By Mabuchi Chunga

Small and Medium Enterprises (SMEs) have failed to reach 45% of their business targets due to the current political impasse.

National Association of Small and Medium Enterprises (NASME) national director William Mwale said the country has lost out on major business deals.

Mwale said the development has made most businesses to not hit their intended business targets as the progress of trade has been slow.

“Many people have not hit their targets and they wanted to recover from the losses that they made during the lead period which is from December to May and when the period starts which is marketing season they expect to make more money,” he said.

Mwale said there is a slowdown of economic activities in the wake of the May 21 tripartite elections.

Malawi Congress Party (MCP) president Lazarus Chakwera and compatriot UTM president Saulos Chilima are currently contesting the May 21 presidential election results in court by claiming that the election was rigged.

The situation has led to mass demonstrations calling for the resignation of Malawi Electoral Commission (MEC) chairperson Jane Ansah.