NBS BANK TO TRAIN MORE ENTREPRENUERS

NBS Bank will conduct entrepreneur trainings in three regions of the country starting from July 25 2008 to empower small and medium entrepreneurs.

The bank's Business Development Manager Mayamiko Kalizango'ma said this in an interview on Thursday adding that the exercise is part of the credit facility the institution got from IFC to boost small scale businesses.

He said the exercise would be conducted with the assistance of consultants from the International Finance Corporation (IFC)—an arm of the World Bank in Lilongwe, Mzuzu and Blantyre.

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.

Kalizang'oma said currently over 160 SME's have benefitted from the programme with around K75 million loans disbursed.

"It is part of our corporate social responsibility to ensure that these entrepreneurs have enough financial skills to grow their businesses so that they pay back and access more from us, as such these training are free," said Kalizango'ma.

He added that participants would be given lectures on how to develop business plans, analyse common business mistakes, marketing and time management.

"Participants to these workshops will be trained on how to maintain a productive workforce as they would also be empowered to employ others in facilitating their growth," said Kalizango'ma.

Varied businesses ranging from shops, transportation to the hospitality industry have been roped in by NBS Bank to be given loans and entrepreneurial skills, the technocrat said.

by Henry Mchazime

<< Back