FDH Bank launches Start-up programme for college students

FDH Bank Plc has unveiled its collaborative initiative with the Malawi University of Business and Applied Sciences (MUBAS) aimed at nurturing entrepreneurial spirit among students.

Dubbed the FDH Bank and MUBAS Start-up Programme, the initiative is seeking to provide aspiring students entrepreneurs with the necessary support to transform their innovative ideas into thriving businesses including guidance on business management, internship and grant opportunities.

Speaking during the launch in Blantyre on Tuesday, the bank’s deputy managing director George Chitera emphasized the importance of encouraging the youth to venture into entrepreneurship.

“Instead of solely focusing on seeking employment, we are challenging the youth to think of ideas that can sustain them and create jobs for themselves.

“One of the challenges we have noted is the lack of capital, so, as a bank, we are committed to supporting the youths in this space as we have the capacity.

“We are willing to support five companies annually, acknowledging that it is a long process. Let’s alleviate congestion from the job market,” he said.

Speaking on the collaboration, vice chancellor Nancy Chitera underscored the multifaceted benefits the partnership brings.

“There are many benefits, including staff externship between FDH and MUBAS which will help us to tutor students with workable concepts applicable on the ground.

“Furthermore, we have established an entrepreneurship center under the department of research and innovation, aimed at changing the mindset of both our students and staff to realize the capacity for self-employment and job creation.”

On her part, Cynthia Maele, a beneficiary of the programme, expressed her gratitude for the transformative impact it had on her life having received startup capital worth K45 million from the high-street bank in 2022 to establish Rise and Shine Private Primary School in Mulanje along with her friends.

“With their financial backing and guidance, we were able to establish Rise and Shine Private Primary School, providing quality education to children in our community. This initiative did not only empower us as entrepreneurs, but it also contributed to the social development of our locality,” said Maele.

Aside from mentoring and training, FDH Bank has pledged financial support to fuel the ideas of aspiring student entrepreneurs.