Africa-Press – Malawi. The Export Development Fund (EDF) has made a huge profit of MK18.9 billion in 2024, nearly double the MK9.7 billion it made in 2023. This is a big deal because it shows EDF is doing well in helping Malawian businesses grow, especially those that can export goods and bring in foreign currency.
This information comes from an official statement EDF released on 28 April 2025, signed by their spokesperson Deliby Chimbalu.
So, what led to this big profit?
EDF says it made more money in 2024 because:
It supported new and high-quality businesses that are showing strong growth.
It successfully recovered money from old loans that were at risk of not being paid back.
A Stronger Fund Than Before
EDF’s financial strength has improved in a big way:
Its retained earnings (profits kept to reinvest) increased from MK20.9 billion to MK32.4 billion.
Its total equity (total value of the institution) rose from MK45.0 billion to MK70.9 billion.
This growth means the Fund is now in a much better position to continue supporting Malawian businesses.
What Does EDF Say?
EDF Managing Director Fredrick Chanza had this to say about the success:
“Our performance reflects a deliberate focus on strategic sectors that can drive export growth and diversify Malawi’s economy. We remain committed to working with business and stakeholders to unlock more values in the years ahead.”
This means EDF is being very intentional about where it puts its money—choosing industries that can grow Malawi’s economy, especially through exports.
Where Is the Money Going?
In 2024, EDF gave out MK13.5 billion in financial support—a 109% increase from the MK6.46 billion in 2023. These funds were targeted at sectors with high export potential, mainly:
Agro-processing (like turning groundnuts into peanut butter)
Tourism
Mining
Agriculture
Manufacturing
These efforts helped support 791 jobs, with 420 of them going to women and youth.
Why Should Malawians Care?
This success by EDF is a positive signal for Malawi because:
It shows local businesses are growing and becoming export-ready.
It’s creating more jobs and helping reduce unemployment.
It’s empowering women and youth in business.
It helps Malawi earn more foreign currency and rely less on imports.
Who Is EDF?
EDF is a Development Finance Institution (DFI) fully owned by the Reserve Bank of Malawi (RBM). Its job is to provide financial and advisory support to promising businesses in sectors that can grow the economy.
Final Word
EDF’s MK18.9 billion profit shows that when we invest in the right sectors, Malawi can grow, create jobs, and compete in the global economy. It’s a step toward building a stronger, more self-reliant Malawi—and that’s something every Malawian should celebrate.
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