NBS Launches Fund to Boost SME sector

CLOUDINE MATOLA

 

National Building Society (NBS), a state-owned financial services provider, has launched a dedicated fund to support and promote the growth of informal and Small and Medium Enterprises (SMEs), Business Times can report.

 

NBS Managing Director, Sifiso Mahlangu, speaking at the fund’s launch in the capital, Harare, on Friday, emphasized that the institution aims to finance projects, particularly those from marginalized areas, to help expand local businesses.

 

“We gather here today (Friday) with a shared commitment to empower small and medium enterprises (SMEs) as we unveil this fund, which is designed to support their growth,” Mahlangu said.

 

“Our mission with the SME Fund is clear: we seek to promote financial inclusion, stimulate the growth of informal businesses and SMEs, and help them transition into larger corporations. We are committed to providing accessible funding solutions to a broad range of businesses, with a focus on underserved communities,” he added.

 

NBS Head of Marketing, Mildret Kujinga, also highlighted that the bank’s support will extend beyond financial assistance. In addition to funding, the bank will provide advisory services, investment opportunities, and financial education.

 

“For us at NBS, fostering growth is at the core of what we do. The informal sector plays a significant role in our economy, and the days of entrepreneurs working in isolation, without access to financial services, are over. We are here to address the key barriers to economic empowerment, inclusive growth, and financial inclusion,” Kujinga explained.

 

She further stated, “We are not just offering financial services. We will also provide advisory services, investment opportunities, and mentorship to help businesses scale. Our goal is to build a generational legacy of empowered communities. With this fund, we aim to go far beyond simply offering loans or financial resources. We are creating an SME value chain ecosystem that includes access to customers, financial education, and guidance on managing investment risks.”

 

Kujinga also noted that as NBS continues on its growth trajectory, it is committed to bringing SMEs along with them. While acknowledging that there may be challenges related to digital accessibility, she encouraged underserved SMEs to utilize the bank’s network of agencies and branches across the country.

 

“We are actively working to ensure that SMEs, particularly those with limited access to digital platforms, are included. We urge them to engage with our branches and agencies nationwide to benefit from this initiative,” she said.

 

 

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