Young entrepreneurs in the in Malwi have asked government to consider them with business grants over loans if their lives are to be transformed.
This has been revealed at this year’s Global Entrepreneurship Week in Malawi organised by Kukaya foundation at Dzuka Africa Startup hub in Blantyre.
One of the participant Fowzia Alibaba, owner of Foxys Kitchen said government should mostly focus on providing grants over loans if income generation activities are to be distributed evenly amongst young entrepreneurs.
Alibaba said: “Since most loan programs only reaches the ones who are close to the ruling elites, those with no connections cannot access them”.
Alibaba further said one of the greatest challenge that young entrepreneurs face is that loans acts more like a burden than a relief.
“Agrant can be better rather than taking a loan, someone just works hard to pay back the loan but at the end having a business which is not stable” She said.
22 young entrepreneurs participated at the Global Entrepreneurs Week this year.