Money alone is not always enough to help a business succeed. Across Malawi, many small business owners are securing financing but still finding it difficult to grow, with weak financial management, poor planning and limited business skills standing in the way of expansion.
It is a challenge that NBM Development Bank is now attempting to address through a nationwide business and financial management training programme designed to equip entrepreneurs with the knowledge needed to build sustainable and competitive enterprises.
Speaking during a training session in Lilongwe, Acting General Manager Esnat Kamudoni said the initiative was introduced after the bank identified recurring weaknesses among businesses it had supported over the years.
Kamudoni said many entrepreneurs struggle to convert financial support into meaningful growth because they lack the skills required to manage resources effectively and make sound business decisions.
She said the bank believes practical business knowledge is just as important as access to financing.
“This is part of our offering as NBM Development Bank, so that when we provide the financing to SMEs, the businesses can do better, they can sustain themselves, and then they should be able to grow,” she said.
According to Kamudoni, the training programme seeks to strengthen business planning, financial management and strategic leadership among entrepreneurs, ensuring businesses are better positioned to overcome challenges and achieve long-term growth.
She added that improving management capacity among SME owners would increase the sustainability of businesses and maximise the impact of financial support provided by the institution.
Meanwhile, Smaac Settlements Trust Limited Chief Executive Officer Samuel Magombo described the programme as a valuable opportunity for entrepreneurs to sharpen their business skills and improve decision-making.
Magombo said continuous learning and mentorship help business owners identify priorities, adapt to changing market conditions and navigate economic uncertainty.
“Sometimes capital may be available, but people tend to misappropriate their capital unintentionally because of lack of knowledge. So this training brings all of us to a common grounding as to how to operate a small business,” he said.
He noted that equipping entrepreneurs with sound financial and managerial skills could help businesses avoid costly mistakes, improve performance and create opportunities for expansion.
The Lilongwe training attracted at least 20 entrepreneurs from different sectors and followed a similar programme in Mzuzu, where around 15 business owners benefited.
NBM Development Bank, which became an independent subsidiary of National Bank of Malawi about five years ago, has supported 100 SMEs and built a financing portfolio worth more than K24 billion.
