MUBAS and NEEF join forces to foster entrepreneurship

News   Lucy Isaac   November 10, 2023
PIC: MUBAS' DVC Prof. Kosamu and NEEF CEO Humphrey Mdyetseni
The Malawi University of Business and Applied Sciences (MUBAS) has signed a memorandum of understanding with the National Economic Empowerment Fund Limited (NEEF) to enhance entrepreneurial skills among MUBAS graduates. The ceremony took place at NEEF offices in Lilongwe on October 25, 2023.

During the ceremony, the Deputy Vice Chancellor of MUBAS, Professor Ishmael Kosamu, said the partnership will bolster entrepreneurship skills among MUBAS graduates who may not find employment but have promising business ideas.

''The availability of job opportunities is decreasing, and industries cannot absorb all the graduates. However, by fostering entrepreneurship, graduates can start their own businesses and employ others and that’s the direction we need to take as a country, '' Professor Kosamu said.

Kosamu further said the collaboration will also help in addressing some of the societal challenges and contribute to Malawi's 2063 agenda, which emphasizes on entrepreneurship. 

''MUBAS is producing innovative and creative graduates by providing a curriculum that reflects entrepreneurship and we believe the knowledge will help in solving the challenges the country is facing,’ ‘said Kosamu.

The Chief Executive Officer for NEEF, Mr. Humphrey Mdyetseni said NEEF is committed to support fresh MUBAS graduates who have passion for entrepreneurship by providing them with loans.

"We cannot talk of decisive action to develop the country via socio-economic growth if we remain relaxed about our graduates who are continuously lamenting the shortage of formal employment. NEEF is going to help these graduands with loans'' Mdyetseni declared.  

Mdyetseni also said NEEF will offer internships to MUBAS students. 

"We intend to offer internships to some students from MUBAS to be placed in our various establishments as loan officers soon, " said Mdyetseni. 

Under the agreement, MUBAS fresh graduates with viable business ideas will access loans from NEEF. The two institutions will also collaborate in areas of research and innovation.

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