NPC organizes youth entrepreneurship financing workshop

The National Planning Commission (NPC) and its various partners have organized a two-day workshop from 1 – 2 June at Bingu International Convention Centre (BICC) in Lilongwe to allow the youths to explore financing opportunities that are available in the country.

NPC Director of Development Planning, Dr. Grace Kumchulesi, disclosed this on Thursday at a press briefing in Lilongwe saying the workshop, Access to Entrepreneurship Financing, is aimed at filling the existing information gap on business financing opportunities among the youth.

Kumchulesi said the workshop has been necessitated by an earlier engagement that NCP had with the youth in January where access to financing emerged as a key challenge among the youth.

“During that engagement with the youth one of the challenges that came out prominently was that they don’t have access to finance,” explained Kumchulesi, adding: “So through this workshop, we want to share information on business financing opportunities that are available.”

She added that the workshop will draw together financing institutions and give them an opportunity to market their financing products for the youth to appreciate.

According to the NCP Director of Development Planning, the workshop will be broadcast live on one of the main national radios and on one of the national TVs, apart from being streamed live on social media.

The workshop has since excited the National Youth Council of Malawi (NYCOM), who has described the development as “commendable”.

NYCOM Public Relations Officer (PRO), Yvonne Sundu, told Mana in an interview via messenger that financing opportunities had always been a challenge to the youth.

She said the forthcoming workshop would help solve that youth face when it comes to financing.

“This is an opportunity for youths to get to know financing opportunities they can exploit for their businesses; youths have difficulties accessing business capital and banks' requirements for loans are most challenging,” said Sundu,

She added: “We would like to commend NPC for targeting youths who are in majority in the country.”

Among the participating institutions at the workshop are the Reserve Bank of Malawi, National Bank, NBS Bank, FDH Bank, Standard Bank, Community Savings and Investment Promotion (COMSIP), Mybucks, and Agriculture Commercialization (AGCOM).