Malawi to reposition SMEs sector

Minister of Industry and Trade Sosten Gwengwe has said there is need to reposition the Micro, Small and Enterprise (MSMEs) sector in both local and global scenarios to enable the sector play its rightful role.

Gwengwe said this during the launch and dissemination of the MSMEs survey results at Cross roads Hotel.

The aim of the survey was to help government and other relevant stakeholders understand the current environment in which SMEs are operating, assess their competitiveness and identify the most binding challenges affecting growth and profitability of SMEs.

“The small and medium enterprise sector, though fairly young, is very important sector, and has the potential to change the lives of many economically disadvantaged sections of our people who have limited access to formal employment opportunities,” said Gwengwe.

The minister said research studies elsewhere have indicated that MSMEs significantly contribute income and employment, among others.

During the meeting, it was revealed that small and medium scale businesses employ 66 percent of the paid labour force.