Zomba-based Centre for Free Market Enterprise (CFME) has wooed youths in the country, especially those currently undergoing university education, to consider embracing an entrepreneurship culture and values if the country is to generate more foreign exchange and consequently develop economically.
CFME’s executive director Peter Yakobe told Business News in an interview recently that the centre has noted with concern that a lot of youths continue seeking white collar jobs after finishing their university education while shunning entrepreneurship.
Yakobe, whose institution has been holding youth entrepreneurship fairs, also said it was sad to note that the few youths that have ventured into entrepreneurship are running various businesses without proper entrepreneurship skills.
“We are now moving into rural communities to open up entrepreneurship clubs, train them on how to start small businesses and how to manage their finances so that they can operate their businesses successfully,” he said.
Since its inception seven months ago, Yakobe said the centre has established two entrepreneurship clubs — one in Phalombe and the other in Zomba — and he was optimistic they would cover the whole country soon.
He said the centre believes that through entrepreneurship, Malawi is capable of creating more jobs, creating value for goods and services produced for export, hence earning more foreign currency into the country.
On government policies regarding entrepreneurship, Yakobe said there is room for government improvement in terms of growing more youths into entrepreneurship.
Yakobe cited a backlog of export license applications by most youths at government agencies as one limiting factor to ensure more youths embrace entrepreneurship.
Commenting on the entrepreneurship fairs, Yakobe said the aim is to instil free market principles and entrepreneurship in the lives of young people in Malawi.
During the fairs, there are entrepreneurship talks, exhibitions, mentorship, networking and formation of youth entrepreneurship group, according to Yakobe.
The mission of CFME, according to Yakobe, is to originate and promote policy proposals at all levels of government, media, and business community of Malawi, based on the principles of a free economy and a tolerant society.