Africa-Press – Malawi. About six local companies have entered the Malawi Stock Exchange (MSE)’s Mzinga Incubation Programme with anticipation to list on the local bourse at the end of orientation, a brief programme report shows.
The six include Agro-Input Supplies Limited, Combine Cargo Limited, Nagowa Finance Limited, WealthNet Finance Public Limited Company, Ziweto Enterprises Limited and Unitech Technologies Limited.
Confirming the development, MSE Chief Operations Officer Kelline Kondowe said the market launched the incubation programme to build capacity of companies to enhance their readiness to list on the EDGEx platform.
“The programme will run for a period of 18 months in which the companies will be taken through various topics including matters of corporate governance, financial reporting, financing of a business, how to prepare for listing and how to prepare listing documentation, among others. The expectation is that at least two companies graduate to list on EDGEx at the end of the 18-month period.
“There were other companies that applied but did not go through. Some of the reasons were that some submitted applications with incomplete documentation while others did not meet the eligibility requirement stipulated,” Kondowe said.
In July last year, the MSE, with financial assistance from the Financial Inclusion and Entrepreneurship Scaling Project, launched the programme to provide handholding support to companies that would like to raise long-term capital through listing on the market.
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