MUBAS-FDH Bank Launch Graduate Startups Program

Article   Lucy Isaac   May 15, 2024
PIC: MUBAS Vice-Chancellor and FDH Bank Deputy Managing Director signing the MOU
The Malawi University of Business and Applied Sciences (MUBAS) has partnered with FDH Bank to roll out a graduate startup program that seeks to provide capital to MUBAS graduates who want to venture into entrepreneurship.

The Malawi University of Business and Applied Sciences (MUBAS) has partnered with FDH Bank to roll out a graduate startup program that seeks to provide capital to MUBAS graduates who want to venture into entrepreneurship.

The official launch of the program took place on 2 April 2024, at the MUBAS campus in Blantyre. Speaking during the ceremony, MUBAS Vice-Chancellor, Associate Professor Nancy Chitera, urged the students to utilize the opportunity availed through the start-up program to empower themselves economically and make meaningful contributions to our economy.

“As an entrepreneurial university, we would like to have several pathways for our innovators and entrepreneurs soon after graduating” Said Chitera. 

She mentioned that the university is focusing on innovation and entrepreneurship to align with Malawi’s 2063 vision, which aims to create a self-sufficient nation.

"Our nation has limited space to employ all our students. Through this particular program, the students will be able to create their jobs and gradually we can create a self-reliant nation and move towards the fulfilment of Malawi’s 2063 agenda", she said.

FDH Bank Deputy Managing Director, Mr. George Chitera, said the program comes in to alleviate employment challenges in the country. 

"Let’s take out this congestion from the job market where many people are scrambling for few employment opportunities and start now focusing on being employers rather than employees," said George Chitera.

"We encourage the students to come up with innovative business ideas," he added.

Esnart Sumphi, who together with her friends are the pioneer beneficiaries of the FDH Bank Graduate start-up program, said the capital injection they got from the bank enabled them to set up Rise and Shine Private Primary School in Mulanje which is thriving.

"We got capital from FDH Bank in 2022 and established a private primary school in Mulanje and through this business, we have given employment opportunities to people surrounding our school in Mulanje as well as ourselves,’’ said Sumphi.

She hailed FDH Bank for the initiative and said the program can help many graduates get economic empowerment. 

The programme which started in 2021 will be providing loans to fresh graduates at low interest rates. The graduates are supposed to form groups of between five to seven individuals and the loans will be given after a rigorous screening process to gauge the viability of the business venture. Training will also be provided to the beneficiaries before disbursement of funds. Apart from the graduate start-up program, FDH Bank will also be offering internships and externships to MUBAS students and staff respectively.

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