Business leaders have warned that Malawi’s small and medium enterprises (SMEs) continue to face serious vulnerability to operational shocks because many do not adequately manage risk or invest in the knowledge required to build financially resilient enterprises.
Speaking during a fireside chat at the November 2025 edition of the 265 Pitch Night in Lilongwe on Friday, CIC Insurance Managing Director Zachary Wambugu said while entrepreneurs are driving innovation across the economy, many remain exposed to preventable risks that can collapse their businesses overnight.
“Entrepreneurs are doing a great job building their enterprises,” he said. “But many are not taking care of the risks that come with their businesses. Our role is to cushion them from shocks so they can operate with peace of mind.”
Wambugu said CIC is expanding its range of business solutions for SMEs—covering fire, burglary, cash losses, employee dishonesty and worker protection—because many small businesses operate without any form of insurance.
He said misconceptions about insurance being a product for large corporations continue to leave SMEs unprotected, even as they face growing exposure to theft, market disruptions and climate-driven hazards.
He also highlighted the importance of collaboration, noting that entrepreneurial platforms like Pitch Night help founders learn from their peers and identify new partners.
“When people share ideas, they can form economies of scale,” he said. “These forums also attract people who can offer donor funding or investment support.”
At the same event, Acades Malawi co-founder Madalitso Chikweke urged entrepreneurs to remain grounded and focused even when formal employment opportunities fail.
She said Acades itself began after she and her colleagues struggled to secure jobs and resorted to pooling savings to finance their agricultural venture.
“Entrepreneurs must be willing to work with like-minded individuals,” she said. “Collaboration becomes easier when each partner brings clear value to the table.”
The November edition of the 265 Pitch Night featured an all-female line-up of pitchers, with the exception of Wambugu who took part in the fireside chat.
The pitchers were Mercy Esau of Tilime Honey, Esther Msefula of Starize, Diana Kachingwe of Zoyera Investments and Simalike Musyani of Loulou Farms—representing honey production, home décor, soap manufacturing and mushroom farming, respectively.
Msefula, who sought financing for a delivery vehicle and eco-friendly processing equipment, said many young businesses struggle not because they lack ideas, but because they operate without access to information, financial literacy or adequate training.
“In Malawi, access to information is a problem,” she said. “Platforms like Pitch Night help us learn from other entrepreneurs and from guest speakers who share practical insights on how we can thrive.”
Organisers say Pitch Night—run in partnership with GrowthAfrica, mHub, universities, investors and private-sector partners—aims to strengthen Malawi’s entrepreneurship ecosystem by improving visibility, mentorship and investor connections for early-stage businesses
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