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Malawi : GOVERNMENT announces development of MALAWI Enterprise Development Fund

June 7, 2014

Malawi government declared that it has developed the Malawi Enterprise Development Fund Limited (MEDF).

Now, the (MEDF) will handle all product portfolios and operations of Malawi Rural Development Fund (Mardef), Youth Enterprise Development Fund (YEDF) and Farm Input Loan Programme (FILP). On February 5 2014, MEDF was recorded under the Companies Act (Cap.46:03).

With a new seal and logo, MEDF is in the process of recording with the Reserve Bank of Malawi (RBM) for license to run as a Non-Deposit Taking Microfinance Institution (MFI) under the Microfinance Act No.21 of 2010.Hawa Ndilowe: Government Chief Secretary (c) launching soon.

Parliament developed and agreed Mardef as a establishment project under the ministry of finance with the main goal of delivering rural poor Malawians with access to capital loans to aid them develop or bolster small businesses.

At the movement, Mardef integrated in its operations the Youth Enterprise Development Fund, a conceived vehicle to deliver the youth with feasible technical, entrepreneurial, financial and business management skills. It will also include scopes to allow them engage in micro, small and medium enterprises as a self-employment mechanism.

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Source: TendersInfo (India)

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