As Malawi strives to strengthen its competitiveness in the global market, developing a pipeline of bankable projects is essential to achieving the country’s economic goals. The Export Development Fund (EDF) has intensified its support for project preparation, creating an opportunity for impactful, investment-ready projects that contribute to the nation’s growth. One such project receiving EDF’s support is Rift Valley Mining Company Limited.
Rift Valley Mining Company, a Malawian-owned enterprise, is currently advancing a lime quarrying and processing project aimed at producing limestone products for both local and export markets. Through EDF’s Project Preparation Facility, Rift Valley Mining has secured funding to support critical early-stage development, including comprehensive feasibility studies and site preparation. This financing has been instrumental in advancing exploration activities to position the project as bankable and investment ready.
“Our project is currently in the exploration stage, and reaching this point has been made possible through financing from the Export Development Fund’s Project Preparation Facility,” said Russell Thornicroft, Managing Director of Rift Valley Mining. “This facility provided essential funding for the initial exploration phase—support that is often unavailable from traditional banks. I encourage anyone with promising ideas to pursue them and consider approaching EDF for support.”
EDF’s Board of Directors recently visited the project site to review progress. Expressing his satisfaction, EDF Board Chairperson Dr. Neil Nyirongo stated, “We are pleased with the advancements Rift Valley Mining has made in this initial phase. EDF remains committed to backing projects that have the potential to drive Malawi’s economic transformation. Our goal is to support initiatives that bring sustainable growth and create long-term value for the nation.”
As a development finance institution, EDF is playing a pivotal role in advancing Malawi’s economic development by building a pipeline of bankable projects that attract private investment. Through the Project Preparation Facility, EDF aims to prepare high-potential projects for investment, enabling them to reach the readiness needed to secure future funding.