Use financial services to expand business, entrepreneurs told

Use financial services to expand business, entrepreneurs told

Mwanza Regional Commissioner, Eng Robert Gabriel has urged small and large scale entrepreneurs in the region to make use of financial services to boost and expand their businesses.

Eng Gabriel was speaking during a dinner hosted by NBC Bank for the city's small and large customers over the weekend where he joined the bank to train large and small businesses in the region aimed at equipping them with skills on how to grow their businesses for their development and the nation as a whole.

“The basic thing to do is to make sure that in everything you think about your business, make sure you think about doing it more broadly.

If it is a shop business, then make sure you open a large store with good and modern services so that you can attract and serve as many customers as possible to grow your capital but also attract financial institutions to be persuaded to continue supporting you, '' he said.

The event aimed at discussing business opportunities and introducing new banking services offered by the lender through its Business Club known as NBC Business Club.

For his part, the bank’s Head of SMEs Unit, Mr Mussa Mwinyidaho said they were committed to improving services so that its customers could continue to enjoy simplified services to suit their business needs so that they could grow their businesses.

“Through NBC Business Club, we have a comprehensive strategy to uplift SMEs and large businesses by sharpening their business capacity through training and seminars, networking as well as helping them formalize their businesses so that they can be trusted by financial institutions when they need loans.

This initiative has been productive not only for our customers but also for us as a bank, where we have been able to get feedback that has enabled us to improve our services for them, '' he said.

He said through the club, the bank has been able to introduce new products for SMEs, including the 'Commercial Property Financing' service that enables commercial building owners to be issued with low interest loans and the 'Commercial Asset Financing' service which enables the SMEs to get loans for machinery business and contracting activities.

"Also through today's event, our customers in Mwanza region will have the opportunity to be more aware of our unsecured loan products, an exciting product for SMEs as part of the bank’s strategy to support them to grow and support the country’s industrialisation agenda.

The loans, which are issued based on the creditworthiness of a borrower, cover distributors and suppliers of large companies,” he said.

Author: DAILY NEWS Reporter in Mwanza

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