Entrepreneur asks Malawians to venture into value addition

Businessperson and owner of Frank and T Investments, Thom Njirika, has asked fellow Malawians to venture into manufacturing businesses and add value to local produce.

Njirika has taken an initiative in value addition, processing soya beans into cooking oil branded Rising Star, which is currently available on the market at his plant along Chileka Road.

“We are buying soya beans from local farmers nationwide and process them into cooking oil. The cooking oil is selling under the brand Rising Star on the local market. We are currently producing between 16 000 and 17 000 litres of cooking oil per day,” he said in an interview on Monday.

Njirika also commended local banks for bringing down the interest rates, noting that the lower rate would help boost their businesses as they will now start making more profits than they previously did.

Minister of Industry, Trade and Tourism Joseph Mwanamveka in a recent interview said government is keen to improve the ease of doing business in the country.

He said initiatives such as the Malawi Trade Portal, Online Business Registry and the passing of insolvency and company laws have and will continue to aid the ease of doing business.