STATE-OWNED mortgage lender National Building Society (NBS) has set aside US$1 million to uplift small and medium enterprises (SMEs).
Addressing delegates at the launch of the SME Fund in Harare recently, NBS managing director Sifiso Mahlangu said the building society faced funding challenges to incorporate the SMEs. This, he said, forced NBS to approach their major shareholder, the National Social Security Authority (NSSA), for funding.
“I can tell you that before the end of the middle of next year, we will probably be looking at the funds going to somewhere like US$2 million to US$3 million…”