Nonprofit making groups, which displayed pavilions at the launch of the National Youth Policy in Lilongwe on Tuesday commended President Dr Lazarus McCarthy Chakwera’s administration for improving power supply, saying this is key to the growth of micro, small and medium enterprises in Malawi.
Some of the groups that mounted their pavilions at the event are Point of Progress and Community Savings and Investment Promotion? Comsip), which are promoting SMEs as a pathway to graduate from ultra-poverty.
President Chakwera and First Lady Monica Chakwera appreciate products made by young entrepreneurs–Photo by Govati Nyirenda, State House
The groups said they were excited with the reliable power supply, expressing optimism that this will boost their business.
Meanwhile, Electricity Supply Corporation of Malawi (ESCOM) says it expects Malawians to start to enjoy improved electricity services now that the company is posting profits from a long history of making losses.
Young entrepreneurs showcasing some of their products–Photo by Govati Nyirenda, State House
Escom Chief Executive Officer Kamkwamba Kumwenda says for the past two financial years, ESCOM has posted K8 billion and K22 billion in profits respectively, which he said has enabled the corporation to clear out some connection works which were outstanding.
He was speaking in an interview with Times 360 Malawi when the company awarded four Mangochi based Linesmen whose video where they were putting out fire on an electric power line went viral on social media last week.
Kumwenda invited the general public to join Escom in fighting vandalism, which he said is costing the company a lot of money.
