Under the Memorandum of Understanding (MOU) between SMEDI and PIC, a one week training for a target of 200 SMEs was organized and facilitated at Mponela Enterprise Development Centre from 31st October 2022 to 4th November, 2022. The training aimed at equipping SMEs to have their products certified by MBS using SMEDI production facilities that are certified by MBS at Mponela.
The MOU between SMEDI and PIC targets to train 5,000 Entrepreneurs by taking them through the process of business registration with the Registrar General and Malawi Revenue Authority, and product certification by Malawi Bureau of Standards.
These are ongoing trainings which will be done in phases to reach the target of 5,000 SMEs. In the first phase, 70 women have been trained to be followed by a cohort of men. Other trainings will take place in the southern region at Phalombe SMEDI Enterprise Development Centre.
As a partner, SMEDI offered conference facilities free of charge and accommodation at subsidized rates. The identification of SMEs is done by PIC following the manufacturing training that was facilitated by BICC on 1st October, 2022.
Presentation from key partners and sponsors were made during the one week training. The key partners and sponsors were Malawi Planning Commission (MPC), Small and Enterprise Development Institute (SMEDI), Malawi Revenue Authority (MRA), Malawi Bureau of Standard (MBS), FDH Bank and Project Innovation Centre (PIC) itself.
When the 5,000 entrepreneurs have their products certified by MBS, having registered with the Registrar General and Malawi Revenue Authority, access to formal markets will be increased and with high demand for their products, financial support from FDH Bank and all others will easily be solicited.
High productivity of value added products by entrepreneurs and their easy access to markets will not only contribute positively to wealth and job creation but will also enhance import substitution and export promotion which are necessary for the economic growth of the nation.