Govt establishes Malawi Enterprise Development Fund

Malawi government has established the Malawi Enterprise Development Fund Limited (MEDF) which will now be handling all product portfolios and operations of Malawi Rural Development Fund (Mardef), Youth Enterprise Development Fund (YEDF) and Farm Input Loan Programme (FILP).

MEDF, with a new seal and logo, was registered on February 5 2014 under the Companies Act (Cap.46:03), and is in the process of registering with the Reserve Bank of Malawi (RBM) for license to operate as a Non-Deposit Taking Microfinance Institution (MFI) under the Microfinance Act No.21 of 2010.

Mardef was established and approved by Parliament as a development project under the ministry of finance with the principal objective of providing rural poor Malawians with access to capital loans to assist them set up or expand small businesses.

Mardef then incorporated in its operations the Youth Enterprise Development Fund, a conceived vehicle to provide the youth with sustainable technical, entrepreneurial, financial and business management skills and opportunities to enable them engage in micro, small and medium enterprises as a self-employment mechanism.

In the course, government rolled out what it called the Farm Input Loan Programme, ant it was also under the armpit of Mardef.

The dates of MEDF’s official launch will be announced shortly.

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