By Patience Lunda:
Players in the private sector have asked the government to consider giving grants and not loans to the youth to empower them economically.
They emphasise that loans are not easily accessed and are difficult to service for most startups.
This came out during the Mzuzu Youth Trade Concert organised by Mzuzu City Council (MCC) for young entrepreneurs recently.
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Founder of Maloto, the parent organisation for Mzuzu International Academy, Kwithu kitchen and Kwithu community-based organisation Anna Keys noted that there is huge appetite for imports which is affecting Small and medium enterprises (SMEs) to thrive.
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“One doesn’t have to start with a loan to start their businesses and this is the reason most businesses fail and most Malawians have a mentality that goods from other countries are good and yet we have quality locally made products,” Keys said.
MCC Chief Executive Officer, Gomezgani Nyasulu, said lack of exposure is also negatively affecting SMEs to find markets, hence the trade concert.
Small and Medium Enterprises Development Institute (Smedi) Director of Enterprise Development Services, Lydia Kadzongwe, poked the SMEs on the need for quality products.
“Many businesses start well by producing quality products but they stop prioritising quality along the way, which makes them lose their customers,” Kadzongwe said.
