Finance ministry says there is need for huge investment by government and the private sector towards youth innovations to be scaled up and patented for Malawi to realize her development aspirations.

Minister responsible Simplex Chithyola Banda said in Lilongwe that innovations being unearthed through the implementation of the Youth Innovation Fund bear testimony that the country has been losing a lot of potential in youth innovations by failing to prioritize young innovators in national development plans.

“There is need for a top up to the money that is allocated to this Youth Innovation Fund initiative. Sometimes we are short cited, failing to invest in the youth for Malawi’s economic growth,” the minister said during symbolic cheque presentation to 20 youth innovators in Lilongwe whose applications qualified for the Fund.

This is a K2 billion fund being managed by National Youth Council of Malawi NYCOM and benefiting 150 young innovators in the current financial year, up from K100 million-kwacha allocation in the 2023/2024 fiscal plan.

Chithyola Banda said besides financial investment, there is need for collaboration among players including government ministries, departments and agencies to support production and marketing of products from the youth innovations within and beyond Malawi borders.

He also emphasized on unity and experience sharing among youth innovators for them to leave a mark on Malawi’s economy.

“If we are to grow then definitely, we need to grow in knowledge and experience and that calls upon the need for the youth to share knowledge and experience on their innovations to enhance quality but also quantum in terms of production,” observed the finance minister.

Chief Executive officer for NYCOM Rex Chapota said Malawi is rich with innovators who are only lacking capital, mentorship and exposure to play their part in transforming the country’s economy and development.

“What we are doing is not just to give out these grants but also providing technical expertise to these young people and ensuring that their products are certified with the Malawi Bureau of Standards. Beyond that, we want innovations that can be done enmass because quantity and quality,” envisioned Chapota

Boniface Ngomwa of Mchenga Pottery and Priscila Phiri Kacheyo of Simply Natural Malawi enterprise are among the 20 beneficiaries of the YIF from Lilongwe.

Ngomwa’s vision is to grow his innovation in pottery and supply the construction industry with locally made tiles

“We look forward to upscale our production to match with construction works right now where people need such materials like tiles, sinks and toilet bowls and we have the capacity to supply that,” Ngomwa boasted.

Kacheyo’s ambition on the other hand is to increase supply of cosmetic products made using local materials and help save forex.

The grants are being offered to youths with innovations in the Agriculture, Tourism, Mining and manufacturing sectors to accelerate production in line with Malawi 2063 development aspirations.