BRINGING SMEs TO THE NEXT LEVEL.
Small and Medium Enterprises Development Institute (SMEDI) on 8th March, 2022, hosted the Best SME Award Cheque Presentation at the Golden Peacock Hotel, in Lilongwe-Malawi. The function was patronized by the Minister of Trade and Industry-Hon. Mark Katsonga Phiri, MP.
The Best SMEDI SME Award was organized to recognize Malawi’s leading Small and Medium Enterprises (SMEs) across major trade and industries that are contributing significantly to Malawi's economy. SMEDI continues to recognize Malawi SMEs that have been developed and managed effectively, honoring leading businesses that have proven its success within the related business industries and sectors.
The Best SME Award also serves as a prestige recognition for SMEDI partners that contributed greatly that enabled SMEDI facilitate the Buyer-Seller Symposium which was held in Lilongwe at GAME Stores Complex in December, 2021. Through nominations and recommendations of Judges, a panel assessed and qualified 4 credible SMEs to be awarded the Best SME Awards in this order:
1st Position : K700,000.00 – Jescal Enterprises
2nd Position : K500,000.00 – Usingini Coffee
3rd Position : K300,000.00 – Thanthwe Farms
4th Position : K250,000.00 – Red Cube
In his speech, the Minister Hon. Katsonga Phiri, said; widely known in the business scene, achieving the remarkable Best SME Award is an endorsement towards the business's success and is certainly a significant milestone towards the business's position within the industry. The Award will also serve as a yardstick where SMEs benchmark their business position and competitiveness against their competitors.
In his turn, the CEO of SMEDI, Mr. Rodrick Chattaika said that it is the wish of the Institution to make the Best SME Award as an annual event, which will provide a comprehensive ranking system of all award winners. The ranking system will be derived based on SME’s performance and market position, allowing SMEs to understand each position within the Malawi SME sector. He concluded that the Best SME Award recognizes their business qualities and standards, acting as a benchmark of their brand against local and international competitors.