A feasibility study commissioned by the Government Malawi (GoM) in 2013 showed that there was a great need for the establishment of a development ﬁnancial institution (DFI) in Malawi. The study found signiﬁcant ﬁnancing gaps particularly in the areas of infrastructure development and small and medium enterprises (SMEs).
The ﬁndings of this study have been conﬁrmed by a recent feasibility study which was conducted in 2018. Following the updated feasibility report, GoM decided to pioneer the establishment of an autonomous, sustainable and private sector-led development ﬁnance entity in line with the Malawi Growth and Development Strategy (MDGS) III which was officially launched on 13th March 2018. The entity works in collaboration with the existing banks and ﬁnancial institutions and is a source of capital for the underserved sectors of the economy thereby accelerating the country’s economic growth and development.
The establishment of MAIIC is a ground-breaking partnership between Government, the private sector and international investors to play a leading role as a catalyst for socio-economic development, job and wealth creation in Malawi. Operating as a sustainable and commercially-driven entity, MAIIC has an independent board of directors, the majority of whom are from the private sector. GoM shareholding in the institution is limited at 20 percent.