LILONGWE-(MaraviPost)-The launch of the much awaited Malawi Nacala Rail and Port Value Addition project is expected to bring opportunity to Small and Medium Enterprises (SMEs) in business ventures.
The project seeks to address some of these challenges by providing tailor-made training and coaching to small and medium enterprises and smallholder farmers.
With the financial support totaling US$ million from Japanese government through the African Development Bank technical, the projects runs for three years.
And with stewardship from Malawi Investment and Trade Centre (MITC), the projects targets more than 1,000 families along the railway from Balala to Mchinji.
MITC Chief Executive Officer Clement Kumbemba told The Maravi Post this week after launch of the project in the capital Lilongwe that the launch of the Malawi Nacala Rail and Port Value Addition project is an opportunity and hope for Malawi’s prosperity.
Kumbemba added that the project will ultimately support SMEs in accessing export markets.
“This Project seeks to address some of these challenges by providing tailor-made trainings and coaching to small and medium enterprises and smallholder farmers.
The trainings are aimed at shifting the mindsets of smallholder farmers from subsistence farming to agribusiness and equip small and medium enterprises (SMEs) with sound business management skills and practices,” said Kumbemba.
Echoing on the same, Frank Mvula, African Development Bank (ADB),Frank Mvula,Country Manager- Malawi Office said the corridor is critical to enhancing regional and international trade competitiveness particularly for landlocked countries such as Malawi.
Mvula added that ADB Group is committed to ensuring adequate participation of women who will constitute at least 50% of beneficiaries of this project.
“High value crops such as legumes and oilseeds which are prioritized in the Malawi National Export Strategy and have high demand in the export market will likewise be prioritized in the TA project.
“Women, will be strongly supported to participate in farm related income generating activities and contribute meaningfully to the socio-economic development of their communities,” said Mvula.
William Peter, National Association of SMEs chairperson assured the proprietors of the initiative that its members will make use to invigorate business venture.