Africa-Press – Malawi. Minister of Finance, Economic Planning and Decentralisation, Joseph Mwanamveka, has directed the newly rebranded Malawi Enterprise Development Fund (MEDF) to urgently recover the K250 billion currently owed by loan beneficiaries across the country.
Mwanamveka issued the directive in Lilongwe during the official re-launch of the National Economic Empowerment Fund (NEEF), which has now been rebranded as MEDF, alongside the unveiling of its new logo and strategic plan anchored on pillars of innovation, confidentiality, inclusivity, and improved service delivery.
He stressed that the outstanding funds belong to Malawians and must be recovered without compromise.
“The money is not a gift or donation. It must be repaid to ensure it benefits the entire population. Anyone who benefited from the K250 billion must repay it, and the same principle applies to future loans. This is public money, and its proper use and repayment are crucial for national development,” Mwanamveka said.
The Minister further instructed the MEDF Board and management to operate in a strictly apolitical manner, warning that loan disbursement must only be done after rigorous scrutiny and due diligence.
He also emphasised transparency, directing the institution to publish lists of beneficiaries, amounts disbursed, and district or regional allocations to enhance public accountability and oversight.
Mwanamveka underscored the need for strict enforcement and robust recovery mechanisms, insisting that MEDF loans must be treated as repayable taxpayer funds, with no preferential treatment. He further called for structured follow-up systems and clear collection procedures to improve repayment rates.
He added that loan allocation must be based strictly on need rather than political or regional considerations, warning that politicisation of the fund would undermine public trust and fairness.
MEDF Board Chairperson James Mathambo said the institution is prepared to intensify recovery efforts, including pursuing legal action against defaulters and engaging sheriffs to seize assets where necessary.
“We are ready for sleepless nights to recover these loans as mandated. We have also engaged additional lawyers to expedite cases involving defaulters,” Mathambo said.
MEDF Chief Executive Officer Kaisi Sadala also pledged that the institution will maintain political neutrality in all its operations.
“We will remain apolitical in the execution of our duties to avoid issues affecting loan repayment. The organisation exists to improve livelihoods through enterprise development, and therefore must not favour any region or group,” Sadala said.
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