Zantchito Project Introduces SMEs Database for Enhanced Support
With the introduction of the SMEs database, it is anticipated that this project will significantly enhance the support and services available to SMEs in the country.
Lilongwe, Malawi-Malawi's Zantchito Skills for Job Policy Project has unveiled a new database for Small and Medium Enterprises (SMEs), aimed at bolstering support for SMEs and improving service provision, writes Judgement Katika.
During the Small and Medium Enterprises (SMEs) and Business Service Provider (BDS) Workshop, Tionge Kaonga, Managing Director of Umodzi Holdings, emphasized the need for such a database.
He pointed out that over an extended period, there has been a proliferation of individuals claiming to be SME consultants, with the quality of support provided often falling below acceptable standards.
Kaonga elaborated on the purpose of the SMEs database, explaining that it will enable a better understanding of the SME landscape, including their specific value chains and the challenges they face.
This, in turn, will facilitate the targeted addressing of their needs.
He stated, "The Ministry of Trade and Industry has recognized a need to bridge the gap in service provision, aiming to create vibrant SMEs in Malawi capable of competing at regional and global levels."
Kaonga further highlighted the potential of SMEs to produce high-quality products that could be exported to international markets.
Alinafe Mpoka, Senior Marketing Business Development Officer at Small and Medium Enterprises Development Institute (SMEDI), emphasized that the new database would consolidate all information about SMEs into a single platform.
This consolidation would make it easier for various organizations to access vital SME information, ultimately benefiting SMEs across the board.
The Zantchito Technical Assistance Project receives funding from the European Union and has a primary goal of strengthening the entrepreneurial ecosystem in Malawi.
With the introduction of the SMEs database, it is anticipated that this project will significantly enhance the support and services available to SMEs in the country.