Officials at FDH Bank Plc. are vowing to boost start-up businesses owned by new graduates in a quest to widen job creation in the country.
Through the FDH Graduate Start-up Programme, the high street bank recently pumped in 45 million kwacha to help graduates at the Malawi University of Business and Applied Sciences – MUBAS.
During a symposium at MUBAS last year, the bank challenged students who were studying education to generate bankable business ideas as it would afterwards offer financial assistance.
Eight students teamed up and opened a primary school called Rise and Shine in Mulanje district.
The bank’s Deputy Managing Director George Chitera has expressed satisfaction with the level of determination shown some of the fresh graduates.
“This programme is under our sustainability pillar, which is aiming at empowering the youth, women and girls as well as the elderly,” Chitera said.
While revealing that Rise and Shine has already employed 20 people, one of the directors for the new school Cynthia Maele says they have a very big vision towards what they have ventured into.
“We want to provide quality education to everyone and we want to achieve a very big role. We have extracurricular activities at school which we believe will help the children as part of what they learn,” she hinted.
Meanwhile, MUBAS vice chancellor Nancy Chitera says, such innititives are in line with their innovation strategy.
“In our strategic plan we have a pillar of innovation and entrepreneurship which is encouraging students to not only think about employment, but rather create their own jobs,” she said
The graduates’ venture has since opening in October this year, enrolled over 50 learners and they are using the Malawi National Examinations Board – MANEB curriculum.
The move by the eight, with proper financing can be a way out for most products of local universities that are in education programs.
Most graduates from the education program, continue to add up to the list of trained teachers that are still waiting for the government to employ and post them to various secondary schools and other institutions of higher learning.
It is believed that financial support and empowerment, like the one provided by the high street Bank will go a long way in cutting back on unemployment in the country.