MALAWI MINISTRY OF INDUSTRY VISITS GROWTH ACCELERATOR BENEFICIARIES
Small and Medium Enterprises (SME) are the drivers of economies by creating stable employment and creating wealth. The world’s largest economies are propelled by the economic activities of many small businesses. Now more than ever, understanding the Malawian SME; their challenges and growth journey, plays a part in designing tailor-made and impactful support to facilitate the growth of SMEs in Malawi.
Two ventures in our 2019 Cohort: Kombeza Foods and Tehilah Bakery and Value Addition Center have recently made audience with the Minster of Industry to share about their entrepreneurial journey, shed light on industry challenges and share their progress since their involvement in the Growth Accelerator Malawi programme.
Honorable Roy Kachale Banda, Minister of Industry visited Kombeza Foods on Wednesday, 22nd July 2020. The Minister took at the Kombeza Foods factory and appreciated the new factory constructed from support from the Growth Accelerator Programme. Kombeza Foods is a dairy manufacturing company with a range of drinking and eating yoghurt. Since joining the Growth Accelerator programme in 2019, Kombeza Foods has; tripled its revenue, supports a value chain of 200+ low-income dairy farmers and has expanded to the supply the four major cities in Malawi.The Minister of Industry and Trade also visited Tehilah Bakery and Value Addition Center. Tehilah is an innovative bakery that produces bread from Vitamin A rich orange fleshed sweet potato (OFSP) and other confectioneries. Since joining the Growth Accelerator programme in 2019, the bakery boosts of doubling its revenue, an increase in production capacity and currently supports a value chain of 700+ low-income farmers.
Growth Accelerator is a 12-month business acceleration programme that supports innovative and impactful business to grow and scale. The programme supports entrepreneurs with co-financing of up to USD40,000; investment readiness business technical assistance and mentor matching. The programme has supported a total of 23 entrepreneurs who are actively participating in paving the path for growing entrepreneurs like themselves.