By Manasse Nyirenda, MANA
Minister of Gender, Children and Community Development Mary Navicha has challenged youths in the country to be self reliant by creating their own wealth through entrepreneurship.
She made the remarks Wednesday in Lilongwe when she presented symbolic cheques to beneficiaries in the Women and Youth Loans under the Malawi Enterprise Development Fund (MEDF), saying it was high time the youth found an alternative way of sustaining their lives instead of solely banking their hopes on employment.
Navicha presents the cheque to Chabuka
“There is need for mindset change among Malawians,” she said. “For a long time our youths have focussed on getting jobs once they complete their studies.
“But this time around we are encouraging youths to create jobs themselves by doing businesses through various opportunities that government is providing, for instance MEDF loans and skills development that government is promoting,” she said.
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One of the beneficiaries, Sylvester Chabuka — who produces soya flour with various ingredients in Lilongwe — hailed the MEDF loans as life changing for him.
“After completing my university studies in public health, I wanted to venture into a business, but the needed capital was difficult to come by. But when the president launched MEDF loans for the youth I applied and got K2 million.
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“We are now in the second week of selling our products, but the demand has been overwhelming and we are looking at increasing the staff members from the current seven, including myself, so that we can meet the increasing demand,” he said.
He also advised the youths to find alternative income generating activities such as venturing into businesses rather than focusing on finding jobs.
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MEDF Chief Executive Officer, Mervis Mangulenje said so far her organization has disbursed over K4.5 billion in loans to new and established business persons interested in recapitalising their businesses.
Mangulenje further said that her organization has trained 17,931 groups in financial literacy across the country except for Likoma Island.
She also said 6,500 women and 3,100 youth groups have accessed the loans so far.