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MITC dares local firms

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Malawi Investment and Trade Centre (MITC) has challenged the private sector to learn from their counterparts from neighboring Zambia on accessing finance for growing business.

This follows an invitation for local firms to participate in that country’s business indaba and expo slated for May 27 and 28, 2022 in Lusaka.

In a statement, MITC Chief Executive Officer Paul Kwengwere said local businesses could also use the time in Zambia to explore business opportunities.

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“This forum is a perfect opportunity for our business people to interact and network with their counterparts in Zambia. There are a lot of business opportunities that Malawi can take advantage of in Zambia, especially supply of various goods.

“It is also pleasing to note that the indaba is focusing on how businesses can access finance and markets, which is critical to our private sector players,” Kwengwere says in the statement.

He encouraged the business community to attend the meeting to gain knowledge on available market opportunities in Lusaka, which also offers an opportunity to interact with potential financiers.

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The Lusaka business indaba will be held under the theme ‘Creating Opportunities to Access Finance and Market Linkages’.

Zambia is one of Malawi’s close trading partners. However, the trade deficit between the countries has been widening each year in favor of the Zambians.

For example, the trade deficit grew from $38.1 million in 2018 to $93.1 million in 2020, according to figures from the International Trade Centre.

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