Leaders for the country’s small and medium enterprises have commended Pacific Limited for its property development projects, saying the investment is easing a long-standing shortage of affordable and secure business space.
General Secretary of the Small Scale Business Operators Association of Malawi, Tennyson Mulimbula,said the initiative has reduced space constraints that have crippled SME operations mainly in commercial city of Blantyre.
“We commend Pacific Limited for this initiative. Space constraints have often resulted in losses for the SMEs due to spoiled produce, customer distrust among other factors,” Mulimbula said.
He added that the association records show many SMEs still lack secure trading spaces, and urged the company to expand the initiative to Lilongwe and Mzuzu.
James Chiutsi, President of the Malawi Union of Small and Medium Enterprises, said limited space prevents many vendors from obtaining certification from the Malawi Bureau of Standards and from accessing loans for growth.
“The challenge has also seen Small and Medium Entrepreneurs failing to obtain loans to scale up their businesses,” Chiutsi said.
He further noted that shop spaces in prime locations remain expensive and are often occupied by foreign-owned businesses, limiting opportunities for Malawian traders.
Pacific Limited Managing Director, Faisal Aboo said the company launched the initiative in 2015 to meet growing demand for modern business and office facilities in Blantyre.
“For us, modern business and office space is a catalyst for the growth of Small and Medium Entrepreneurs in the country, which is the engine for Malawi’s development,” Aboo said.
He added that the company will consider requests to expand to other cities.
He however called for tax relief on construction materials, noting that about 60% of construction costs in Malawi go toward taxes.
In September last year, the company opened the K30 billion, 6-storey Pacific Towers commercial complex in Limbe, with capacity for over 900 rooms.
Beyond commercial and office developments, Pacific Limited has also been constructing student hostels for Malawi’s higher learning institutions to help close infrastructure gaps in the education sector.
