Rédaction Africa Links 24 with Malawi Voice
Published on 2024-03-09 11:31:08
Minister of Local Government, Unity, and Culture Richard Chimwendo Banda emphasized the crucial role that micro and small medium enterprises (SMEs) play in the economy of Malawi. President Dr. Lazarus Chakwera is dedicated to creating a conducive environment for SMEs by implementing reforms, injecting capital into lending institutions, and enhancing capacity building to help them thrive in the ever-changing business landscape. This commitment was reiterated during a visit to Vigwagwa Market in Mzuzu city, where President Chakwera engaged with vendors and small business owners.
Chimwendo noted that SMEs are the foundation of economic development and stressed the importance of a strong partnership between the government and these enterprises. He highlighted the government’s continuous support for SMEs to ensure their growth, job creation, and contribution to the overall economy. President Chakwera recognizes the private sector, including manufacturing and agribusiness, as key drivers of economic growth in Malawi. His administration is committed to implementing measures to stabilize the local currency, reduce borrowing costs, and streamline regulations to enhance business competitiveness.
In addition to supporting SMEs, President Chakwera’s government has pledged to address issues within the education sector. Chimwendo announced the abolition of the quota system in education, which had been impacting the quality of education and subsequently the nation’s economy. The government is investing in the construction of secondary schools, colleges, and universities across the country to provide equal opportunities for all families to pursue their dreams.
Furthermore, the government has increased the Social Cash Transfer Programme (locally known as Mtukula Pakhomo) to K150,000 per family to alleviate poverty. President Chakwera has also prioritized inclusivity by appointing cabinet ministers and top government officials from various regions, including the North. The President emphasized the importance of unity in overcoming the economic challenges facing Malawi.
During the tour of Vigwagwa Market, Chakwera expressed confidence that with a united effort, Malawi would soon overcome its economic hardships. Several cabinet ministers and government officials accompanied the President on the visit, demonstrating a unified approach to addressing the country’s economic concerns.
In conclusion, the government’s commitment to supporting SMEs, improving the education sector, and increasing social welfare programs reflects a comprehensive approach to addressing the economic challenges facing Malawi. Through strategic reforms and investments, President Chakwera aims to create a conducive environment for businesses to thrive and contribute to sustainable economic growth in the country. With a shared vision and collaborative efforts, Malawi is poised to overcome its economic hurdles and build a brighter future for its citizens.
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