By Smile Hamilton
The board of the National Economic Empowerment Fund (NEEF) has approved a decision to revert the institution’s name to Malawi Enterprise Development Fund (MEDF).
NEEF Chief Executive Officer Kaisi Sadala confirmed the development during discussions with the Parliamentary Committee on Statutory Corporations and State Enterprises.
Sadala admitted that the change of the institution’s name was implemented without a clear Act of Parliament to properly govern the operations of the fund.
NEEF was originally established in 2005 under the name Malawi Rural Development Enterprise Fund (MARDEF), following a directive by the then President, Bingu wa Mutharika.
Over the years, the institution has undergone several structural and name changes as part of government efforts to improve access to affordable financing for small and medium-scale enterprises, particularly among youth, women, and rural entr
epreneurs.
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