In a bold move to empower Small and Medium Enterprises (SMEs) during economic uncertainties, Business Partners International (BPI), a fund manager that provides debt equity financing, has assured of its commitment to providing financial assistance and mentorship programs.
Amid rising inflation, depreciating kwacha, and global economic shocks, BPI has assured SMEs in the country of its commitment to offering affordable loans for their operations and helping them to thrive.
Speaking in an interview, BPI country manager, Bond Mtembezeka, acknowledged the challenges the country is facing due to economic shocks and emphasized the organization’s commitment to intensifying its efforts to support SMEs.
“SMEs play a pivotal role in fostering economic resilience and job creation. According to the World Bank, SMEs contribute up to 40% of GDP in emerging economies and account for the majority of new job opportunities. In Malawi, empowering SMEs is not just a business imperative; it is a national priority.”
“Malawi’s growing population and increasing urbanization are driving demand for goods and services. Sectors such as agriculture, construction, retail, and renewable energy offer significant growth potential.”
“To seize these opportunities, SMEs need tailored financial solutions and robust advisory support, hence the need to equip entrepreneurs with tools and knowledge for them to make informed decisions, navigate challenges, and achieve their business,” explained Mtembezeka.
Mtembezeka further recognised the significant role played by the enterprises in the country, highlighting their contribution to economic growth, job creation, and social development, hence the need for support as they have the potential to drive economic development.
“We are committed to empowering SMEs in Malawi to thrive; hence we provide flexible business loans that enable them to purchase equipment, access working capital, or acquire and construct commercial property like office complexes, retail malls and filling stations.”
“Over the years, Business Partners International has supported numerous SMEs across Malawi, enabling them to grow and contribute to the economy. From businesses investing in office and business premises to construction firms acquiring automated block-making machines, our financing solutions have catalyzed transformative change. These success stories highlight the potential of SMEs to drive economic development when equipped with the right resources and support,” said Mtembezeka.
While the organization is ready to help turn visions into reality and make an impact on Malawi’s economy, SMEs who are looking for funding and technical assistance are encouraged to reach out to BPI and apply..
“Business Partners International recognizes that access to capital is only one piece of the puzzle. Many SMEs face challenges related to financial management, strategic planning, and operational efficiency. That is why it complements its financing solutions with comprehensive Technical Assistance.”
“Our team of experienced mentors provides guidance on financial planning and management, market analysis and strategy, operational efficiency, risk management. Through these services, Business Partners International equips entrepreneurs with the tools and knowledge they need to make informed decisions, navigate challenges, and achieve their business goals,” he said.
Mtembezeka appealed to SMEs to reach BPI at their offices at Industrix Complex, Kidney Crescent, Kristwick in Blantyre or email them at enquiries@businesspartners.mw or visiting their website www.businesspartners.mw.