The Government of Germany has pledged support for women-led businesses in Malawi and seven other African countries through mentorship, access to finance and business development initiatives under a programme pegged at €1.2 million (about K2.4 billion)
During the launch of the Investing in Young Businesses in Africa (IYBA) Women Entrepreneurship for Africa in Lilongwe on Tuesday, GIZ team leader Theresa Rooney said the programme seeks to strengthen entrepreneurial support organisations such as mHub and Umodzi Consulting, which offer gender-responsive and green business services.
She said the programme involves over 500 participants, including women entrepreneurs, entrepreneurial support to organisations, development partners and government representatives.
It provides coaching, mentorship and opportunities for building resilient businesses, accessing finance and pursuing green growth.
Said Rooney: “The team Europe initiative is empowering women entrepreneurs to lead Malawi’s green and inclusive growth.
“By investing in women’s economic leadership and resilience and equipping them with necessary skills, networks and resources, we are fostering their ability to drive Malawi’s sustainable development.”
Ministry of Industrialisation, Business, Trade and Tourism principal enterprises development officer Lisbert Kumatso said such incubation initiatives have the potential to produce resilient women entrepreneurs who could inspire young women to venture into business.
She noted that government is enhancing policies to help women-led businesses thrive, particularly through the SME Order of 2020, which gives small businesses preferential treatment in public contracts.
Said Kumatso: “By promoting women’s entrepreneurship in green sectors, the programme contributes to greener and more inclusive growth in the country.
“Such programmes contribute to closing the gender gap and financing markets, thereby increasing women power and influence by removing barriers to work, enabling decent employment and supporting women’s enterprises to thrive.”
One of the programme’s beneficiar ies, Christina Chabwera, who produces mushrooms under Nabale Enterprises in Zomba, said through the programme’s support, they were linked to markets and accessed funding to enable the business start growing.
The Investing in Young Businesses in Africa programme, co-financed by the European Union, Organisation of African, Caribbean and Pacific States and the German Federal Ministry for Economic Cooperation and Development to the tune of €1.2 million (K2.4 billion), is being implemented in Malawi, Mozambique, Cameroon, Kenya, Senegal, Tanzania, Togo and Uganda.
