By Staff Reporter
Minister of Trade and Industry, Sosten Gwengwe has reiterated government’s commitment towards seeing a downward trend in policy rate as well as lending rates so that the cost of borrowing for Small and Medium Enterprises (SMEs) is reduced.
The Minister said this in Lilongwe today after touring Naturals Limited who are manufacturers and distributors of Malambe Juice, Khatikhati including the popular afrofidisiac blended Khatikhati with Gondolosi which has quickly taken over the domestic natural juice market.
Chief Executive Officer for Naturals Limited, Towera Jakalasi, has pleaded with the Minister to note the issue of the cost of borrowing if SMEs are to grow and compete on the global market.
Regional Director for United Nations Development Programme (UNDP) for Southern Africa, Ahunna Eziakomwa, who toured the factory together with Malawi’s Minister of Trade and Industry called for serious attention towards the issue of the cost of borrowing by government and all players concerned.
“We need to find answers to this,” she emphasised.
Naturals Limited which is also looking into value chains for Mangoes and Sunflower, is currently employing 35 people on formal employment while providing informal employment to 2000 smallholder households of whom 68 per cent are women.
Looking ahead, Gwengwe also disclosed that his Ministry is already looking at ways of addressing the prevalent non-tariff barriers affecting businesses and organising a packaging conference for all players to deliberate on how the packaging industry can support trade competitiveness by strengthening product brand and enhancing exports that compete well on the global market in line with MW2063.
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