NBS TO FINANCE POTENTIAL BUSINESSES – Malawi News Online

In a partnership with the National Small and Medium Enterprises (Nasme), NBS Bank will provide financial support to small and medium enterprises (SMEs).

The development follows after an SME Expo in April, which saw SMEs expressing worry over lack of support from government and individuals towards the growth of their enterprises. “Though the Buy Malawi Strategy promotes consumption of local products, both the government and individual Malawians prefer imported goods.” said one of the small scale traders.  

NBS Bank plc chief commercial officer Phillip Madinga said that the bank has always supported SMEs, especially  those in the agriculture sector. “We recognise our role as an enabler to access to financial services, which is key to the promotion and growth opportunities such as industrialisation, social welfare, entrepreneurship and diversification of agriculture,” said Madinga.

In the partnership, Nasme will identify viable SMEs and recommend them to the Malawi Stock Exchange-listed bank for financing. NBS Bank will in turn be assessing the applications to provide financing.