ZOMBA-(MaraviPost)-The Malawi Enterprise Development Fund (MEDF) on Friday handed over cheques worth MK91.5 million to 23 groups of women and youth from Zomba City North and Zomba City South constituencies under the the Constituency Development Fund (CDF) Women and Youth Empowerment Fund.
The presentation ceremony took place at Gymkhana Club Ground in Zomba.
Speaking during the event, MEDF Zone Manager, Precious Chimthenga said the loans were disbursed having satisfied all the conditions.
“We have today awarded these loans to 23 groups that had applied under the CDF women and youth empowerment funds,” said Chimthenga.
He expressed satisfaction that the beneficiaries had qualified and demonstrated capacity to use the funds wisely.
“We trust that they are in a good position to invest the funds and create meaningful impact in their communities,” he added.
The CDF Women and Youth Empowerment Fund is part of government’s strategy to promote inclusive economic growth by providing affordable loans to organized groups for income generating activities.
Speaking on behalf of the beneficiaries, Gift Banda of Faith in Action Youth Group that has received K2.7 million described the support as a dream come true.
“This is a game changer for us. We are very hopeful that this money will transform the lives of all beneficiaries and help us grow our businesses,” said Banda.
The 23 groups that received cheques are expected to invest in various enterprises including agribusiness, tailoring, retail, and service provision.
Government, through MEDF and the reformed CDF, has been rolling out similar disbursements nationwide to empower women and youth economically and reduce poverty at constituency level.
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