National Bank of Malawi plc says it is committed to providing training in business management and banking discipline to promote entrepreneurship among the youth.
The CEO Mcfussy Kawawa made the commitment in Blantyre when the Malawi Stock Exchange ( MSE) listed bank held a youth entrepreneurs training and interaction under the theme ‘’ nurturing the youth through smart collaboration with NBM.’’
He said 80 percent of the population is below 35 years and is lacking basic opportunities to develop potential while commercial banks have concentrated the remaining 20 percent which is denominated by the corporate customers and established businesses.
“National Bank in recent years has shifted its attention to the 80percent youthful population because it realizes that the future of this country lies in segment market.’’
“Our objective therefore is to deepen our business relationship with the youth entrepreneurs” He said.
Kawawa said lack of knowledge to present business ideas to banks is also one of the impediments to youth entrepreneurs
One of the participants, Roy Khuoge, founder of Lael Investments, a Transport firm, said the youth entrepreneurs find it difficult to access finance as most of them do not have collateral