Malawi’s Future Brighter with Private Sector Collaboration

The United Nations Development Program (UNDP) and the Norwegian Embassy to Malawi emphasize that investing in Malawi’s future relies heavily on collaboration with the private sector to support youth-led ventures.

This sentiment was echoed by UNDP Resident Representative, Fenella Frost and Norwegian Ambassador to Malawi, Ingrid Mikelsen, during the unveiling of 19 successful Growth Accelerator Malawi cohorts 7 and 8 business ventures in Lilongwe.

The Growth Accelerator initiative has been a game-changer, providing financial and technical assistance to emerging entrepreneurs to scale up their ventures.

Since its inception in 2018, over 60 ventures have benefited from the program. The latest cohorts, 7 and 8, are expected to create over 300 jobs, thanks to a $2.5 million grant (approximately K6 billion).

These businesses will empower local communities to boost agricultural productivity for export, contributing to import substitution.

Fenella Frost highlighted the program’s impact, citing the potential for job creation and community empowerment.

Ingrid Mikelsen expressed Norway’s satisfaction with the progress made by Malawian business ventures since 2018.

Mikelsen encouraged the ventures to leverage each other’s strengths to produce competitive products and create more jobs.

The Growth Accelerator Program has proven to be an effective instrument for stimulating private sector growth, innovation, and inclusivity in Malawi. With continued collaboration between the private sector and organizations like UNDP and the Norwegian Embassy, Malawi’s future looks brighter than ever.