Unemployment among youth and women could soon improve as government has released funding for councilors’ loans and enterprise support programmes aimed at boosting small businesses and local development.
The funding is expected to unlock fresh opportunities for entrepreneurship, expand access to capital and stimulate economic activity at community level across the country.
In a public notice, Cliff Chiunda, Secretary to the Treasury, confirmed the release of the funds, saying government has already made provision within the national budget to support the programmes.
Chiunda said the disbursement will be implemented through the Local Government Finance Committee (LGFC) and the Malawi Enterprise Development Fund (MEDEF).
“The General Public is further advised that Government through the Local Government Finance Committee and Malawi Enterprise Development Fund will commence the disbursement of the loans as soon as possible following the due processes,” stated Chiunda.
He added that councilors will access loans through LGFC, which are intended to support local governance activities and development projects within councils.
Chiunda further explained that youth and women will benefit through MEDEF, which is designed to promote entrepreneurship and support small and medium enterprises across Malawi.
Government has indicated that the two institutions will soon issue detailed loan disbursement modalities, outlining how beneficiaries will apply and access the funds.
Once fully rolled out, the initiative is expected to reduce unemployment pressures, boost small business growth and strengthen economic participation at grassroots level.
