BLANTYRE-(MaraviPost)-A fintech company, MoPay and agriculture manufacturing firm Thanthwe Farms emerged top winners of the 2025 Phuka micro, small and medium enterprises (MSME) awards sponsored by Standard Bank Plc.

The Phuka awards came amidst calls by Standard Bank Plc and government for small businesses to step up efforts in contributing to much-needed foreign currency by intensifying the export drive.

MoPay and Thanthwe Farms dominated the awards by winning in their respective categories of technology and manufacturing before capping the glittering awards night on Wednesday in Lilongwe as overall winners in the Best SME and Best Woman-led business of year, respectively. Each received a total of K9 million.

Leading calls for export intensification, Chief Executive Phillip Madinga said the MSME sector which accounts for 47 percent of GDP, has the potential to reverse years of foreign currency shortages in Malawi.

He estimated its export value at U$2 billion annually if each of the country’s 1.6 million MSMEs exported a minimum of U$100 worth of goods monthly.

“We can only hope to achieve this if we work collectively to harness the potential of small business. Our decision to partner SMEDI and government for these awards aligns with our track record of supporting MSMEs in economic recovery and growth efforts,” said Madinga.

He said entrepreneurship thrives on responding to challenges and solving complex economic and societal problems.

“Through these prestigious awards Standard Bank Plc would like to recognize and partner those MSMEs rising to the occasion in helping address Malawi’s economic problems through innovative approaches,” he added.

New Principal Secretary in the reconstituted Ministry of Industrialisation, Business, Trade and Tourism Wiskes Nkombezi hailed the partnership by Standard Bank and the Small and Medium Enteprises Development Institute (SMEDI) Corporation to recognise the MSME sector through the Phuka awards.

“SMEs represent the backbone of our economy. They play a crucial role in employment generation, providing jobs and opportunities within our communities which promotes inclusive growth and social cohesion,” said Nkombezi.

For his part SMEDI Acting CEO Otaniele Chezani said the awards represented the power of turning every dream into reality and in the transformation of the country’s economy.

“The power to transform Malawi does not only rest in the ivory tower boardrooms, but in the workshops, farms, and small factories of the every day dreamers who don’t give up,” said Chezani.

Other category winners of the 2025 Phuka awards are Feco Investments (Agribusiness), Adventures by Colby (Tourism), Yami Gemstones (Mining), EnviroSolutions (Green Business), and Milanzi Interiors (Furniture and Joinery).

Category finalists each received K2 million and a certificate of recognition.

The Maravi Post