In terms of the Listing Requirements of the Malawi Stock Exchange, a listed company is required to publish a Trading Statement as soon as there is a reasonable degree of certainty that the financial statements for the period to be reported upon will differ by at least 20% from that of the previous corresponding period. FDH Bank Plc accordingly advises that its profit after tax for the half year ending 30 June 2023 is expected to be higher than the one reported for the previous corresponding period by at least 65%. The information on which the above Trading Statement is based has not been reviewed and reported on by the external auditors of FDH Bank Plc. The summary consolidated and separate financial statements of the Bank for the half year ending 30 June 2023 are expected to be published within the required period.
By Order of the Board Dated this 27th day of June, 2023
Juliano G. Kanyongolo COMPANY SECRETARY
Youth empowerment in action: Judith Msusa applauds success of Business Acceleration for Youth Project
By Burnett Munthali, November
The Director of Youth in the Ministry of Youth, Judith Msusa, has expressed her satisfaction with the impact of the Business Acceleration for Youth (BAY) project, describing it as a transformative initiative for empowering Malawian youth economically. Msusa commended the project during a visit to some grant beneficiaries who have successfully turned their ventures into thriving enterprises.
Speaking during her visit, Msusa lauded the program for equipping young entrepreneurs with the tools they need to enhance their livelihoods. "The government is impressed with the youth who, through this initiative, have been able to increase their revenue streams. This not only enables them to live decent lives but also positions them as job creators for their peers," she said. Msusa emphasized the project's role in fostering a generation of self-reliant, innovative, and economically active young people.
Adding to Msusa's sentiments, David Slane, Chief of Party for the project, expressed his own delight at the progress made. "It’s rewarding to see these young individuals demonstrating tangible successes as a result of this support. They are living proof of what is possible when young people are given the right opportunities and resources," said Slane.
The three-year BAY project, funded by the United States Agency for International Development (USAID), is being implemented by the Alliance of Biodiversity International and the Centre for Tropical Agriculture (CIAT). Focused on the districts of Zomba, Balaka, Chiradzulu, Chikwawa, Machinga, and Mangochi, the project aims to nurture the entrepreneurial spirit among youth by providing grants, mentorship, and technical assistance.
During the visit, several beneficiaries shared their inspiring stories of transformation. One of them, a poultry farmer from Mangochi, recounted how the project’s financial and technical support helped her scale her business, enabling her to employ two additional workers. Another young entrepreneur in Zomba, specializing in agro-processing, highlighted how mentorship from the project helped him navigate market challenges and significantly increase his revenue.
These testimonials reflect the project's profound impact on communities. Beyond financial gains, the BAY initiative is helping youth build confidence, resilience, and a sense of purpose, all of which are critical for sustaining long-term economic growth.
As Malawi grapples with high unemployment rates among the youth, the BAY project stands out as a beacon of hope. With continued support from USAID and partners, the initiative could serve as a model for youth empowerment not only in Malawi but across the region.
Msusa’s visit underscores the government’s commitment to supporting programs that align with its broader vision of reducing poverty and unemployment. "The youth are the backbone of our nation," Msusa concluded. "Projects like BAY remind us of their untapped potential and the immense possibilities that emerge when we invest in them strategically."
The success of the BAY project serves as a testament to the power of collaboration between government, development partners, and the private sector in addressing pressing societal challenges.