Trade and Industry minister, Vitumbiko Mumba has commended National Bank of Malawi (NBM) plc over its commitment towards supporting the growth of Small and Medium Entreprises (SMEs) in the country.
Mumba made the remarks after making a surprise visit at Gateway Mall in Lilongwe, where NBM plc organised an SME Day exhibition involving over 50 SMEs from across the country on Saturday.
He described the gesture as a catalyst for economic transformation as the world was commemorating the Micro Small Medium Enterprise (MSME) Day.
“Commercial banks have a vital role to play in advancing national economic development by directly supporting the SME sector, which is Malawi’s economic future.
“When I read in the papers that NBM plc has set aside K60 billion to support the SMEs in the country.
“I personally called the CEO to thank him because this is the kind of support we need,” he said.
She said the event was part of a broader month-long celebration by the Bank in recognition of MSMEs and their role in national development, in line with the AU Agenda 2063.
NBM’s Marketing and Corporate Affairs Manager, Akossa Hiwa said the Bank organized the MSME Day event to provide a platform to the SMEs to network, showcase their products, and explore new market opportunities.
“In May this year, we also supported about 30 SMEs to participate at the Trade Fair where they also showcased their products,” she said.
Mark Chiweza Banda from Apoche Farms which rears fish, also commended NBM plc for the gesture.
“We produce a lot products, but we don’t have a platform to reach out to potential buyers, but such events provide us that needed platform. We thank NBM plc,” he said.
Apart from the exhibition, the event has other activities for children, while top artists like Teddy Makadi and Mazani entertained fans with their music performances.
“Commercial banks have a vital role to play in advancing national economic development.”
Vitumbiko Mumba
Malawi’s Trade and Industry Minister
