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Scottish Minister for Culture and External Affairs Fiona Hyslop, has applauded activities being carried out by Small and Medium Enterprenuers (SME's) in the country.
Hyslop who was in the country last week visited several projects being funded by the Scottish government.
Among the projects were the Capacity Building for Enterprise (CBE) which is being implemented by Business Consult Africa (BCA) and a MicroLoan Foundation project in Nkolesia village, Traditional Authority Kapeni in Blantyre.
Hyslop said that from the projects she had visited she noted that the beneficiaries were hard working and determined to achieve higher goals.
“The strength of these projects is that the beneficiaries have shown their spirit of hard work which is important. SME's are a back bone of any economy, even in Scotland, SME's contribute hugely to the economic growth and it even contributes more SME's than the UK,” she said.
The Minister further said if the local money is circulating within the communities it means the money will be building a strong local economy.
She further said with enhanced skills and proper training, there is room for the SME's to grow.
“Malawi has a long way to go in terms of growth of Small and Medium Enteprenuers, but with the long relationship between Scotland and Malawi, we will continue to support the local SME's in an effort to boost the local economy,” she said.
The MicroLoan Foundation group Takonzeka which the Minister visited, comprises of 17 women who run various businesses ranging from rice selling to poultry.
The group's chairperson Mary Chikakuda said the foundation had helped the women change their lives economically.
“We are now economically empowered and our homes are now food secured and we are also able to pay for our children school fees and buy uniforms,” said Chikakuda.
She further said through the foundation the women have also learned commercial farming as they previously never took farming as a business and also they have learned the saving culture.
The MicroLoan Foundation aims at reducing poverty and inequality by providing microfinance services to impoverished women living in remote rural areas in Sub-Saharan African countries.
The foundation started its work in Malawi in 2002 in Nkhota-kota and has expanded over the years in almost every district within the country.
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