Chilima promises K40bn entrepreneurship fund: Malawi VP breaks down on ‘one million jobs’ pledge

Vice-President Saulos Chilima has said his United Transformation Movement (UTM) administration will launch a K40 billion entrepreneurship fund with K200 000 loan ceiling to 200 000 people to spur employment as part of his pledge to create one million jobs  if elected president in the 2019 Tripartite Elections.

Speaking, Sunday during  a political rally  at Ntcheu Seondary School ground, Chilima said it is possible to employ not just 1 million people in one year but the figure may even be surpassed.

“In the informal sector UTM will launch a K40 billion entrepreneurship fund with K200 000 loan ceiling that will lead to jobs for 200 000 people,” said Chilima.

“These who will in turn employ other people and even if it’s an average of people that is another 200 000, that is 400000 people already,” he said.

Chilima’s pledge to create one million jobs in his first year of office has attracted criticism from both political and economic commentators as well as President Peter Mutharika.

But Chilima during the rally televised like on Times TV and Zodiak,  said the UTM  has the technical know how how to executve their plan by,  among others, introducing “mega farms” in each district to which will anchor processing  factories to create jobs.

“As UTM we come not to seek power, but to seek legitimacy and political space to transform Malawi,” said Chilima.

He said UTM has prioritised a comprehensive socio-political and economic systems overhaul that is going to be tamper-proof so that never again shall there be  abuse of  public resources without consequences.

Chilima said UTM vision is to transform Malawi into a just, modern and prosperous nation, saying he wants Malawi beyond 2019 to be “ a country united in pursuit of happiness and prosperity and in which every citizen has a fair chance to be their best. “

The Veep also said a Cooperatives Authority will be established to steer the establishment and strengthening of well-organised cooperatives in support of the Mega Farm Initiative.

” Government will support the cooperatives with machinery, equipment and necessary facilities – tractors, harvesters and implements. This will enable farmers produce more yield and earn more” he said.

UTM will have another mass rally in Zomba next Saturday.