23/05/2025
National Bank of Malawi (NBM) has launched the Agribusiness Working Capital Finance to help close funding gaps for Small and Medium Enterprises (SMEs) in the country.
According to NBM Head of Retail Banking, Oswin Kasunda, while there is financing available for traders, production, and machinery, many businesses still struggle to access working capital for trading activities.
Kasunda said these funding gaps make it difficult for traders to buy crops from farmers, sell them, and invest in value addition adding that value addition also needs working capital for buying materials, which is why the bank decided to introduce this product.
Lyton Femas Newa, Manager for Umoza Coffee, welcomed the new product, saying it is a timely boost for SMEs, who often face financial challenges.
Newa said the product will also help improve coordination in areas like supply chains and contract access, allowing businesses to grow.
(by Towera Katswiri-Mzuzu:05/23/25)
