Generating Formalized Malawian Businesses and Unlocking Access to Capital
Who We Are
The Mine for Malawi initiative is operated by Foster Lewis, a business consulting firm based in Lilongwe, Malawi. Foster Lewis has performed investment research, due diligence, and feasibility studies for a range of private and public sector stakeholders. Our past project work has generated value-add strategic analysis for business in the agriculture, financial services, manufacturing, and public utilities sectors. We have developed a complex understanding of the financial and legal requirements for operating productive companies in Malawi.
Our Mission - afriCUBE
After nearly a decade of experience in Malawi, we have identified the challenges that domestic small and medium enterprises (SMEs) and entrepreneurs face to developing their operations and accessing capital. Most SMEs and entrepreneurs operate informally and lack the technical knowledge to achieve investment readiness. Furthermore, there are few if any cost-effective business development service providers or financial institutions that are willing to provide debt and equity instruments. Therefore, at Foster Lewis, we are engaging in a strategic pivot away from our traditional consulting services to provide business development and financing for SMEs and entrepreneurs. Our new objective is to generate formalized, investment-ready Malawian businesses.
Our recently launched business services product, africube.com provides a range of applications including business registration, diagnostic assessments, and a platform for bespoke investment opportunities for a broad swathe of Malawian businesses. afriCUBE.com though is just the starting point for our engagement in this space. We are seeking to raise funds for an impact investment initiative in which Foster Lewis would provide conditional grants to promising SMEs that could also benefit from capacity building and technical assistance. Funding would be released in stages, obliging businesses to meet readiness requirements such as registration and tax compliance, accounting and financial proficiency, and strategic analysis and investment proposal development.
In Malawi, high interest rates, risk aversion from financial institutions, and a general dearth of private capital places constraints on capital access for SMEs and entrepreneurs. Therefore, although we are working with government entities, development finance institutions, and domestic banks and asset managers to facilitate the movement of capital, we are also exploring alternative methods of financing. The spectacular rise in the price of cryptocurrencies in the past few years has generated significant media attention, spurring popular interest in the topic.
Our Mining for Malawi initiative seeks to capitalize on this burgeoning fad by providing an easy-to-use interface for donating processing power and contributing to alternative methods of financing. Furthermore we hope that the mining initiative can spark interest in Malawi and Foster Lewis, promote domestic SMEs and entrepreneurs, and attract more interest in investment in Malawi!