The Malawi Enterprise Development Fund has started issuing out loans to the country’s youth and women.

The K13 billion loan program was set up to help the targeted beneficiaries with capital to create and grow their businesses.

In March, President Peter Mutharika launched the program in Blantyre at Mount Soche saying he want to empower the youths and women to be the drivers of change in the country.

Mutharika added that Malawi can achieve its goals by empowering women and youths.

He emphasized that the loan is for Malawians; every woman, every youth and everywhere in the country.

MEDEF Chairperson Patrick Chilambe urged the beneficiaries to pay back the loans in order to rotate the facilities to other beneficiaries.

Under the youth and women enterprise loans, the youth can access Maziko Meant for start-ups and Katswiri for those who are already in business needs boost.

For women who wants to start -up businesses, there is Chiyambi while those already in business but needs boost can access Titchukume.