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Export Credit Financing promotes trade and investment- Chithyola [Video]

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Small Business Funding Small Business Growth Small Business Lifestyle

by Mike Van Kamande

Minister of Trade and Industry Simplex Chithyola-Banda says apart from promoting trade and investment Export Credit Financing (ECF) is an essential tool for boosting exports facilitation.

Speaking in Lilongwe on Monday when he opened a three-day ECF training Chithyola-Banda said the facility augers well with government’s vision of creating an inclusively wealthy and self-reliant export-led industrialized upper middle income country by 2063.

“Many countries including Malawi have rich natural resources that hold potential for increased export activity but often lack the financial resources or innovative financial instruments to fully exploit them to our economic advantage.

“For instance recently operationalized African Continent Free Trade Area (AfCFTA) Agreement opened up vast regional trade opportunities creating a unified market with over 1.2 billion people and a gross domestic product (GDP) of $2.5 trillion. However, for businesses within SADC Region to exploit such opportunities there is need for access to finance to bring goods …

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