Entrepreneurs tipped on survival strategies

Reunion Insurance Company Limited chief executive officer Dorothy Chapeyama has challenged local entrepreneurs to be tactical in their business ventures by continuously improving service delivery and utilising available resources.

She said this in an interview on Wednesday in Blantyre on the sidelines of the launch of Old Mutual Malawi Suppliers Masterclass, an event that brought together local entrepreneurs who supply various goods and services to Old Mutual Malawi.

Chapeyama said one of the reasons entrepreneurs fail to succeed is that they easily give up and do not improve on service delivery.

“Quality service delivery is crucial for any business to succeed,” she said.

Chapeyama said for any business to remain afloat and competitive on the market, entrepreneurs need to re-strategise, understand their competition and ensure that they provide what the market is looking for.

She said: “Customer demands change over time. It is, therefore, important that businesses should always be on their toes to come up with products that satisfy customer needs.

“Entrepreneurs also need to embrace locally available materials for their business as these are cheaper.”

In her remarks, Old Mutual Malawi group chief executive officer Edith Jiya said the financial services provider is a business driven by the desire to remain a purposeful organisation; hence, the engagement which demonstrates the firm’s commitment to its suppliers.

“Our values guide our actions and behaviours in the manner in which we lead our people and deal with stakeholders, including our suppliers. We, therefore, hope to establish long-term and successful relationships with our stakeholders,” she said.

One of the suppliers, Mike Siliya, a trader in office furniture, described the platform as a unique opportunity to engage with Old Mutual.

“This is certainly commendable because by the end of the day, we will be able to offer the required services,” he said.