Parliament has passed the Micro, Small and Medium Enterprise Bill which seeks to provide a conducive legal, institutional and regulatory framework for micro, small and medium enterprises in Malawi.
Speaking after passing the bill, Minister of Trade and Industry Sosten Gwengwe said once it becomes law, the Small and Medium Enterprise Development Institute (SMEDI) will become Small Medium Enterprise Corporation-SMECO.
This, he said, will give more powers to the institution to start providing financial services but also help SMEs known to government for business opportunities.
The bill is expected to help foster coordination between SMEs and private business players for such enterprises to thrive.
