Minister of Finance, Economic Planning and Development Joseph Mwanamvekha, has confirmed that Malawi Agricultural and Industrial Investment Corporation (Maiic) will launch soon. Maiic has for long been in the works, as it is a development finance institution under a public private partnership (PPP) arrangement.

Also confirming the news was the Reserve Bank of Malawi (RBM) Governor, Dalitso Kabambe, who revealed that the CEO and management team have been hired. “The cooperation will help financing a lot of local projects particularly in agriculture and those in the manufacturing sector,” he said. It has also been announced that Taz Chaponda, a development economist, has been appointed as Maiic CEO.

Maiic is an initiative by government, working as a private sector-led development finance institution, aimed at empowering agro- businesses and industrial firms acquire financial assistance, management and skills training as well as loans.