NBM Development Bank trains northern Malawi SMEs in management
By the AFREEQUE newsroom, based on Malawi Voice
Illustrative image · Wo Nfoni Media · Pexels · Licence PexelsNBM Development Bank is training SMEs in Malawi’s Northern Region in business management at a two-day workshop in Mzuzu. Acting Managing Director Esnat Kamudoni highlights their key role in employment and growth, and advises keeping rigorous accounts, according to Malawi Voice.
NBM Development Bank, a Malawian financial institution, presents small and medium-sized enterprises (SMEs) as a key driver of Malawi’s economic growth, owing to their role in creating jobs. Its Acting Managing Director, Esnat Kamudoni, spoke on Monday in Mzuzu at the opening of a two-day training workshop for SMEs in the Northern Region.
Ms Kamudoni stressed the importance of rigorous financial accounting, which she considers essential to the growth and sustainability of businesses. She said: “SMEs will gain practical knowledge that they will apply to better manage their business, make informed decisions and prepare for future growth.” Victoria Mwafulirwa, founder and managing director of Homes Industries Limited, a Karonga-based company, expressed optimism and noted that many SMEs lack the knowledge to manage their business.
The workshop brings together 11 SMEs. Similar training will be held in the Central and Southern regions of the country, according to the bank.
