Umodzi Consulting, a local capacity building firm, has urged businesses to maximise exportation of goods and services to manage the impact of the devaluation of the kwacha.
Umodzi managing consultant Tione Kaonga said this at a business coffee morning held in Blantyre on Wednesday.
He noted that economic challenges that have hit the country have resulted in low growth rates in construction, manufacturing, transport and other sectors.
â€œThe aim of this event was to bring together Malawians and strategise how we can boost export to end foreign exchange shortages the country has been facing. The challenge has crippled our economy in term of production in such sectors as agriculture, construction and other,â€ said Kaonga.
He said the firm is ready to provide management consulting services to companies to export maximise exportation of goods and services.
Umodzi, with funding from the Scottish Government, helps small and medium enterprises (SMEs), commercial banks and investors to come up with strategic plans and help improve their services.
Angela Nazombe, one of the participants from Angel Wings Commodity Traders, said the tips she got will to boost her business.