Some 20 budding entrepreneurs from Mulanje District have received K4.250 million each as seed capital under the Business Acceleration for the Youth Programme by the International Centre for Tropical Agriculture (CIAT).
The entrepreneurs underwent an incubation programme facilitated by the Small and Medium Enterprises Development Institute (SMEDI) in Mulanje.
CIAT’s Business Incubation and Acceleration Officer, Oganive Chingakule, said the initiative, supported by USaid, targets young individuals aged between 18 and 35, expanding its reach to encompass nine districts nationwide.
Chingakule emphasised that the objective is to empower capable youths to spearhead businesses that ignite favourable change at the local level.
“The infusion of financial assistance is geared towards equipping them to proficiently oversee their ventures, thereby fostering entrepreneurship, advancement and economic metamorphosis within their communities, ultimately propelling positive societal shifts.
- Advertisement -
“The selection procedure involved aspiring entrepreneurs presenting their business proposals and elucidating how their endeavors would benefit their communities,” Chingakule said.
Among the beneficiaries is Florence Matama, a tailor from Suman Village, TA Juma, who aims to disseminate knowledge to fellow youths, empowering them to sustainably support themselves and their families.
“This is a crucial step towards enhancing my services and contributing to societal advancement,” Matama said.
Vanessa Zalimba, proprietor of Noey’s Enterprise, a poultry venture, revealed plans to utilise the funds to broaden her business and create employment opportunities for other youths.
- Advertisement -
- Advertisement -
In a joint effort between Alliance of Biodiversity International and CIAT, the initiative has spurred innovation among the youth, laying a foundation for economic expansion and the well-being of Mulanje residents.
The initiative extends beyond Mulanje to encompass eight other disaster-prone districts, including Mangochi, Machinga, Chiradzulu, Balaka, Zomba, Chikwawa, Nsanje and Thyolo.
