EDF Posts Strong Financial Performance in 2024: Profit Rises by 95%
The Export Development Fund (EDF) has reported a strong financial performance for the year ended 31 December 2024, with profit after tax rising by 95% to K18.9 billion, compared to K9.7 billion in 2023. This growth reflects EDF’s focused support towards high-potential, export-oriented sectors and significant recoveries from loan impairment provisions.
According to the audited financial statements, retained earnings grew by 55% to K32.4 billion, while total equity increased by 58% to K70.9 billion, further reinforcing the Fund’s capital base and financial sustainability. EDF also closed the year in a strong liquidity position, with current assets of K81.6 billion against current liabilities of K39.5 billion.
Operationally, EDF disbursed K13.5 billion in 2024, a 109% increase from the previous year. The disbursements targeted high-export potential sectors, with agro-processing receiving the largest share, followed by tourism, mining, agriculture, and manufacturing. These investments contributed to creating and supporting 791 jobs, of which 420 benefited women and youth.
Our performance reflects a deliberate focus on strategic sectors that can drive export growth and diversify Malawi’s economy. We remain committed to working with businesses and stakeholders to unlock more value in the years ahead,” said Managing Director, Fredrick Chanza
EDF remains aligned with Malawi’s national development agenda, driving enterprise growth, job creation, and building a more resilient export sector.
Key 2024 Performance Highlights:
We thank our stakeholders for their continued partnership and look forward to further progress in 2025.
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