A recent poll undertaken by the National Building Society/NBS revealed that inadequate access to finance for Small and Medium Enterprises/SMEs remains a barrier to their growth. Against this background, NBS has taken the initiative to assist by unlocking financing with the introduction of an Invoice Discounting facility, tailored to SME requirements.
Speaking about the benefits of NBS’ partnership and financing offerings for SMEs, including Invoice Discounting, Mr. Tapiwanashe Shoko, Chief Executive Officer of Unlimited Procurement, the manufacturers of the Dratel brand in the Zimbabwean market said,
“With NBS as the banking partner for our business, financial systems and cashflows have stabilised. The relationship has helped to catapult our operations and steady our connection with stakeholders, especially suppliers and employees. Through the growth we have achieved, we see ourselves exploiting the export market and helping the economy in raising our foreign currency earnings.”
The NBS Invoice Discounting facility has been well received in the market. It was designed to enable SMEs to access cash from unpaid customer invoices, providing a flexible way to fund business operations. Thus, as soon as an invoice is raised, funds are released in line with the amount of business. This key benefit is pivotal to why SMEs are choosing NBS Invoice Discounting.
The NBS mandate to establish empowered communities was behind the decision to offer Invoice Discounting to SMEs in Zimbabwe. Speaking more around this, the NBS Head of Marketing, Miss Mildret Kujinga, explained,
“NBS seeks to confront and address the financial challenges faced by SMEs in their day to day running of business. We have done our research as a Society and today we have a suite that offers disruptive financial solutions that will help SMEs grow. Invoice Discounting is part of our product offering and it that takes care of the SMEs key business pillars, such as improving their liquidity position and providing financial literacy. We have taken it upon ourselves to provide SMEs a home that will incubate their projects into becoming market leaders of this economy and beyond.”
To gain the benefits of NBS Invoice Discounting amongst an array of other advantages, Miss Kujinga offered some advice to SMEs in the country, and her sentiments were echoed by Dratel’s Mr. Shoko. “Choose NBS and be part of the beautiful story. We are a reliable Building Society and a solid banking partner. Thus, we extend an invitation to SMEs to Switch to NBS.”