The Malawi government through the Ministry of Industry and Trade will this week roll out a new SME financing facility that will leverage small enterprises and link them to large enterprises.

The fund, is to be called Business Linkages Matching Fund (BLMF), and will be supported by the African Development Bank (AfDB) as a component of the Competitiveness and Job Creation Support Project the bank is bankrolling in the country.

“The BLMF is designed to link Micro, Small and Medium Enterprises (MSMEs) and cooperatives to large enterprises,” indicated a press released signed by Principal Secretary in the Ministry of Industry and Trade, Randson Mwadiwa.

It said the objective of the Fund is to reduce poverty in Malawi through sustainable pro-poor economic growth and improved socio-economic development led by the private sector.

The facility is also expected to improve the capabilities and the competitiveness of the private sector as well as increasing economic diversification and job creation.

The Competitiveness and Job Creation Support Project was rolled out some years ago with an objective to reduce poverty through job creating entrepreneurship with thousands of jobs expected to be created.