The Startup Huddle Lilongwe event began with a greeting by Rachel Sibande, founder of mHub, Malawi's first technological hub. After the initial formal introduction by ladies gathered there, the evening was opened with a talk by the guest speakers from Opportunity Bank of Malawi, Thoko Mushani and Tamala Nyasulu.
The briefing by Opportunity Bank of Malawi ladies was very educational, as what stood out from the Bank’s presentation was the fact that their institution prioritizes women – they actually said it's a “Women's Bank.” It was very evident from their examples that it does indeed focus on women in business, either individually or as a group according to the packages they have for SME’s. With the knowledge that in Malawi most women do not have ownership of economic assets that can be used as collateral in accessing loans, the bank's efforts to prioritize women is a very recommendable initiative
The emphasis by the bank on the importance of SMEs to keep records of their financial transactions and depositing their sales income (before any use) enlightened me on a practice I should adhere to. Further, being informed that the bank uses an SME’s business records and the business account performance as key factors in approving a loan, made me realize the significance of practicing financial diligence.
Our second speaker was the highly eloquent and poetic, Bhatupe Mhango-Chipanta, founder of Bhatupe by Design. She owns a perfume company and serves as manager as well as a “nose” – as she put it – for her company. The presentation touched me personally in almost all the areas of my life (former career woman, emerging entrepreneur, a wife and a mother). Her practical and realistic description of her journey was very good. She did not only present the rosy picture of her business and life but also the “downs” – the realities against planned targets and funds resonated very well with me. It taught me about focusing on the goal or passion, despite the many set backs; being flexible in my expectations in light of the realities on the ground; balancing my roles in life as a woman – the need for separation and/or differentiation (which was my favorite point and an eye-opener for me).
Bhatupe’s talk was divided into different elements: how she came to pursue her dreams in perfume-making, her beliefs on research, branding and networking - in essence, her general tips for success. As food for thought, this opened a level of critical and analytical thinking about my business. Her bonus to cap the night was the sharing of books to read, which was very inspiring, as it showed how resourceful she is and her pursuit of knowledge in whatever she does.
I would love to conclude by stating, I appreciate the approach taken by the Network of Entrepreneurial Women’s organization of Startup Huddle, which has been using real women entrepreneurs to share their practical experiences to be, a better empowerment method than theory or classroom-based presentations. As I have benefited a lot from the two women entrepreneurs, Maggie Kubwalo-Chaika and Batupe Mhanga-Chipanta, I thank them for sharing their experiences in the last two months.