An organization working in the SADC region, Africa Trust Group (ATG), has partnered Enygma Ventures to financially support Malawian women who have existing businesses and those with business ideas.
This is according to Lelemba Phiri founder of the ATG which is an operating partner of Enygma Ventures which focuses on bridging the gender gap in access to finance for early-stage women entrepreneurs in the SADC region.
In an interview, Phiri told Malawi24 that they thought of extending their operations in Malawi because they have seen several women entrepreneurs that are already working hard to finding solutions to tough challenges through business.
She, however, said that regionally, women still have less access to funding a development which she said has resulted into losing of up to $95billion in productivity every year just because women are not fully included in economic activities.
The organization has since encouraged women in the country to join government on economic recovery and growth by becoming serious entrepreneurs through their scholarships to business development programs and funds.
Phiri further said Malawian women entrepreneurs who have good business ideas but lack capital and those with existing businesses need to apply for funding.
“So Malawian women should expect total support from the time they have a business idea to making that idea reality. We want to walk the whole journey with women entrepreneurs so we don’t just give them money and say “make a plan”. We work hand in hand to supporting their success.
“We have a lot of funding so there’s no limit on the numbers of applicants. Both aspiring and existing women entrepreneurs can apply for this opportunity by going to www.enygmaventures.com but applications will be open again in March this year,” said Phiri.
She added that they believe that the world of investment finance has to be re-imagined globally and that they plan to empower women to help level the playing field, drive progressive change, whilst still delivering outstanding outcomes.
The ATG founder continued to say women have also been found to perform better in business during crisis so there’s no better time than now to support them to thrive when the global has been hit by COVID-19 pandemic.
Phiri further noted that Malawi’s economies need serious entrepreneurship to recover post pandemic and said they want to contribute to ensuring that women entrepreneurs can be part of the solutions needed for economic recovery and growth.