THE LACK of financial support continues to deter many young people in Malawi from realising their dream of venturing into entrepreneurship so as to attain economic independence.
A classic example is that of Hawa Banda, a fresh graduate from the Lilongwe University of Agriculture and Natural Resources, LUANAR.
She holds a BSc in Animal Science.
The young lady embarked into poultry business in January this year and she is doing her enterprise at Chilinde in Lilongwe. Her business is, however, failing to grow as she doesn’t have enough financial resources.
Banda raised a startup capital from her previous job with the National Registration Bureau, NRB, as a Registration Officer.
She is currently unemployed making it difficult for her to recapitalise her business.
Malawi has one of the highest interest rates on the continent. This is coupled by stringent conditions attached to loans by money lending institutions.
This, however, is not deterring Banda from pursuing her ambitious plan of owning a large scale country farm in a few years’ time
As at present she is rearing 35 hens and 10 cocks. Some are still small while others have begun laying eggs.
She hopes her bold move will inspire other young people to venture into business.
Many youth in Malawi look forward to getting employment after graduating from college.
This poses a huge challenge as the country’s job market does not have many opportunities to absorb the increasing never of job seekers.