NBM Development Bank commits to supporting SME growth beyond financing

NBM Development Bank Limited (NBMDBL) has reaffirmed its commitment to supporting small and medium enterprises (SMEs) beyond providing financing, by equipping them with knowledge and skills needed to grow, improve performance and achieve long-term sustainability.

NBMDBL Acting General Manager, Esnat Kamudoni, said business support services remain a critical part of its offering as it seeks to help businesses overcome operational challenges and strengthen their management practices.

She was speaking in Mzuzu after concluding a two-day business training workshop for 11 SMEs drawn from across the Northern Region where she encouraged participating businesses to translate the knowledge gained into practical improvements that could make a difference in their day-to-day operations.

“We have encouraged each of the participants to identify at least three things that they have learnt and commit to implementing them. They do not have to be major changes. Sometimes, small improvements in how they plan, manage their finances and make decisions can have a significant impact on business performance,” said Kamudoni.

One of the participants, Daniel Munkhondia of Tavwane Farms, said the training had broadened his understanding of business management and the opportunities available through banking services.

“Sometimes, without proper knowledge, we make wrong conclusions about services offered by banks, including loans and financing support. This training has opened our eyes to what we need to have to grow our businesses and unlock opportunities. Things that we take for granted, such as record-keeping and having proper business plans, are actually very important,” said Munkhondia.

The training covered strategic planning, record-keeping, corporate governance, budgeting and financial management.