How foreign entrepreneurs are spuring domestic finance and economic activities in Malawi

 

Africa adoptability of information technological innovations is rising beyound expectation. Women entrepreneurs are not left out in this huge creative development from the tech world. However, creation of values through technological innovations are spurning good economic tangle to say, also opening up new frontiers in our various markets and monatery exchange channels which results are bringing new ways of doing things and making our young nation a digitalize one.

 

Diaspora entrepreneurs are venturing into African market, due to to technological innovations mass acceptance by entreprneurs and value creators. To be candid, the contributions of diasporas has go beyond financial investment. They encompass raising collective  remittances  to  support  philanthropic  activities  toward  technology  transfer, knowledge  exchange  and  improved  access  to  international  capital  markets.

 

Migrants can help to foster economic growth in their country of origin, by returning to their home country as entrepreneurs, or by funding investment, including start-ups. Inclusive innovations driving women’s business growth Inclusive  innovations  are  empowering  women  entrepreneurs  through  the  use  of  Information computer technologies   in combination with mobile phone ownership asbstated earlier.

As  a  result  of  investment  by  diaspora,  private  and  charity  organisations, informal women entrepreneurs are able to access business education, financial services, business networks  and  real-time  market  information,  all  of  which  are  otherwise  inaccessible  under Africa’s resource-constrained settings.

Women entrepreneurs who make use of such inclusive innovations benefit from new skills, business ideas and opportunities to reach customers and enter new markets. As a result, they increase the profitability of their businesses, invest in local job creation and improve the well-being of their families. The success of inclusive innovations for women entrepreneurs relies on two key factors:

(i) Partnering with local women’s businesses or youth associations for outreach

(ii) Practising inclusive strategies to ensure access and usage by women, especially for those that live in rural areas and are constrained by poor infrastructure, limited decision-making power, high transport costs and low English literacy skills. 

Grow Movement is one of the successful example, where use the of Information computer technologies is make to use in order to foster the business skills of African entrepreneurs in Malawi. The ideas works by matching consultants with entrepreneurs in Malawi to provide them with education on how to improve marketing, book keeping, financial planning and customer relations during free one-on-one sessions via Skype, WhatsApp or telephone.

In oder to reach women entrepreneurs, Grow Movement works in close partnership with the National Association of Business Women in Malawi (NABW). The Grow Movement is a UK-based private network of international volunteer business consultants.

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