Entrepreneurs anticipate sustained stable economy
Some entrepreneurs in Lilongwe say they are anticipating sustained stable business operating environment in the economy.
Briefing the media in Lilongwe on Wednesday, the entrepreneurs said recent economic trends in the country have proved to be more advantageous to businesses in terms of planning for short to medium-term operations.
Grant Gambatula Chikweza, owner of GIMM Holdings Limited, speaking on behalf of fellow entrepreneurs, said government has in the past five years laid a strong economic foundation that businesses have tapped into for their own growth.
“As businesses, we have a lot of expectations in the next five years. But suffice to acknowledge the fact that government has put in place a strong economic foundation and it is up to us businesses to build a house,” he said.
Interest rates, which at some point soared to a record high of 47 percent, have eased to around 14 percent following successive cuts in policy rate, the rate at which commercial banks borrow money from the central bank.
On one hand, average prices for basic goods and services have been increasing marginally, culminating into single-digit inflation rate buoyed by falling food inflation.
Chikweza said it was important for business operators to move on and create wealth in the aftermath of the May 21 Tripartite elections adding it is incumbent upon us entrepreneurs pull up our socks and respond favourably to the prevailing conducive macroeconomic environment.
