The COMESA Federation of Women in Business (COMFWB) Malawi Chapter has highlighted the vital role women play in driving the economy, emphasising the need for them to be well-versed in business finance options to support the growth of their enterprises.
Chairperson of COMFWB Malawi Chapter, Selina Mwenelupembe, emphasised during a recent workshop that financial access remains the greatest challenge for women in business.
“Without capital, women-led businesses struggle to generate employment and profit,” she said.
Mwenelupembe added that with the right financial support, small businesses could grow significantly, noting that women naturally inspire and empower each other when they collaborate.
Country Manager for the Graca Machel Trust, Evelyn Kamanga, reinforced this sentiment, explaining that the workshop aimed to bridge the knowledge gap by educating women on how to access various funding opportunities.
“I am confident that participants will now be able to pursue financing opportunities and expand their businesses after undergoing the training,” Kamanga said.
Head of Enterprise Development at Malawi Agricultural & Industrial Investment Corporation (MAIIC), Peter Chipewa, pointed out that knowledge gaps regarding funding requirements and a lack of innovation in business ideas hinder women from accessing finance. He encouraged women to overcome cultural barriers and develop long-term business strategies to succeed in a competitive environment.
One of the attendees, Francesca Chavinda, co-founder of Tilime Honey Producers, shared how her eco-friendly business, initially started to protect trees in her village, has faced financial challenges.
“The workshop has provided practical guidance on financial management and preparing businesses to be funding-ready, helping women like myself grow our enterprises and secure a better future,” said Chavinda.
The conference was held under the theme: Unlocking Access to Finance for Entrepreneurs: Strategies, Tools, and Opportunities.
COMFWB, established in 1993 in Zimbabwe with the endorsement of COMESA Heads of State, serves as a platform for women entrepreneurs to exchange ideas, implement development programmes, and encourage the growth of women-led businesses.
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