Africa-Press – Malawi. One of the leading financial service provider, Pinnacle Financial Services has expressed concern over lack of adequate financial support for local Small Medium Enterprises (SME’s) and low income individuals from institutions saying the challenge is dwindling the growth of businesses in the country.
The company’s Chief Executive Officer, Douglas Kamwendo disclosed this in Blantyre when the company was celebrating and thanking its partners for the milestone achieved in a period of five years of its existence at the market.
In his remarks, Kamwendo admitted that the country is currently performing poorly in terms of providing financial support to SME’s, a thing which he said is making them (SME’s) to struggle in fulfilling their respective goals.
“It is very worrisome to see challenges our SME’s are going through because very few have access to financial support while majority of them despite running up and down seeking for support from various institutions nothing tangible is being yielded and as such, a lot has to be done because many of them have a good visions of taking a role in contributing to the economic growth of our nation.
“As a country we need to work on the existing gaps by making sure that SME’s and low income individuals are adequately served and as Pinnacle we’ll try our level best to contribute in creating a conducive environment for our SME’s and there is a need for all the financial institutions to work in collaborative effort if we are to transform the society,” said Kamwendo.
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