By Thomas Chilaya:
Local business start-ups, micro, small, medium enterprises (MSMEs) and large scape operators stand a chance of securing a matching grant of up to $50,000 to boost their businesses under the World Bank-funded Southern Africa Trade and Connectivity Project (SATCP).
The World Bank pumped $6m into the project to be disbursed to businesses with impressive proposals.
It targets support in the value chains of soya, sunflower, rice, pigeon peas, pineapples, groundnuts, cassava, Irish potatoes, beans, sweet potatoes and poultry and targets businesses that are operating in Malawi districts that are in Nacala and Beira corridors.
It is designed to empower traders and enable growth by supporting ambitious businesses in driving trade, innovation and economic growth.
In January, SATCP called for concept notes for matching grants and proposals, which got an impressive response, according to a statement issued last week.
“The World Bank is funding $6m to be disbursed to successful business proposals. For the Business Plan Competition, the minimum accessible is $5,000 and the maximum is $25,000 whereas the minimum for matching grants Project is $50,000 and the maximum is $500,000,” the statement reads.
Meanwhile, the implementing agency, the Ministry of Trade and Industry, has set up evaluation committees to commence the evaluation of the proposals and concept notes.
The four-stage evaluation process will have the applications subjected to an ad hoc committee that will assess eligibility.
The eligible proposals will go through the second evaluation stage by a technical committee whose focus will be on technical issues relating to the proposal and, finally, the investment evaluation process will take place.
