Govt, private sector urged to give SMEs more support

By The guardian reporter

Mark Wiessing, Chief Executive Officer of National Microfinance Bank (NMB)

The government and private sector have been challenged to increase their support to the Small and Medium Enterprises (SMEs) as one of the ways of fastening social and economic growth in the country.


This was said recently in Dar es Salaam by Chief Executive Officer of National Microfinance Bank (NMB), Mark Wiessing when speaking to corporate customers and launching new initiatives to support them.

He said the bank recognises the role played by SMEs and has been in the forefront in providing support towards the sector.

“Our SME activities are extremely important, not just to NMB but to the economy as a whole which depends on their success,” he said.

He said they are proud that in the course of just a few years they have been able to grow the business successfully from zero to where they can consistently support some 60,000 SMEs, countrywide, representing 25 percent of the bank’s overall business.

According to him, they have supported the MSME business through the creation of business centres which are dedicated branches only for SMEs. Such centres are in Kariakoo, Arusha and Mwanza. Similar centres will be created soon in Sinza, Moshi, Mbeya and Morogoro towns.

He added that they support MSME by way of business clubs, where they offer basic training, capacity building, and networking opportunities.
The bank trains about 5,000 customers a year, and at the moment it has 32 clubs covering all regions, he said.

He said they are fully committed to MSME business, and that time has come for stronger interaction between NMB and its largest SME customers, for an interactive debate on topics like taxation, capital raising and trade finance. 

SOURCE: THE GUARDIAN