ICT sector gaps bother experts
The ICT Association of Malawi (Ictam) has said there is still much that Information and Communication Technology (ICT) players can do to build technology start-ups and initiatives to benefit the country.
Ictam Vice President Andrew Kasasi said this in an interview on Thursday.
This comes at a time an American technology company Google on Wednesday announced plans to invest $1 billion in Africa over the next five years.
Malawi was, however, not among the list of countries set to receive the financial assistance.
Kasasi said there were glaring challenges the country needed to rectify if it were to attract foreign direct investment.
“A lot of innovative ideals lack financial support as we don’t have development banks. There is always a challenge to empower individuals who want to come up with their start-ups,” Kasasi said.
He said waiting for external investors only to build the sector remained a gamble and the development would affect growth prospects.
Google announced it would additionally disburse $10 million in low-interest loans to small businesses in Nigeria, Ghana, Kenya and South Africa, to alleviate hardships brought about by the Covid pandemic.