Malawi Agricultural and Industrial Investment Corporation (Maiic) says that from receiving about 200 investment proposals for funding, many businesses are yet to master writing convincing business proposals.

Maiic chief executive officer Taziona Chaponda told The Nation newspapers that it is difficult to fund a project or enterprise without a clear business plan or indication of the means to repay the loan.

On the other hand, the government has already provided the initial seed capital of $25 million (about K18.5 billion) and that Maiic is engaging local financial institutions, the private sector and international development finance institutions to raise the rest of the capital.