FDH Financial Holdings Chief Executive Officer Williams Mpinganjira has said small and medium enterprises (SMEs) are crucial for the realisation of the country’s long-term vision, the Malawi 2063.
Mpinganjira was speaking when he made a presentation on Enterprise Development during 3rd CEO Summit 2023 held under the theme ‘Redeeming MW2063 Through Collaborative Business Leadership’.
Mpinganjira said a recent report by the World Bank indicated that Malawi had 1.6 million SMEs employing about 1.8 million people and contributing 40 percent of the GDP in Malawi.
“Without SMEs, this economy cannot grow,” Mpinganjira said.
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According to Mpinganjira, Malawi must strive to promote entrepreneurs rather than what he called tenderprenuers.
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He said unlike entrepreneurs who work hard and create employment, tenderprenuers normally just get tenders from the government through patronage and do not create any jobs.
He also appealed to entrepreneurs and startups to sacrifice something to let their businesses grow, rather than just getting everything on a silver platter.
At the summit, NBS Bank Chief Executive Officer Kwanele Ngwenya urged Malawians to work hard for their families.
According to Ngwenya, by not working hard, Malawians are denying their families a good life.
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Currently, Malawi has embarked on a journey to become an upper middle income economy by 2063.
