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MALAWI HAS POTENTIAL FOR SMEs DEVELOPMENT – INVESTOR

Ugandan Investor, Tirupati Development Limited has shown interest to invest in Malawi and has asked the Ministry of Trade and Industry to make an effort in making sure that about 15 hectares of land for development purposes is available.

This was disclosed in Lilongwe when top
managers from the organisation paid a courtesy call to Minister of Trade and Industry, Mark Katsonga Phiri.

Speaking at the gathering, Managing Director for Tirupati Development Limited, Miraj Barot, said Malawi needs to show that Small and Medium Enterprises (SMEs) can help the country become self-reliant.

“My father started from a humble beginning to a stage where the company capital is hovering around 100 million dollars because of dedication and focus on SMEs.

“We are into different sectors starting from construction to waste management. We want to bring interventions that will see the
Malawian youth getting jobs for the development of their families and the country at large, ” said Barot.

The visit follows  Katsonga ‘s visit to Uganda a few months ago where he had time to visit a few facilities.

‘’My visit was to benchmark what the Government of Uganda is doing to promote import substitution and SMEs. I was impressed with the SMEs in Uganda and I noted that if Malawi indeed invests
more money in the industry, SMEs can be developed.

President Dr Lazarus Chakwera entrusted me with a Business Ministry, so we need to be thinking business all the time,” Katsonga added.

Katsonga further said he was excited with the model used by Tirupati, for the big investor to set up space for small
manufacturers and provide them services, which he said should be adopted here in Malawi. He said small businesses, are important for the economic development of African nations and must be recognized since they provide over 90 percent of the jobs.

The Tirupati Industrial area was commissioned by President Yoweri Museveni of Uganda in February 2015 and offers warehouses that accommodate different enterprises dealing in shoe making, milk production, drinking straws, agricultural chemicals,
crafts, and waste management among others.

At the meeting in Lilongwe, Barot was accompanied by his father who is the chairman of Tirupati Group and Dr Emmanuel Del-Tumi, who is President and Chief Copy-Writer HCI Africa.

The team commended President Dr Lazarus Chakwera and the Minister of Trade and Industry for the great work they are doing in making sure that Malawi becomes a fertile ground for investment.

During the meeting, Katsonga was accompanied by Principal Secretary for Trade and Industry, Christine Zakeyo, Nwazi Mnthambala Principal Secretary for Industry, Francis Zhuwawo Principal Secretary for SMEs and other officials from the Ministry of Trade and Industry.

#MBCNewsLive

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