By Jones Gadama
The National Youth Council of Malawi is gearing up to ensure that young beneficiaries of the National Youth Innovations Fund make the most out of the financial support they’re about to receive.
According to Rex Chapota, the Council’s Executive director ,this initiative was highlighted during a local training session in Blantyre aimed at equipping these young innovators with practical skills to maximize their gains.
The National Youth Innovations Fund is a government-backed program designed to provide financial grants ranging from K10 million to K30 million to each beneficiary. The amount awarded is determined by the individual’s skills and the nature of their projects.
In the first phase of this initiative, the government has allocated a substantial K2 billion to support these young entrepreneurs.
One of the beneficiaries, Frankson Wiskes, who leads Mudyo Food Processors and Suppliers in Zomba, expressed his enthusiasm about the fund. He stated that the injection of these funds will significantly boost his company’s operations.
This sentiment underscores the potential impact of the National Youth Innovations Fund in fostering youth-led entrepreneurship and economic growth in Malawi.
The National Youth Council of Malawi, which is implementing this fund, has a broader vision of empowering young people to drive socio-economic development in the country.
This aligns with the government’s efforts to prioritize youth empowerment and innovation as key pillars of Malawi’s development agenda.
Through initiatives like the National Youth Innovations Fund, the government aims to address critical challenges such as access to finance, which has been a major hurdle for young entrepreneurs.
By providing tailored financial support and capacity-building training, the National Youth Council of Malawi is creating opportunities for young people to turn their innovative ideas into successful businesses.
