By Mabuchi Chunga

An economic commentator has reiterated the need for the government to encourage indigenous value addition businesses so that the country can take a positive step in eradicating poverty.

The Polytechnic economic lecture, Professor Betchani Tchereni, made the remarks in reaction to President Lazarus Chakwera’s State of National Address (SONA) which indicated that the growth of the country’s economy measured by the Gross Domestic Product (GDP) is projected to fall to 1.9 percent in 2020 from an initial estimated growth rate of 5.5 percent for the year compared to the 5.0 percent growth rate achieved in 2019.

Professor Tchereni said: “What we need to seriously look at as a nation is to incentivize value addition indigenous businesses if the country’s economy is to register a positive economic growth.”

He further expressed the need to empower indigenous people to run different businesses in order to reduce the existing poverty gap.

The expert added that the initiative of empowering more Malawians to operate businesses, will assist in job creation among Malawians a development which in turn will improve the country’s revenue generation.

In his SONA address, Chakwera contributed the country’s dwindling economy to among others, the impact of political uncertainty and instability, occasioned by rigged elections of May 2019, which triggered mass demonstrations country wide.

According to him, the economy was hit by COVID-19 pandemic.