Millions up for grabs

One entrepreneur is this week expected to walk away with K20 million start-up capital in the final of an entrepreneurial challenge organised by mHub.

mHub is the first technological hub to be established in the country and is considered an incubator for Malawian technological start-ups.

Rachel Sibande, the brains behind mHub, said the competition was established to provide access to finance and training on business management for entrepreneurs and is being funded by Standard Bank, National Bank of Malawi and European Investment Bank.

“Over 62 entrepreneurs applied with business ideas, 20 were shortlisted and trained on business development for a week. They were also trained on pitching their business ideas,” Sibande said.

At the final to be held on Thursday this week at Crossroads Hotel Auditorium, five entrepreneurs are expected to battle it out with one emerging as winner of the grand prize.

Access to capital is one of the major constraints to the success of Small and Medium Entrepreneurs in the country.