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Entrepreneur forecasts stable currency, reduced rates

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One of the country’s successful entrepreneurs, Jimmy Koreia Mpatsa, has forecasted a stable economy this year.

Mpatsa said Malawi being an agriculture-based economy, has seen a good farming year this time around as compared to the past three years.

He said the good rainfall pattern will help steer the economy into the right direction.

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“We expect that the growth rate this year will be better than the past years. Therefore, we can also expect lower interest rates, Growth Domestic Product (GDP) growth and a stable currency,” he said, adding that the three factors are fundamental to business growth.

Mpatsa further said budding entrepreneurs should strive to find opportunities in every environment.

He said even though the current environment is tough for business, entrepreneurs, especially young ones, should try to find a niche in the market.

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“The environment will always be challenging and there will be times when it will be more positive than other times, but what is important is how one finds a niche in the market.

“What you need to know is that for every problem, there is an opportunity. Let us not only look at the negative side but also the positive side of an environment,” Mpatsa said.

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