By Dorica Mtenje
LILONGWE, MaraviPost; The Export Development Fund (EDF) has recorded a significant surge in its financial performance for the year ended 31 December 2024, posting a profit after tax of K18.9 billion — a 95% increase from the K9.7 billion registered in 2023.
EDF Managing Director Fredrick Chanza attributed the impressive growth to the Fund’s strategic financial support towards creating new and quality businesses, as well as substantial recoveries from loan impairment provisions.
According to the audited financial statements, EDF’s retained earnings rose by 55%, from K20.9 billion in 2023 to K32.4 billion in 2024. Additionally, the Fund’s capital base strengthened significantly, with total assets increasing from K45.0 billion to K70.9 billion over the same period.
Chanza emphasized that despite current liabilities amounting to K39.5 billion, EDF remains in a strong financial position.
On operational performance, Chanza reported that in 2024, EDF disbursed MK13.5 billion — a 109% rise from MK6.46 billion in 2023 — targeting sectors with high export potential.
“Agro-processing received the largest share of the funding, followed by tourism, mining, agriculture, and manufacturing,”
“The disbursements supported a total of 791 jobs, with 420 specifically created or sustained for women and youth.” said Chanza.
Chanza reaffirmed EDF’s commitment to aligning its operations with national development priorities, contributing to enterprise growth, job creation, and the broader goal of building a resilient and diversified export sector.
