Government, through the National Youth Council of Malawi (NYCOM), has awarded grants to 150 local entrepreneurs and innovators in a bid to promote the growth of the country’s economy.
The grants, disbursed under the Youth Innovation Fund initiative seek to promote and support youth-driven economic initiatives across the country.
Executive Director for NYCOM Rex Chapota has indicated that through the grants, the council hopes to see awardees scale up production of goods that are capable of competing on both local and international markets.
“So, these grants are aimed at accelerating the productive capacity of young people within the government’s priority sectors which are Agriculture, Tourism, Mining and Manufacturing,” he said.
Out of the 150 total successful innovators, 85 have already started receiving training in preparation for implementation of various initiatives in line with the proposals they submitted.
“These innovators have been grouped into 3 groups with some getting a grant of K1 million while others are getting K15 million,” said Chapota.
Meanwhile, NYCOM has on Monday started conducting a five-day comprehensive capacity building programme for successful awardees in Blantyre.
One of the beneficiaries, Edward Chidombe Msiska whose social enterprise, Green Innovation Hub, has received a grant of K15 million thanked NYCOM for giving him an opportunity to thrive.
“We are incredibly honoured and excited about this opportunity because through this grant, we are going to scale up production of eco-friendly farm inputs, including our reliable Kolora Organic Fertiliser,” said Msiska.
A total of K2 billion has been disbursed under the fund which was launched few weeks ago by President Dr Lazarus Chakwera.
