Malawi’s Small and Medium Enterprises (SMEs) have been assured of a financial boost to help them navigate the current economic challenges, with a fund manager committing to provide affordable loans and mentorship programs.
Business Partners International (BPI) Country Manager Bond Mtembezeka acknowledged the challenges SMEs face due to rising inflation, a depreciating kwacha, and global economic shocks. He emphasized the organization’s dedication to supporting SMEs.
“SMEs play a pivotal role in fostering economic resilience and job creation,” said Mtembezeka. “According to the World Bank, SMEs contribute up to 40% of GDP in emerging economies and account for the majority of new job opportunities. In Malawi, empowering SMEs is not just a business imperative; it is a national priority.”
Mtembezeka highlighted the significant contribution of SMEs to Malawi’s economy, citing their role in driving economic growth, job creation, and social development. He noted that SMEs account for a substantial portion of the country’s GDP and employment opportunities.
“Malawi’s growing population and increasing urbanization are driving demand for goods and services. Sectors such as agriculture, construction, retail, and renewable energy offer significant growth potential,” he added, highlighting SMEs’ contribution to the economy.
Reiterating BPI’s dedication to empowering Malawi’s SMEs, Mtembezeka noted that the organization has a proven track record of supporting numerous SMEs across the country, enabling them to achieve growth and make meaningful contributions to the economy.
BPI supports SMEs by providing flexible business loans that enable them to purchase equipment, access working capital, or acquire and construct commercial property.
The organization also offers comprehensive Technical Assistance, including guidance on financial planning, market analysis, operational efficiency, and risk management.
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