K17 million loans disbursed through Teveta

The Technical Entrepreneurial Vocational Education and Training Authority(Teveta) has said more than 70 trainees who successfully completed their training with the authority across the country have
benefited from its facilitated business loans.

Teveta entered into partnership with Opportunity Bank of Malawi (OBM) in 2013, where it facilitates loan disbursements to the beneficiaries.

Speaking in an interview on Friday on the sidelines of informal sector graduation at Jenga Community Skills Development Centre in Bolero, Rumphi District, Teveta’s director of training Modesto Gomani said so
far K17 million has been disbursed to the 70 people through its loan facility with OBM.

“We had a review meeting with OBM a few days ago and so far more than 70 have benefitted from the facility and are doing quite very well. We now want more people to access the facility,” said Gomani.

However, Gomani said it was noted at the review meeting that some of them fail to fulfill certain requirements to access the loans; hence the authority has reviewed some of the conditions for the loans to be accessible to many.

He said Teveta graduates mostly from the informal sector are encouraged to start their own business and create jobs for others.

“Most graduates ask for startup capital from Teveta upon completing their training. However, Teveta’s capital is the skills that it provides in them. They can go to OIBM in clubs to access business loans and use it for the intended purpose,” said Gomani.

Addressing the graduates, Gomani said they should improve on quality as what was showcased was substandard which would affect its marketing.

He said he had hope that they would improve with time.

One of the graduates who was trained in tinsmith, 53 year old Joyce Chirambo, said she is now making more money through her new trade.

“I have so far made sales worth K50 000 from watering canes and mbaula,” she said.

Caption: Gomani in grey suit with regional centre manager Conceptor Kachoka and Principal Village Headman Chipimbiri admiring furniture