Youth Participation in the introduction of small and medium scale businesses is said to offer Malawi a chance to deal with high levels of youth unemployment currently rocking the country.
Executive Director for Centre for Free Market Enterprise (CFME), Peter Yakobe said Malawi has made great strides for the past 4 years saying micro-businesses have scaled-up and they have registered growth.
“The development of micro-business the past 3 or 4 years has been really good we has seen young people have started their own business and a lot of businesses growing,” he said.
However, Yakobe has called for stakeholders to offer a conducive business environment for the youth entrepreneurs.
He said Malawi is failing to register tremendous progress due to poor economic policies like high taxes which hinders young people to establish businesses.
“We need to improve some areas for instance interest rates in the banks are high, high taxes and there are a few organization who provide credit facilities to the youth this has left a lot of young entrepreneurs not to access the market,” Yakobe said.