Gwengwe For Investing In Youths’ Innovative Ideas

The Ministry of Finance says there is a need to invest in young people's innovative ideas so they can rightfully be turned into businesses for the country's economic growth.

Minister of Finance Sosten Gwengwe said this during a National Planning Commission-NPC organized workshop to sensitize young entrepreneurs on where and how to access funds to aid their businesses.

Gwengwe says the country’s greatest resource is young people’s innovative ideas that can drive the economy, and spur national development.

He said this this Wednesday in Lilongwe during the opening of a 2-day young entrepreneurs’ workshop on financing organized by the National Planning Commission-NPC, to improve their knowledge on how to get funds for their businesses.

He thus says lending institutions better believe in young people and their business ideas, if the country is to make meaningful investments to attain an inclusively wealthy and self-reliant nation.

“There is a lot of energy and innovative ideas among the younger generation that we need to tap into. What they are lacking is them to be linked with those with resources so that their ideas can be put to use and rightfully be turned into business that can spur the country’s development. We just need to create a conducive business environment for them, remove the collateral,” said Gwengwe.

NPC Director General Thomas Munthali says various institutions have idle funds, some of which are grants, that if unlocked for entrepreneurship purposes can boost small and medium enterprises, thereby contributing to the national economy.

He said, “The youth are very critical. You know that in Malawi 2063 as a vision, a number of us may not be there, but this vision is about them so being part of the envisioning process, they also should be part of the implementing process. That is why we have brought together those with resources, some of them are just idle which at the end of the day return to donors, but if we tap into them so that the youths make investments, we will achieve the 2063 development vision,” Munthali said.

Meanwhile, a young entrepreneur who is into shoe-making Eric Maonde, says he is now aware of financial opportunities that are available for innovative minds.

“After this event, I have figured that as a youth who was lacking some information, I will have full knowledge of where to go for finance, because as I have heard here, everything is available for the youths,” he said.

It is expected that the workshop will expand knowledge on where to get funding for businesses to produce goods which the country may need in cases of shortage of foreign products, as well as exporting, thus contributing to the accomplishment of the national 2063 development blueprint.

Director general of the NPC Thomas Munthali says making young people part of the implementation of the 2063 development blueprint requires that they be empowered by way of making them aware of where to get financing for their investments.

 

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Last modified on Thursday, 02/06/2022

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