President Lazarus Chakwera Thursday hosted vendors at Chikoko Bay State Lodge in Mangochi, where he reaffirmed his commitment to supporting small and medium enterprises (SMEs).
The vendors came from markets across the Eastern Region.
“The significant contribution of SMEs to the country’s economy is enormous and cannot be overemphasised, especially your role in creating employment opportunities, stimulating innovation and promoting local economic development,” the President said.
He pledged to continue supporting SMEs through initiatives such as access to finance, training and market access.
Chakwera said his administration recognises the potential of SMEs to drive economic growth and reduce poverty levels.
“As such, we will sit down with your leadership to see how best we can assist you because having a vibrant micro-economy is what my government is interested in building on,” he said.
Chakwera also stressed the importance of empowering local entrepreneurs, particularly women and youths, to start and grow their businesses.
He added that SMEs are essential for building a resilient and inclusive economy.
A representative of the vendors from Zomba, Ayatu Brown Chidothe, thanked Chakwera for hosting them.
Chidothe also praised the National Economic Empowerment Fund for issuing loans to people “without favouritism”.
He, however, said there are other vendors who are yet to receive the loans, hence they should be considered.
Deputy Minister of Local Government Owen Chomanika also hailed Chakwera for hosting the vendors.
“The people gathered here are the ones who are driving this economy from their markets,” Chomanika said.
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