Last Friday was the dinner and dance for accountants, organized by the Institute of Chartered Accountants in Malawi (Icam), where accountants were not only treated but encouraged by various speakers, notably Nico Holdings Managing Director Vizenge Kumwenda, who enlightened the accountants on a number of things.
Malawi has decried economic challenges such as high cost of capital and banks being tough on borrowing. Kumwenda stressed that the fault falls people who misuse capital for their own needs. “When you put Capital in a business, make sure that is for business; when you borrow money for business, do not borrow for consumption or for holiday”
That being said, he also urged accountants to be entrepreneurs, that just offering financial advice.