Malawi launches US$18.7m business project

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Malawi launches US$18.7m business project

Malawi, on Monday, 13 October launched the Business Environment Strengthening Technical Assistance Project (BESTAP) worth US$18.7m, in order to help growth within the country's private sector.

Minister of Industry and Trade Henry Mussa said the government of Malawi has realised that the private sector plays a big role in the socio-economic development of the country.

“This is why government through the Ministry of Industry and Trade has taken a leading role in the development of policy and institutional framework for private sector development as well as some of the identified constraints that deter its development, growth and rebranding,” he said.

The project is receiving funding in the form of grants from the International Development Association (IDA) of the World Bank and European Commission.

In order to achieve the objectives, Mussa explained that within the project they have set up the Business Growth Scheme (BUGS) with the specified objective of facilitating the maximum possible growth in private sector economic activity by offering direct technical assistance and matching grant assistance to individual private firms in Malawi.

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ABOUT THE AUTHOR

Gregory Gondwe is a Malawian journalist who has bagged close to fifteen years of working experience who started writing in 1993. He is currently regional editor and bureau chief for Zodiak Broadcasting Station (ZBS). Gregory is also a media consultant assisting several international journalists pursuing assignments in Malawi. He holds a Diploma of Journalism and an Intermediate Certificate in Journalism among other media-related certificates. He can be contacted on gregorygondwe@gmail.com.

[17 Oct 2008 11:04]