By Jones Gadama
Investors have been urged to have faith in micro, small, and medium enterprises (MSMEs) as a catalyst for economic growth.
David Slane, chief of party for the Business Acceleration for Youth (BA4Y) project, made the call at a high-level MSME networking event in Lilongwe.
The event, themed “Business for MSMEs – Connecting the Entrepreneurs,” brought together entrepreneurs, investors, government officials, and development partners to celebrate this year’s MSME Day.
Slane emphasized that MSMEs have the potential to drive economic growth, noting that they have weathered challenges and are now poised to scale up.
The BA4Y project has provided significant support to youth-led enterprises, including $10,000 in technical assistance and matching grants of up to $75,000 for 20 selected SMEs.
Additionally, 500 early-stage start-ups have received training, with 200 benefiting from seed grants.
Slane highlighted the positive impact of the project, stating that it demonstrates the strategic importance of MSMEs in driving economic growth.
By investing in MSMEs, investors can unlock new opportunities and contribute to the country’s economic development.
The event showcased the growth and potential of youth-led enterprises, providing a platform for entrepreneurs to connect with investors and partners.
As Malawi continues to promote entrepreneurship and economic growth, the role of MSMEs is expected to be crucial in driving innovation and job creation.
