medium Entrepreneurs (SMEs) in the country to work together to easily access bank loans to boost their businesses.

The training was jointly organized by NBS Bank and IFC to equip the bank’s clients with business skills to make good use of loans.

NBS Bank Head of Retail and Personal Banking, Stanley Mkwamba said the bank’s mission is to work with SMEs to build a vibrant society.

“Let’s work together. Let’s grow together,” Mkwamba advised the entrepreneurs and called on them to support one another by buying from each other.

He said the bank was training the SMEs to equip them with skills to enable them to run and manage their businesses better.

IFC Business Development Officer for SMEs, Cuthbert Tembedza advised the SMEs to network and work together or form an association because the voice of a group is more powerful.

He said IFC wants to see local SMEs registering significant growth, saying that was why the organization joined hands with NBS Bank to organize the workshop to give entrepreneurs a chance to meet the bank’s officials.

Tembedza said NBS Bank has demonstrated its commitment to helping small businesses to grow and let the people walk away from poverty.

About 30 entrepreneurs attended the training which was facilitated by the Pinnacle Business Link Limited of Accra, Ghana.

One of the participants, Luke Kasamba of Cross Marketing described the training as an eye- opener, saying it has equipped him with the necessary skills to handle customers and stir the business to sustainable growth.

“I have learnt a lot and now I know how to market my business and make it more popular in town,” said another participant,  Kettie Kamwangala who owns a furniture shop called Exploration, in Lilongwe.

Similar workshops will be conducted in Mzuzu and Blantyre this week and next week respectively.

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