Minister of Local Government, Unity and Culture Richard Chimwendo Banda says micro and Small Medium Enterprises (SME’s) are the “game changers” of the country’s economy hence President Dr Lazarus Chakwera has decided to create a conducive environment by developing reforms, inject capital in lending institutions and enhance capacity building for them to adapt in the ever changing business environment.
He was speaking today at Vigwagwa Market in Mzuzu city where President Dr Lazarus Chakwera toured the market and addressed vendors and other small businesses.
In his remarks, Chimwendo said government believes that SME’s are bedrock of economic development hence need for close partnership.
“We consider SMEs as the seedbeds of socioeconomic transformation and growth. Therefore, government will continue to support and strengthen their businesses ventures so that they thrive and create more job opportunities.
“Chakwera also believes that a striving private sector including manufacturing, agribusiness and other sectors are the main drivers of the country’s rapid economic development and therefore committed to implementing measures within microeconomic space to stabilize the kwacha and reduce significantly the cost of borrowing as spelled out in this year’s budget while simplifying and rationalising regulations that impede business competitiveness,” said Chimwendo Banda who is also Leader of Government Business in Parliament.
ENDING QUOTA SYSTEM AND OTHERS
Chimwendo said President Chakwera promised to abolish the heinous quota system that had a potential of putting education system in a comatose and subsequently paralyse economy sector as education is the nursery ground for future of every nation.
“For this reason, we have decided to invest in constructing more secondary schools, colleges and universities across the country with an intention of giving equal opportunities to every family to pursue their dreams and aspirations,” said Chimwendo Banda who is also popularly known as bulldozer in political circles for his special skills in crowd mobilisation and resources.
Chimwendo also lauded the Malawi leader of increasing Social Cash Transfer Programme (SCTP)—locally known in Chichewa as Mtukula Pakhomo to K150,000 per family. Apart from that Chimwendo praised Chakwera for employing several cabinet ministers from North and other top government officers including Reserve Bank of Malawi.
In his remarks, Chakwera said with unity of purpose the economic problems that Malawi is facing will end soon.
Several cabinet ministers and other government officials accompanied the president on the tour.
