By Rebecca Chimjeka:
MHub and Growth-Africa have set an ambitious target of creating over 5,000 job opportunities for the youth in the country and empowering budding entrepreneurs through the Growth Accelerator- Malawi Project.
The project is aimed at supporting innovative entrepreneurs with financial and technical assistance in a bid to scale up their ventures.
Speaking during launch of the Growth Accelerator entrepreneurship challenge 2019 cohort in Lilongwe, Mhub Chief Executive Officer, Rachel Sibande, said the project would help the country achieve sustainable development goals 1, 8 and 9.
Sibande said, since its establishment in 2018, the project has seen over 11 entrepreneurs in food production, pharmaceuticals, organic fertiliser production among others growing their businesses.
She said the 2018 cohort was expected to create over 5,000 jobs along the value chain among the youth and women.
“With support from the Growth Accelerator entrepreneurship challenge, the businesses have increased revenue, increased products and services. In the long run, it would create 5,000 jobs,” Sibande said.
Through the initiative, entrepreneurs have received hands-on technical assistance to help them understand their business model and are able to develop realistic growth strategies.
One of the entrepreneurs in the 2018 cohort, Joyce Banda, said she had increased production base of her soap making business; hence, also requiring additional labour force.
“We provide locally produced soaps and detergents made with Malawi grown herbs, we recruit farmers to grow priority crops and herbs and we purchase harvested crops at agreed prices especially from women; hence empowering them economically,” Banda said.
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