BISC disburses K32.7m to entrepreneurs

BY WATIPASO MZUNGU JNR

Over 151 small and medium entrepreneurs from Blantyre have benefitted from the Project Malawi’s Business Information and Service Centre (Bisc) loan scheme, its coordinator Francis Saka said Tuesday.

Saka explained that the loans were meant to augment working capital (raw materials and stocks) and finance capital expenditure (purchase of equipment).

“The loan is meant to assist the businesses take advantage of an opportunity in the market or have the business jump from stagnation due to lack of capital equipment or inadequate working capital,” he said.

According to Saka, the loans ranged from K20, 000 to K1, 500, 000 per entrepreneur and entrepreneurs in various trades such as welding and fabrication, carpentry, knitting, trading, cane furniture production, poultry and piggery received the loans.

“We’re currently processing first loans for Lilongwe and Balaka and soon distribution will start,” Saka disclosed.

Bisc is an urban and peri-urban non-profit making initiative by Project Malawi, which provides training to entrepreneurs and also assists the same in making decisions such as in investment, marketing and credit financing.

END