Home / Business / ‘Take advantage of advisory, financial services’

‘Take advantage of advisory, financial services’

Bulawayo Bureau
NMB Bank has urged small to medium sized businesses to take advantage of the advisory and financial services its Small to Medium Enterprises (SME) banking unit offers them to help grow their enterprises.

NMB SME Banking Unit head, Mr Erasmus Bhunu, has said the unit, which is situated at the bank’s Plymouth Road branch in Southerton, Harare, offers advice and promotes partnerships and value chain activities, in addition to offering banking and financing facilities.

“The NMB vision is to go beyond banking. We want to support the development and growth of SMEs,” Mr Bhunu said.

He said the unit was able to link up SMEs with some of the bank’s large corporate customers that might benefit from their services and to facilitate off-t0ake arrangements.

It has a dedicated women’s desk where women business owners or managers can seek financial advice and support.

The unit has conducted SME clinics in a number of centres, at which the bank, an accounting firm and representatives of an SME association have offered information and advice on banking and financing products, keeping of financial records and how to succeed in business.

Mr Bhunu said NMB Bank offers a wide range of solutions that promote the development of SMEs.

These include financing working capital, assets and capital expenditure, as well as investment options.

Financing possibilities include loans, overdrafts, invoice discounting, leasing, order finance, contract farming, toll manufacturing, guarantees and bonds.

“Order finance schemes are backed by promissory notes or letters of undertaking from corporate off-takers of an SME’s products,” he said.

“We discuss with our SME clients what services would best meet their needs or financing requirements.

Where an SME is unable to meet the bank’s financing requirements, advice is offered on alternative means of financing.”

The bank also helps informal SMEs with advice on how to formalise their operations and point out to them the benefits of doing so.

Mr Bhunu said SMEs need a strong relationship with a bank that offers more than just money.

“We see ourselves as a partner with our SME clients in their growth,” he said, adding that his bank was keen to help create market and value chain opportunities for SMEs.

“At NMB we encourage SMEs to network with each other so that they share ideas as well as form groups and build muscle to compete with larger corporates,” said Mr Bhunu.

 

Source : The Herald

Check Also

Zim inflation rises to 4,29 percent

Tawanda Musarurwa Senior Business Reporter Zimbabwe’s annual inflation rate rose 1,38 percent to 4,29 percent …

Leave a Reply

Your email address will not be published. Required fields are marked *