MZUZU-(MaraviPost)-National Bank of Malawi (NBM) plc reaffirmed its commitment to supporting Micro, Small and Medium Enterprises (MSMEs) by hosting the NBM SME Day Exhibition at Springs Park in Mzuzu, bringing together entrepreneurs, customers and the public to celebrate innovation, entrepreneurship and business growth.
Held in commemoration of World MSME Day, the exhibition featured 50 SMEs drawn from across Northern Malawi, providing them with a platform to showcase their products and services, engage potential customers and network with fellow entrepreneurs.
The exhibitors represented a diverse range of sectors, including agriculture and agro-processing, manufacturing, fashion and textiles, food and beverage, technology and innovation, services and retail, and the creative industries.
Speaking during the event on Saturday, NBM plc Chief Executive Officer Harold Jiya described SMEs as the backbone of economic development, noting that they account for nearly 70% of employment in developing economies.
“Today, as we commemorate World SME Day, we recognise that SMEs are a very important component of economic growth. They create jobs, stimulate innovation and contribute significantly to national development. That is why we have brought SMEs together to showcase what they do and remind everyone of their importance to the economy,” said Jiya.
He said the bank has strengthened its support to SMEs through NBM Development Bank, which provides start-up financing, business mentorship, coaching, guarantees and specialised loan packages tailored to different sectors.
“Our goal is to simplify access to finance for SMEs. We have developed sector-specific financing solutions. Currently, our SME lending portfolio stands at about K175 billion, and we remain committed to growing it further,” he said.
Jiya expressed satisfaction with the progress being made by SMEs, noting that many of the exhibitors were National Bank customers who were successfully producing, creating jobs and growing their businesses.
One of the exhibitors, CapeStars General Manager Darlington Ndasauka, commended NBM plc for its continued support of small businesses, saying the partnership has helped the company expand despite the country’s challenging economic environment.
“As MSMEs, we are operating in a difficult economy, but we continue to innovate and become more creative to sustain our businesses. Malawians have continued supporting local enterprises, and that has enabled us to keep going. While growth may not be as fast as we would like, we remain optimistic,” said Ndasauka.
He said NBM plc has become more than just a financial institution to CapeStars.
“National Bank is our main banking partner. We have benefited from financing as well as valuable business advice. We are currently working on expanding our production capacity, and the bank is supporting us through this journey. We believe this partnership will help us grow even bigger,” said Ndasauka.
Beyond business, the exhibition offered a vibrant family entertainment experience as thousands of patrons enjoyed live performances from some of Malawi’s top artists Eli Njuchi and Saint Realest.
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