Ministry, council lobby youths on innovation fund
The National Youth Council of Malawi (Nycom) on Friday engaged young chief executive officers (CEO) from various small-scale youth businesses as part of lobbying for the Youth Innovation Fund.
Nycom created the fund to raise money to help struggling young entrepreneurs.
Minister of Youth and Sports Ulemu Msungama, who was the guest of honour, said the engagement was about how government and the private sector can work together to create one million jobs.
He said: “As government, we are committed to reducing unemployment among the youth who form over 50 percent of the population. Creating one million jobs is a collective effort between government and the private sector.
“This engagement is about assuring the youth of political will to create a conducive environment that encourages them to bid for government contracts so that in return they can employ more people.”
Msungama said they wanted to brainstorm on how “we can address labour demands to create jobs through promotion of entrepreneurship and also direct employment”.
The Youth Innovation Fund seeks to raise K1 billion to build capacity for struggling young entrepreneurs and help youths with promising business plans.
Nycom CEO Dingiswayo Jere said the fund aims to create wealth through businesses among youth entrepreneurs.
He said: “Through this interface, we are creating a database and establish long-term relationships. We also want to pair other entrepreneurs with them.
“We want these people to support and mentor other youths into entrepreneurship. We have youths who want to start business and others have business but want to scale up.”
On his part, Imela Brands CEO Ian Ndalama said the meeting was timely and motivational.
He said: “It is a good initiative from the ministry and the commitment from the minister that government will support businesses run by young people.
“We are ready to work with the ministry to provide employment opportunities for young people who have finished school but have nothing to do.”
