Malawi Stock Exchange listed NBS Bank on Thursday organized a clinic for the Small and Medium Enterprise (SME) sector to transfer knowledge to each other and enable small businesses to participate in economic development successfully.
NBS Bank Deputy Chief Executive Officer Temwani Simwaka said such clinics enable the Bank to understand the SMEs better and service them to their needs.
“As NBS Bank we believe that the future of the country is dependent on the businesses coming through from the SMEs because for us to strengthen the industry base we need a lot more, and also these are the people who will be able to save us forex by producing products locally but at the same time create jobs that the country so much needs.”
“So, as NBS Bank, we believe in partnering with SMEs for them to grow their businesses but at the same time we also believe in creating a platform for the SMEs to network,” said Simwaka.
One of the speakers, Chief Executive Officer of Maestros Designs Charles Lipenga said a lot of Malawians need access to loans but need some guidance and therefore making such clinics is important.
“This is something that Malawi needs especially with access to finance being a big challenge. NBS Bank is offering us a brilliant thing for the country and individuals. We rely on a lot of Malawians with small and medium enterprises which need access to loans but the challenge is that they need some guidance that’s why these clinics are important,” said Lipenga.
One of the participants, Honest Chirwa of Royal Medical Centre and Kateya Farms Limited in Rumphi, thanked NBS Bank for the initiative which he said gives room for entrepreneurs to learn from each other.
“In life not only in business, we learn from each other or somebody’s experience may teach you lessons whether it is failure or success. I believe that failure is part of success as long as you keep on moving,” said Chirwa.
Last year, NBS Bank Plc relaunched its SME offerings to cater for individuals who run small and medium businesses.