Smedi says SMEs growth could spur development
Small and Medium Enterprises Development Institute (Smedi) chief executive officer Charles Kazembe has said if the number of Malawians actively involved in economic activities in increased, the country’s economy could register substantial growth.
In an interview with Malawi News Agency (Mana) last week, he said utilisation of the resources that the country has is critical to economic growth and development.
“The country is not poor; it is a land of huge opportunities for development and growth of small and medium enterprises [SMEs]. Malawians are capable of doing something regardless of their status, income levels or educational levels. Determination and mindset shift is what is needed,” said Kazembe.
He was speaking in the context of the 2015 SME survey which established that there are almost one million small businesses in Malawi, employing millions of people and contributing about 50 percent to the gross domestic product (GDP).
“If we change our mindset, Malawi will develop. People are now drinking Malambe juice, thobwa drink as well as bottled water which are locally made. These are economic activities which call for us to challenge ourselves to scale to greater heights,” he said.
On his part, Small and Medium Enterprises Association (Smea) president James Chiutsi said SMEs are vital for the country’s development in terms of wealth and job creation.
He said two thirds of people in Malawi are employed by SMEs and not big companies.—Mana
