BLANTYRE--Pres Joyce Banda on Tuesday said Small and Medium Enterprises (SMEs) are critical to the development of Malawi’s economic sector.
Speaking during the official opening of the National Bank Business Centre and Offices in Blantyre, the president said the banking sector in the industry should consider supporting SMEs in order to boost the country’s economy.
There was need for the banking sector and government to collaborate in encouraging entrepreneurship.
“Let me commend National Bank of Malawi for this world class standard building. This is a very good indicator for the banking sector. The building has transformed our city which is now looking beautiful. I hope the standards set by this building will be maintained.
“This building has also provided innovation in the banking sector as it is also disability friendly. My government, through the Reserve Bank of Malawi (RBM) has made some reforms in order to improve the financial sector,” said President Banda.
She said RBM had introduced financial inclusion which encourages banks to get to unreachable areas in the country.
During the function NBM donated MK10 million to Joyce Banda’s safe motherhood programme.
NBM Board Chairman, Matthews Chikaonda, said the donation was meant to assist in the implementation of safe motherhood projects which the president said would be used to complete construction of a health centre at Traditional Authority Kwataine in Ntcheu district.
Chikaonda also called for a working relationship between government and the private sector to to improve the economy.
“Our country is not as poor as others suggest. People in the country are to blame because we are failing to use our knowledge,” said Chikaonda.
---©2012 The Maravi Post. Reproduction authorised, with usual acknowledgment.