The National Small and Medium Enterprises (Nasme) proposed  a K5 billion bail-out package for small and medium enterprises (SMEs) as a cushion against the impacts of the coronavirus (Covid-19) pandemic.

Initially, the government had already considered SMEs by issuing a three-month Covid-19 moratorium for them, through the Reserve Bank of Malawi. However Nasme national coordinator William Mwale, said that not all SMEs can benefit from the initiative.

“We are saying that due to unnecessary delays that happen at the institution in disbursement of funds, we requested that we be allocated K5 billion so that we manage it ourselves through our fund and pay them back later.” he said. On the other hand, figures from the Ministry of Industry, Trade and Tourism show that the country has about 987 000 SMEs but 98% are not registered and may not benefit from the funds.