Scottish funding helps train 20 women in SMEs
Scottish government funding has helped in the training of 20 women in a business mentorship program that will enable them start and manage their small and medium enterprises (SMEs).
The programme was made in partnership with First Merchant Bank (FMB) and the Opportunity Bank of Malawi.
During a graduation ceremony at Crossroads Hotel in the capital Lilongwe last week Opportunity Bank managing director, Richard Chongo, said the training will promote the small and medium enterprise sector, especially through the uplifting of women entreprenuers.
“It is our responsibility to make Malawi a better nation. We believe in uplifting women because we know their success is this nation’s success,” said Chongo.
She congratulated the women for making a decision into what many of their fellows consider a men’s territory.
Scottish Government Small Scale Entrepreneurship Project coordinator, Mary Mwase, said the project aims to support Malawi government’s efforts of tackling poverty and achieving wealth creation through sustainable economic growth.
According to the government of Malawi, by addressing key problems in micro-businesses such as lack of access to financial services and entrepreneurship trainings the country is good to go.
Graduating women were drawn from Area 25, Malangalanga of Malawi’s capital Lilongwe plus Salima, Mzuzu, and Blantyre.
In the project, the Scottish government managed to hire a consultant to review existing micro-business products; and, existing and potential clients were talked to for their opinion.
The Scottish government also provided loans ranging K100 000 to K10 million to the 20 grandaunts.
Loans repayment is a taboo for many Malawian borrowers. To them loans coming towards elections are manna from above. Look at Finca and Malawi Rural Financing Company they all collapsed. Finca through their loans recovery brigade confiscated goats, children and iron sheets. DPP gave loans to its cadets for apprenticeship and SMEs but no one paid back.I dont know if the Scottish were told this history of how averse Malawians are in loan repayment.
Just a point of correction , its Opportunity Limited not Opportunity Bank. Furthermore there were more than 100 women in the program who graduate.