Minister of Local Government, Unity and Culture Richard Chimwendo Banda says Small, Medium Enterprises ( SME’s) and Cooperatives can trigger growth, create job opportunity and construct an economy that is inclusive if red tapes are removed in order to allow more hustlers such as vendors ,go-getters, innovators, job creators, small, medium and micro-sized enterprises (SMEs) to play their active role in rebuilding the economy that is limping due to natural disasters such as cyclones and droughts among others.
Chimwendo was speaking at State House in Lilongwe on Tuesday, February 27, 2024 where President Dr Lazarus McCarthy Chakwera hosted entrepreneurs and engage them on how they can support his government in turning the economy around.
In his remarks Chimwendo said the country needs to get behind the hustlers and strengthen their eco- system and support them.
“Am very glad Mr President that today once again you have showed this country that you believe that SME’s are the backbone of our economy by engaging them to hear their side of story on how they can support you in turning round the economy that has been ravaged by myriads of natural disasters
“In line with your vision Mr President, the hustlers also believe that focusing on them can help in stimulating an inclusive economic growth that can help to create jobs and build a resilient economy,” said Chimwendo who is also Leader of Government Business in Parliament.
Chimwendo also assured the ‘hard working’ entrepreneurs that it is the wish of the government under President Chakwera to remove unnecessary red tapes and regulatory burdens that frustrate SME’s growth.
He also urged the them specifically the vendors to not engage in destructive demonstrations because they threaten investors who want to partner with government in driving the economy forward for the betterment of poor Malawians.
Chimwendo further said one needs only to go just a short distance from here, to City Centre to see first-hand a buzzing hive of entrepreneurial activity after ending the epileptic power supply by Chakwera government.
“There are street hair and grooming salons, food caravans and pavement restaurants, internet cafes and phone repair kiosks, and many more. For us, townships have always represented the heartbeat of a thriving economy, which grew against all odds,” said Chimwendo Banda who is National Director of Youth in the ruling Malawi Congress Party (MCP).
In her remarks, Doreen Jere who represented the Hardware Sector urged government and president Chakwera to put some measures that would restrict foreign nationals not to trade in small businesses when they come in the country because foreign national have huge capacity in terms of resources of which local traders can not compete with.
“The advantages of supporting small businesses lie not only in making an impact on the economy, but also the positive difference it can make in uplifting local communities. Locally owned businesses help shape strong communities by keeping vital spend within small towns and cities, leading to vibrant local economies that benefit all who live there,” said Jere.
In his response, President has assured the hustlers that his government is geared to invest in SME’s for they are the “defenders of the economy” and “job creation hub”.
This is the second meeting that Chakwera has done with vendors and others. The first was at Sanjika Palace in Blantyre.
