National Bank commits K60bn to boost SMEs

Malawi’s Economy Gets a K60bn Lifeline: National Bank’s SME Growth Plan

Post was last updated: June 8, 2025

Key Business Points

  • The National Bank of Malawi (NBM) plc has set aside K60 billion to support small and medium enterprises (SMEs) in Malawi.
  • The bank’s efforts focus on funding and financing businesses to accelerate national development and contribute to the country’s 40% GDP from the SME sector.
  • SMEs like Ziweto Enterprise are benefiting from NBM’s financial support, enabling them to expand and create employment opportunities nationwide.

The National Bank of Malawi (NBM) plc has announced a significant investment in the country’s small and medium enterprises (SMEs). K60 billion has been set aside to support these businesses, which are a vital driver of Malawi’s socio-economic development. The bank’s CEO, Harold Jiya, recently visited various small-scale businesses in Lilongwe as part of NBM’s efforts to engage with and appreciate the contributions of these enterprises.

One of the businesses visited was Ziweto Enterprise, a firm that produces animal feed and has received a K240 million loan from NBM Development Bank to procure a milling machine. The CEO of Ziweto Enterprises, Victor Mhango, thanked NBM for the financial support, highlighting the impact it has had on the company’s growth. From just seven shops, Ziweto Enterprise has expanded to 21 shops and now employs 51 people nationwide.

The visit was part of NBM’s ongoing efforts to strengthen support for the SME sector, which contributes significantly to Malawi’s economy. In commemoration of SME Day on June 27, NBM has rolled out a special initiative to visit and engage with small businesses across the country. This move is expected to further boost the SME sector, which is crucial for Chakumanga (growth) and development in Malawi.

As Malawi’s business community continues to navigate the challenges of economic growth and development, initiatives like NBM’s are vital for unlocking investment opportunities and promoting local entrepreneurship. By supporting SMEs, the bank is helping to create a more sustainable and equitable economy that benefits all Malawians. With its commitment to funding and financing businesses, NBM is playing a critical role in driving Ufupi wa Maendeleo (sustainable development) in Malawi.

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Vanessa Banda
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