NBS Bank beckons more SME’s to its loan facility
22 August 2008

NBS Bank is asking more small and medium entrepreneurs (SMEs) to participate in its joint loan facility with the International Finance Corporation (IFC).

Deputy Chief Executive Officer Gilford Kadzakumanja said this on Wednesday after the official closing ceremony of a three-day Finance Access training for women entrepreneurs in Blantyre.

Kadzakumanja said the bank has disbursed about K90 million to SME’s in the country at the end of July and that there was more money available for the small merchants.

“This means we still have K420 million in the loan facility ready for SME’s to access. We are focussed at training women on how to access finance so that we grow their businesses as well,” said Kadzakumanja.

In his address to the participants Kadjakumanja said NBS Bank would share its growth success with the public.

The bank announced a pre-tax half year profit of 252 percent above last year figures.

“We are grateful to IFC for giving us the key to success and we will share that by growing the local SME’s to corporate entities,” said Kadjakumanja.

He said the bank would ensure that all participants to the training are provided with loans.

“Our SME departments are now fully operational and we would like boost women capabilities in doing business because they lacked confidence and skills to approach financial institutions for funding,” said Kadjakumanja.


IFC’s training consultant Benson Momanyi advised the participants to use different strategies when conducting their businesses to easily explore market opportunities.

Representative of the participants Sabina Mlusu expressed gratitude to the bank for coming up with a simplified financial course which was conducted using individual businesses as case studies.

The course attracted participants from involved in varied businesses ranging from agriculture, shops, transportation and the hospitality industry.

BY HENRY MCHAZIME (The Daily Times Newspaper)

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