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Sosten Gwengwe challenges youths on innovation

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Minister of Finance Sosten Gwengwe has challenged youths in the country to be innovative and use their prowess in technology to contribute towards national economic growth.

The call was made over the weekend in Blantyre during the launch of the second edition of Business In-Detail magazine.

Gwengwe said youths should think of businesses that go beyond brick and mortar.

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He said the government has put measures in place to help finance businesses through loan facilities under the National Economic Empowerment Fund and the World Bank – Malawi Government Financial Inclusion and Entrepreneurship Scaling project, among others.

“If you knock on the doors under these facilities, you should be able to access finances at lower rates than the commercial rates that are being charged in the banks and all this is meant to bridge the financing gap which has been an issue for a very long time,” he said.

Business In-Detail magazine is a quarterly magazine which was inaugurated three months ago focusing on business opportunities and interviews with captains of industry.

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Business In-Detail magazine Managing Director Tonderai Banda was upbeat on growing the publication.

During the auction, the magazine was bought at K750,000 by renowned lawyer and entertainment legend, Jai Banda.

Apart from launching the magazine, individuals were awarded for performing well in their businesses.

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