Business
Govt. plans SMEs bail out
November 15, 2020 / Noel Mkwaila
Barely two weeks after the Indigenous Business Persons Association of Malawi (IBAM) called on the State to support Small and Medium Enterprises (SMEs) affected by Covid-19, Minister of Industries Roy Kachale says government is monitoring the situation and geared to offer different rescue interventions.
In the wake of a steady drop in the number of Covid-19 positive cases, IBAM challenged government to inject stimulus financial packages to resuscitate struggling businesses that have the capacity to meaningfully contribute to the national economy once the pandemic is gone.
“We cannot specifically point at one area in the industry that has been negatively affected by the pandemic, but for sure SMEs have suffered a lot,” Kachale said.
He pointed out that access to finance and markets are major solutions towards the challenge being faced by the SMEs.
“Government is working hand in hand with development partners to bail out the country from the siege,” he said explaining that developing partners are willing to finance the survival of the country’s SMEs.
“Since the future looks brighter and that there is interest to support the industry, we need strict measures to ensure that the money is used for its intended purposes,” he said.
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Rehabilitation:
The establishment of a stable and self-sustaining ecosystem, but not necessarily the one that existed before mining began. In many cases, complete restoration may be impossible, but successful remediation, reclamation, and rehabilitation can result in the timely establishment of a functional ecosystem.
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Remediation:
The cleanup of the contaminated area to safe levels by removing or isolating contaminants. At mine sites, remediation often consists of isolating contaminated material in pre-existing tailings storage facilities, capping tailings and waste rock stockpiles with clean topsoil, and collecting and treating any contaminated mine water if necessary.
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