The Export Development Fund (EDF) has partnered with FDH Bank Plc, through its FDH Corporate and Institutional Banking (FDH CIB) section, to expand access to Malawi’s formal gold market through the establishment of four additional Gold Trading Centres in Karonga, Mzimba (Jenda), Mangochi and Blantyre.
The expansion will extend EDF’s gold purchasing services beyond its existing locations in Lilongwe and Liwonde, bringing formal gold trading services closer to producers and traders in different parts of the country.
Through the partnership, FDH Bank Plc will host Gold Trading Centres in its branches in Karonga, Mzimba (Jenda) and Mangochi, providing EDF with access to established banking infrastructure and enabling the Fund to bring its gold purchasing services closer to communities in these areas, while the Blantyre Centre will be hosted at Reserve Bank of Malawi (RBM) premises.
Currently, EDF purchases gold through its Gold Trading Centres in Lilongwe (RBM Office) and FDH Liwonde Service Centre.
Commenting on the expansion, Inglis Nyamilandu, Acting Managing Director for EDF, said the new centres were part of the Fund’s broader efforts to reach more people involved in the country’s gold value chain.
“The opening of the new centres is part of our expansion efforts. We want to reach more people. At the moment, we are buying gold from only two locations, Lilongwe and Liwonde, yet there are gold traders across the country. So, by taking our services closer to where the gold is being mined, we expect to reach more traders and increase the volumes of gold we purchase. Our partnership with FDH Bank is an important part of this expansion because it allows us to leverage their branch network to reach more people. We also plan to extend to other districts in the near future,” said Nyamilandu.
Commenting on the partnership, FDH Bank Plc Managing Director Noel Mkulichi, said the partnership aligns with the bank’s growing focus on supporting the mining sector and creating solutions that contribute to the development of Malawi’s mineral value chain.
“We are pleased to partner with EDF in supporting the expansion of Gold Trading Centres across the country. As a bank with a wide branch network, we see an opportunity to use our existing infrastructure to help bring these services closer to communities,” said Mkulichi.
The formal gold market was established by the Government in 2021 to provide a structured avenue for gold trading in Malawi. The Gold Purchase Programme is owned by the Reserve Bank of Malawi (RBM), with EDF serving as the implementing agency.
As of September 2026, EDF has purchased 1,630,368.68 grams of gold, equivalent to approximately 1.63 tonnes, since the establishment of the formal gold market.