Standard Bank Malawi plc chief executive Phillip Madinga has challenged young people to develop technologies and enterprises that will transform Malawi.
In a keynote address at the National Youth Summit in Lilongwe on Tuesday, he said his call places a huge responsibility on young people to innovate and develop enterprises that provide solutions to challenges at both community and national levels.
Madinga said young people should not limit themselves to existing business models but should look for new ways of solving problems and creating opportunities.
“We want our young people, whether it’s in creative arts, agriculture or small-scale mining, to participate because the future of this country belongs to these young people,” said Madinga.
He commended government for allocating over K22.9 billion to the Youth and Women Empowerment Fund, saying financial institutions are willing to support promising startups that demonstrate investment potential.
Deputy Minister of Natural Resources Chipiliro Mpinganjira, who officially opened the summit, assured young people of government’s support and encouraged them to prioritise entrepreneurship and job creation rather than relying solely on formal employment.
He acknowledged that young people continue to face challenges including high unemployment and underemployment, limited access to business loans and land and inadequate markets for youth-owned businesses.
“These obstacles demand immediate and practical action. If we fail to act, these economic challenges will continue to grow and stall our collective national progress,” said Mpinganjira.
National Youth Council of Malawi executive director Rhoda Gadama Misomali described the summit as an opportunity for young people to engage critical stakeholders who can help unlock their potential.
The summit is being held under the theme ‘Accelerating progress: Reflecting on impact, expanding prospects for youth development in Malawi’.
