Export Development Fund (EDF) Archives

Transglobe defrauded RBM of K6 billion – Report

May 14, 2022 Malawi24 Reporter 0 &

Export Development Bank (EDF), a subsidiary of the Reserve Bank of Malawi (RBM), gave private-owned Transglobe Produce Export K6 billion which it is feared may never be paid back. This has been revealed by an… ...

Ombudsman faults unprocedural recruitment of Nsomba as EDF CEO

Apr 01, 2022 Malawi24 Reporter 0 &

Malera Malawi Ombudsman Grace Malera says Gerald Nsomba was hired as Export Development Fund (EDF) Chief Executive Officer despite not meeting minimum qualifications for the role. Nsomba was hired as EDF boss in 2020 just… ...

Over K12 billion vanishes at Malawi Reserve Bank

Mar 19, 2022 Malawi24 Reporter 0 &

A Reserve Bank of Malawi (RBM) fund has lost over K12 billion through acts of gross negligence and abuse of office, a special audit report has revealed. The money was lost at Export Development Fund… ...