{"id":70136,"date":"2025-05-05T23:14:57","date_gmt":"2025-05-05T23:14:57","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/edf-makes-huge-profit-what-it-means-for-malawi"},"modified":"2025-05-05T23:16:45","modified_gmt":"2025-05-05T23:16:45","slug":"edf-makes-huge-profit-what-it-means-for-malawi","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/edf-makes-huge-profit-what-it-means-for-malawi","title":{"rendered":"EDF Makes Huge Profit \u2013 What It Means for Malawi"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Malawi. <\/strong><\/span>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.<\/p>\n<p>This information comes from an official statement EDF released on 28 April 2025, signed by their spokesperson Deliby Chimbalu.<\/p>\n<p><b>So, what led to this big profit?<\/b><\/p>\n<p>EDF says it made more money in 2024 because:<\/p>\n<p>It supported new and high-quality businesses that are showing strong growth.<\/p>\n<p>It successfully recovered money from old loans that were at risk of not being paid back.<\/p>\n<p><b>A Stronger Fund Than Before<\/b><\/p>\n<p>EDF\u2019s financial strength has improved in a big way:<\/p>\n<p>Its retained earnings (profits kept to reinvest) increased from MK20.9 billion to MK32.4 billion.<\/p>\n<p>Its total equity (total value of the institution) rose from MK45.0 billion to MK70.9 billion.<\/p>\n<p>This growth means the Fund is now in a much better position to continue supporting Malawian businesses.<\/p>\n<p><b>What Does EDF Say?<\/b><\/p>\n<p>EDF Managing Director Fredrick Chanza had this to say about the success:<\/p>\n<p>\u201cOur performance reflects a deliberate focus on strategic sectors that can drive export growth and diversify Malawi\u2019s economy. We remain committed to working with business and stakeholders to unlock more values in the years ahead.\u201d<\/p>\n<p>This means EDF is being very intentional about where it puts its money\u2014choosing industries that can grow Malawi\u2019s economy, especially through exports.<\/p>\n<p><b>Where Is the Money Going?<\/b><\/p>\n<p>In 2024, EDF gave out MK13.5 billion in financial support\u2014a 109% increase from the MK6.46 billion in 2023. These funds were targeted at sectors with high export potential, mainly:<\/p>\n<p>Agro-processing (like turning groundnuts into peanut butter)<\/p>\n<p>Tourism<\/p>\n<p>Mining<\/p>\n<p>Agriculture<\/p>\n<p>Manufacturing<\/p>\n<p>These efforts helped support 791 jobs, with 420 of them going to women and youth.<\/p>\n<p><b>Why Should Malawians Care?<\/b><\/p>\n<p>This success by EDF is a positive signal for Malawi because:<\/p>\n<p>It shows local businesses are growing and becoming export-ready.<\/p>\n<p>It\u2019s creating more jobs and helping reduce unemployment.<\/p>\n<p>It\u2019s empowering women and youth in business.<\/p>\n<p>It helps Malawi earn more foreign currency and rely less on imports.<\/p>\n<p><b>Who Is EDF?<\/b><\/p>\n<p>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.<\/p>\n<p><b>Final Word<\/b><\/p>\n<p>EDF\u2019s 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\u2019s a step toward building a stronger, more self-reliant Malawi\u2014and that\u2019s something every Malawian should celebrate.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Malawi<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; 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. [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":70135,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[234],"class_list":["post-70136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-malawi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>EDF Makes Huge Profit \u2013 What It Means for Malawi - Malawi<\/title>\n<meta name=\"description\" content=\"The Export Development Fund (EDF) has made a huge profit of MK18.9 billion in 2024, nearly double the MK9.7 billion it m ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/edf-makes-huge-profit-what-it-means-for-malawi\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EDF Makes Huge Profit \u2013 What It Means for Malawi\" \/>\n<meta property=\"og:description\" content=\"The Export Development Fund (EDF) has made a huge profit of MK18.9 billion in 2024, nearly double the MK9.7 billion it m ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/edf-makes-huge-profit-what-it-means-for-malawi\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-05T23:14:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-05T23:16:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2025\/05\/sm_1746474432.936765.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/edf-makes-huge-profit-what-it-means-for-malawi#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/edf-makes-huge-profit-what-it-means-for-malawi\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"EDF Makes Huge Profit \u2013 What It Means for Malawi\",\"datePublished\":\"2025-05-05T23:14:57+00:00\",\"dateModified\":\"2025-05-05T23:16:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/edf-makes-huge-profit-what-it-means-for-malawi\"},\"wordCount\":460,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/edf-makes-huge-profit-what-it-means-for-malawi#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2025\/05\/sm_1746474432.936765.jpg\",\"keywords\":[\"Malawi\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/edf-makes-huge-profit-what-it-means-for-malawi#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/edf-makes-huge-profit-what-it-means-for-malawi\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/edf-makes-huge-profit-what-it-means-for-malawi\",\"name\":\"EDF Makes Huge Profit \u2013 What It Means for Malawi - 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