Indigenous Businesspersons Association of Malawi (IBAM) has appealed to government to consider introducing a development bank to provide soft loans to business owners as one way of developing the business sector.

IBAM president Mike Mlombwa told YFM online that currently the indigenous business sector is failing to sustain its relevance due inadequate funds and access to finance.

Mlombwa said indigenous business owners are finding it hard to access loans and services due to high interest rates among other things.

He said the introduction of such a bank would give indigenous businesses the opportunity to grow at a considerable pace.