Written by YAMIKANI SIMUTOWE
BLANTRYE--Malawi’s business magnate Thomson Mpinganjira has urged Malawians to develop a saving and investment culture and desist from a “life of conspicuous consumption.”
Speaking in an interview with Marapost Friday, Mpinganjira, who owns FDH Financial Holding Limited, observed that Malawians are “living a lifestyle instead of living a life.”
As a result, their hard earned money disappears faster than they make it.
He also said that vision is the source of personal and corporate discipline as it provides a picture of what you want to achieve in life.
“A lot of Malawians have served as very successful engineers, managers, consultants and accountants in previous capacities whether in public or private sectors. In fact some have been the pillars behind the major companies and public sector bodies in Malawi.
“Yet as entrepreneurs owing businesses we have either met with little success or have not successfully grown our business to the same level or stature as in our previous occupations due to hand to mouth syndrome,” explained Mpinganjira.
The business magnate advised people interested in business to be financially prepared and have at least a six month buffer to survive on when the business is not making money.
“In real life revenues take time to start flowing in so this buffer will sustain you until you take off. Entrepreneurship should not be premised on how to get rich quick. Unless and until we, Malawian in business learn and accept to address all these issues we stand no chance of graduating into major businesses,” challenged Mpinganjira, who established and started FDB Financial Holdings Limited in April 2002 with 7 employees but says today there are 280 employees.
FDH Financial Holdings is a holding company of FDH Bank, FDH Stockbrokers Limited, FDH Money Bureau and FDH Asset Managers.