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Youths urged to save, invest

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By William Kumwembe:

Macfussy Kawawa

Budding young entrepreneurs have been urged to secure their financial future by saving and investing in various forms.

National Bank of Malawi (NBM) Chief Executive Officer, Macfussy Kawawa, said this at a Youth Entrepreneurs training the bank organised on Friday in Blantyre.

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Kawawa said, while majority of the country’s population were the youth, most were ignored in the financial cycles, hence, need for incorporation.

“Access to finance is indeed an issue and, talking to individuals, that comes as one of the major factors affecting the youth. However, there a number of reasons and one of them is lack of knowledge on how to approach banks,” Kawawa said.

He said through forums such as the training, the bank would intensify efforts to create awareness on financial issues and investment among budding entrepreneurs.

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Kawawa said the bank expected number of youths accessing their services to grow as the bank brings tailor-made services and products to entrepreneurs.

“Our expectation is that there will be more activity by these young entrepreneurs and a better interaction with the bank,” Kawawa said.

One of the participants, Ray Khuoge, who is running transport business, commended the bank for creating the platform which, he said, was ideal to exposing the youth to market trends and business requirements.

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