Ecobank, GIZ move to empower local entrepreneurs

Ecobank Malawi Limited says SMEs Business Clinic is critical in driving economic empowerment and fostering entrepreneurship.

The bank’s head of commercial banking George Phuza said in a statement on Wednesday after the bank in collaboration with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) Support Programme to the African Continental Free Trade Area (AfCFTA) hosted an SME Business Clinic in Lilongwe.

The event, which was held under the theme ‘Unlocking your business potential’, sought to equip entrepreneurs with business management skills, knowledge and tools to expand their operations and seize opportunities within AfCFTA and global export markets.

He said: “Our partnership with GIZ underscores our commitment to supporting small and medium enterprises and promoting intra-African trade.

“Through initiatives such as SME Business Clinic, we aim to provide entrepreneurs with the resources and guidance needed to thrive in today’s competitive market landscape.”

Northeast Foods Limited chief executive officer Kettie Chisambi, who was a keynote speaker, shared her experiences in exporting products within Africa and beyond.

Her firm specialises in exporting birds’ eye chillies, pulses, tea and coffee to European markets such as Spain, the Netherlands, France, the UK and Germany.

She said: “Despite the challenges encountered in exporting products, including logistics and regulatory hurdles, there is vast potential for Malawian SMEs to capitalise on the high demand for food products within Africa and globally.”

One of the participants, Martin Isyagi, who is managing director of Sani Limited, an agricultural business specialising in seed multiplication and the distribution of agricultural inputs, said the SME Business Clinic is key to enhancing Malawian entrepreneurs’ export capabilities.

The SME Business Clinic presented an opportunity for the bank to also showcase the Ecobank Single Market Trade Hub, a digital platform which serves as an exchange and information repository to respond to the evolving trading needs of SMEs and corporates within Africa’s single market.

Ecobank Malawi, which is part of the Ecobank Transnational Incorporated, serves about 29 million customers in the consumer, commercial and corporate banking sectors across 33 African countries.