By Deogratias Mmana:
Standard Bank has pledged continued financing of agriculture sector development efforts and empowering small and medium enterprises (SMEs) to contribute to national economic development.
Standard Bank Chief Executive Phillip Madinga said this on Friday in Lilongwe during the graduation of 46 SMEs and presentation of K10 million to winner of the Phuka Pitch night.
“Standard Bank believes in the potential of agriculture to continue anchoring the Malawi economy. In recent years, we have repositioned ourselves to take a clean interest in playing a key role in financing agriculture in view of its important role as the main driver of the economy,” Madinga said.
Last year, the bank partnered Centre for Agricultural Transformation (CAT) and Synergy Labs to enroll entrepreneurs in agriculture for six weeks of intensive training on business management.
“As these 46 SMEs graduate today, we cannot help but appreciate the fruits that Phuka has brought to our nation,” Madinga said.
CAT Executive Director for Mcleod Nkhoma urged entrepreneurs to adjust and move with the times.
“You must learn to graduate fast. You should never remain as grant entrepreneurs. There is a mistake that is normally made, especially when there are so many grants out there, that you start developing a culture of hopping from one grant to another,” Nkhoma said
Synergy Labs Chairperson Judge Zione Ntaba urged the entrepreneurs to take risks if they want to succeed.
She commended the collaboration and cooperation among Synergy Labs, Standard Bank and CAT for creating space for the agriculture sector.
Five entrepreneurs pitched their businesses and Tadziona Chigwe of Teren Agro was announced the winner and received K10 million.
