Information Minister Hails New Innovation Fund to Boost Malawi's Growth
Information and Digitalization Minister Moses Kunkuyu has hailed the newly launched MK410 million Muuni Innovation Fund, saying it will promote ideas to catalyse Malawi's development
LILONGWE, Malawi - Information and Digitalization Minister Moses Kunkuyu has hailed the newly launched MK410 million Muuni Innovation Fund, saying it will promote ideas to catalyse Malawi's development, writes Moses Nyirenda.
Speaking at the fund's launch on Friday, Kunkuyu said the initiative by Malawi Communications Regulatory Authority (MACRA) will provide financial support for innovative ideas and interventions to improve people's livelihoods.
"There are a lot of good ideas being developed, but they need financing. The Muuni Fund is coming to bridge that gap," he said.
The fund will support ICT innovations in key areas like education, health, agriculture, banking, and the environment.
The minister expressed confidence that the economy will get a boost if innovations in these targeted sectors are accomplished.
"These sectors are driving Malawi's economy. If we apply the innovations, we will produce a lot with little input," Kunkuyu said.
He added the fund will help realise Malawi's Vision 2063, as the targeted sectors are enablers of the long-term plan.
Muuni Team Lead, Wezi Salima, encouraged the public to take advantage of the fund.
"Muuni Fund aims at providing financial resources to individuals interested in research and ICT-related innovations in agriculture, education, health, and other areas," she said.
Currently, MK410 million has been allocated to the Muuni Fund, which is set to increase to MK1 billion next fiscal year.
The innovation fund shows government recognition that new ideas and technologies can unlock growth potential across sectors.
With the right support, impact-driven innovations could help Malawi achieve its development goals by finding local solutions to challenges.