NBS BANK EMPOWERS WOMEN ECONOMICALLY

NBS Bank has committed itself to be the front runner in giving skills and resources to women entrepreneurs in the country to empower them economically.

Deputy Chief Executive Officer Gilford Kadzakumanja said this Wednesday during the closing ceremony of a training programme it organised with International Finance Corporation (IFC)— an arm of the World Bank.

The programme is being run under an NBS Bank and IFC initiative where they established a US$ 3 million (about K450 million) credit line facility to provide loans to Small and Medium Enterprises (SME's) in the country.

Kadzakumanja said the training attracted 25 women entrepreneurs who were gt&dmcd on how to access finance through consultants hired by IFC.

"The Skills delivered Under this programme will enable the women to, among others, increase their productions or stocks including their market share and also improve their ability to access fund for running businesses," said Kadzakumanja.

He added the bank has planned to conduct training programs for different groups of women which would be conducted in Mzuzu, Lilongwe and Blantyre.

"We intend to continue interacting with these ladies through monthly focus group meetings in which we facilitate discussions on issues and trends that are shaping women's business initiatives.

But we also intend to take the program to Lilongwe and ultimately to Mzuzu before the year closes," said Kadzakumanja.

Representative of the entrepreneurs, Molly Phiri said the new financial skills would greatly assist them as they strive to do their businesses effectively.

"Through NBS Bank we are financially literate and we will apply the ability imparted on us to access funds so that we expand and even diversify our businesses," said Phiri.

The participants are involved in varied businesses ranging from shops, transportation to the hospitality industry.

By Henry Mchazime

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