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NBM Challenges Women Entrepreneurs on Growth

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NBM Challenges Women Entrepreneurs on Growth

National Bank of Malawi (NBM) plc has urged women entrepreneurs to pay attention to detail and be systematic in their quest to remain competitive and grow their businesses on the market.

NBM head of personal and business banking division Oswin Kasunda made the call on Friday at a training that the bank organized for women entrepreneurs.

This is one of the events that the bank has been holding to empower women in business.

Participants lamented difficulties to access finances, lack of stable and structured markets and prohibitive and tedious requirements access banking facilities.

They also singled out low knowledge on banking products and services as constraints

Kasunda said women entrepreneurs have capacity to contribute significantly to the growth of the economy through their businesses.

‘’ Women find it difficult to access even simple loans and we would help access such facilities as long as they meet proper business requirements. Women empowerment is the way to go. Kasunda said

One of the women entrepreneurs, who delivered a key note address, Cecilia Rice, urged her counterparts to remain vigilant in growing their businesses.

Rice, who is in food processing industry, said she started her business with an initial capital of K65,000 in 2012 and her business has significantly grown with her monthly turn over heating K30 million

“It does not take too much money to roll a business, it takes an idea and the idea would be the driving force.” Rice said