Tonse govt rebrands Medf to National Economic Empowerment Fund Ltd
The Tonse Alliance led government has proceeded to rebrand the Malawi Enterprise Development Fund (MEDF), the mega loan program aimed at developing and reviving small scale businesses for the youth and women in the country, to become the National Economic Empowerment Fund (Neef) Limited, secretary to treasury has confirmed.
Minister of Finance Felix Mlusu announced in the 2020/21 budget statement about plans to rebrand Medf, saying government wants the loan scheme to become one of the Malawi’s strategies to achieve government’s vision 2063 goals.
Neef Limited has also changed its logos from Medf, a branded version of two former State-owned enterprises namely Mardef and Youth Enterprise Development Fund (Yedef).
According to the secretary to treasury, Chauncy Simwaka, the rebranding is “in line with the aspirations of the new government towards the Malawians.”
Simwaka said: The company [Neef Limited] will continue providing micro finance services to all Malawians who wish to set up small businesses or expand their existing business in the country.”
The government is trying its best to ensure that the youth and women have a viable financial access in the country.
Economic Association Of Malawi president Lauryn Nyasulu has said there is need for restructuring the loan facility to alleviate adverse effects of political interference on the loans to the youth who owns micro businesses with cash flow problems.
According to Nyasulu significant numbers of youths have inverted or trying to come up with innovations but have no financial destination to take their dreams to.
Social commentator Wonderful Mkuche said government has to make sure economy is working for all, youth inclusive.
” When things are good at macro level it also impact the micro level, but we need direct social developmental loans that can spur innovative growth that are in line with modern world, ” he said.
He added that they is more to be done in practice to uplift lives of young people.
Follow and Subscribe Nyasa TV :
I mean what exactly were we expecting electing a pastor and his marketing sidekick… Of course everything to them is about brand management, that’s why they have a retired insurance guy to run the economy too. They know the price of everything but the value of nothing.
Is Mervis still with Tonse Alliance government, the woman needs to go and follow Muhara.We need new faces there and we hear that she bought a very expensive house where did she get the money, salary yomweyi.
Zopanda nzeru.. how does this rebranding help anything?
How many months in govt now… Zero policy, multiple interface meetings and report requests. College of medicine is stopping covid work because they have received no funding from this govt. They let the post covid mobile bank transfers to expire because they didn’t know what they were there for. We are in the middle of pandemic, no plan or policy on how the economy will tackle this on the budget. They stopped fisp but no plan or directions yet how their fertilizer program will work or get distributed. At least they’re fashionable eh.. we have style over substance and that’s… Read more »
It’s not only rebranding which will matter most. What will matter is its functions and how it serves Malawians. This idea of changing names of this and that is useless in its entirety. We need to see such organizations doing their core functions without any influence of any politician. Remember Muluzi renamed Kamuzu stadium as Chichiri stadium…but the infrastructure was and is the same today…what are we doing Malawians