LILONGWE-(MaraviPost)-The 25-year-old male, Franscisco Mbotwa from Nkhata Bay boma has become the second winner in Triephornia Mpinganjira’s ‘Kuthandiza Omwe Alibe Kuthekela kupita Patsogolo’ initiative.
The 25-year-old male who sells fish in the lakeshore district has a dream to grow to the levels of Madelco Fish Company.
Third born in the family of 5, Fransisco, whose parents are just subsistence farmers at Nkhata Bay boma, holds a certificate in Financial Accounting.
During cheque presentation of MK1 million on Thursday, May 2, 2024 in the capital Lilongwe, Mbotwa told the press that, “After failing to secure a job, with support from his parents he started buying fish from the fishermen and selling it”.
However, due to little capital, his business was just hand to mouth until he saw a post about Madam Triephornia’s call for K1 million business proposal. He applied and became successful.
His business idea reads, “With K1 million, Francisco wants to grow his fish selling business and his vision is that one day he will grow into a giant such as Maldeco.
How?
Francisco wants plans to purchase his own canoe, net and employ 3 fishers. He wants to do this because fishing business is more profitable when you own your canoe, net and have your fisher that relying on buying other fishers.
Francisco says his fishers will be going into the lake three times a week and he envisions, after expenditures, to be making K200 000 a week, MK600 000 a month and about MK7,200 000 a year.
Further, by the end of this year, he will have purchased 5 canoes, 5 nets, two deep freezers and a fish selling. This translates to having 17 people employed—15 fishers and two salespeople.
Francisco adds that he plans to reinvest all his profits in the business so that, in the next five years, he will be established as the main fish seller at Nkhata Bay boma with two four large shops, over 40 canoes and nets and employing over 100 people.
In her remarks, Mpinganjira continued to encourage young people sending business idea until they passed the criterion.
She hinted that initiative targets young people with great business idea but lack capital for serious business venture.
Mpinganjira therefore called upon individuals, organisations who want partnership in initiative to come forthwith to reach more needy.
Launched March 2024, the initiative target 18 young people for MK18 million set aside for serious business ventures.