Sep 24, 2017 Last Updated 10:33 AM, Sep 22, 2017
×

Warning

JFile: :read: Unable to open file:

Malawi’s MHub Extends Period For Entrepreneurship Challenge

MHub nurtures emerging innovators and entrepreneurs to build sustainable business solutions MHub nurtures emerging innovators and entrepreneurs to build sustainable business solutions Image sourced at twitter.com
Published in Business News
Read 4735 times
Rate this item
(0 votes)

MHub together with Her Liberty have extended their entrepreneurship challenge in which six young entrepreneurs in Malawi is expected to win MK20 million.

The two month extension is meant to give a chance for more young people to apply with their bankable business ideas.

Dubbed the “What Will Do with K20 Million Challenge”, the competition seeks to apply innovation and entrepreneurship as a catalyst for socio-economic development, job creation and youth empowerment.

MHub Chief Executive Officer, Rachel Sibande disclosed that seeks to identify and support innovative local business ideas that can create social impact in communities and foster job creation.

The challenge started in March 2017 and will receive applications up to 31st July 2017. 

“The overall objective of the challenge is to enable entrepreneurs in Malawi to be key drivers of the economy. Through the contest, young small and medium enterprises stand a chance to boost their capital with a total of MK20 million and enhance their knowledge in business and financial management through an intensive one week training for the winners,” Sibande said.

According to the CEO, the criteria for the winning entrepreneurship pitches includes business concept, strategy, value proposition, quality of the product, financial soundness and social returns. 

Sibande further stated that the “What Will Do with K20 Million Challenge” was designed to respond to the problem of unemployment and poverty which Malawi’s youthful population is grappling with.

Currently, 80% of Malawi’s over 17 million population is made up of young people below 35 years of age.

According to the National Statistical Labour Force, the rate of unemployment hovers at 21 percent and affects this youth population the most.

The challenge received support from Standard Bank which has pledged to invest MK10 million (U$14,000) as seed capital to kick-start the challenge.

The MK20 million seed capital is to kick-start six business ideas from young entrepreneurs who will emerge winners at the challenge.

MHub is Malawi’s first innovation hub and incubator for emerging entrepreneurs.

The hub nurtures emerging innovators and entrepreneurs to build sustainable business solutions.

Her Liberty is an organisation that works to empower and mentor socially disadvantaged girls and women.

It aims to equip and train them to be self-reliant and economically independent.

Her Liberty works with a bigger regional network on youth-related issues pertaining to youth development and entrepreneurship under a network called AfriYAN (African Youth and Adolescent Network).

821 comments

  • Comment Link Robin Robin Thursday, 21 September 2017 06:12

    Hi! I'm at work surfing around your blog from my new apple iphone!

    Just wanted to say I love reading through your blog and look forward to all your posts!
    Carry on the excellent work!

  • Comment Link SimonOrink SimonOrink Thursday, 21 September 2017 03:53

    drugs canada
    getcanadiandrugs.com

    canadian drug .com
    [url=http://canadianpharmacyinlinestore.com/]cialis/canadian pharmacy[/url]

  • Comment Link Agustinetemo Agustinetemo Thursday, 21 September 2017 01:36

    mattress firm online delivery tracking buy mattresses online cheap [url=http://topmattressreviews.org/]top 10 mattress 2016[/url] top rated mattresses 2016
    serta mattress firmness scale firm mattress topper for sale [url=http://innovasaber.com/]best mattresses for 2015[/url] mattress firm payment synchrony
    casper mattress reviews 2015 twin mattress sale clearance [url=http://bestmattressreviewsandratings.com/]consumer reports best mattress 2017[/url] best memory foam mattresses 2015

    best mattresses for 2016 beautyrest mattress reviews 2016 cheap mattresses oklahoma city cheap mattresses in atlanta
    mattress sizes inches mattress stores in palm springs ca mattresses paso robles ca best mattress stores in new jersey
    size king mattress inches mattresses online only king size mattress dimensions depth best mattresses 2017 for couples

  • Comment Link Sharon Sharon Wednesday, 20 September 2017 23:09

    If some one desires to be updated with newest technologies after that
    he must be go to see this site and be up to date every day.

  • Comment Link ScottUnila ScottUnila Wednesday, 20 September 2017 22:58

    much per viagra pill
    viagra without a doctor prescription
    photos of generic viagra
    [url=http://dyviagrahwithoutbdoctorklprescription.com/#]viagra without prescription[/url]
    use sildenafil citrate 100mg

Leave a comment

Make sure you enter the (*) required information where indicated.Basic HTML code is allowed.

Capital Tweets

Any data to display

Find Us on Facebook