Ministry of Trade and Industry has urged women entrepreneurs to take advantage of existing laws and regulations designed to promote economic equality and support small-scale businesses.
The ministry’s principal enterprise development officer Lisbert Kumatso said this on Tuesday in Lilongwe during the Women Creating Wealth (WCW) Entrepreneurs Expo.
She cited the special provisions in the Public Procurement and Disposal of Assets Act, specifically the Micro Small and Medium Enterprises Order of 2020, which facilitates market access for small businesses through government procurement with special treatment for small businesses.
Said Kumatso: “The provision acts as a means for promoting the formalisation of small and medium enterprises, 89 percent of whom operate informally.
“Marginalised groups, including women, enjoy up to 15 percent of goods and services and 10 percent for works. Additionally, locally produced goods and services receive up to 20 percent preferential treatment.”
She also mentioned the National Trade Policy of 2016, which addresses weak linkages between trade and constraints hindering emerging market access opportunities.
In her remarks, Federation for Women in Business Malawi Chapter chairperson Sellina Mwenelupembe said that many women are unaware of the policies that are designed to support them.
She said since 2022, the programme has reached over 500 women entrepreneurs in Malawi.
WCW provides a platform for entrepreneurs to showcase their products and services through pitching and exhibitions.
The event boosts entrepreneurs’ confidence in presenting their businesses to investors, create opportunities for connections with potential funders and provide information on market needs and opportunities available to entrepreneurs.
WCW programme, the flagship entrepreneurship initiative of the Graca Machel Trust, seeks to build women entrepreneurs’ confidence, skills and networks.
This initiative helps women to scale up their businesses and transition from income generation to wealth creation.
The programme has already impacted 500 women entrepreneurs in southern and eastern Africa.
