Chakwera launches MWK 2bn Youth Innovation Fun

By Michael Martin/MALAWI

°°°Over 800 youth apply for funding; 150 selected–NYCOM

President Dr. Lazarus Chakwera has reaffirmed his administration’s commitment to empowering the youth as central drivers of Malawi’s Vision 2063.

Speaking at the 2025 National Youth Summit held at the Bingu International Convention Centre (BICC) in Lilongwe, the President officially launched a MWK 2 billion Youth Innovation and Empowerment Fund designed to support young Malawians with creative business ideas and practical skills.

Chakwera has highlighted that Malawi’s long term development blueprint, Vision 2063, hinges on the involvement of its youthful population, which constitutes the majority of the country’s demographics.

“The youth are not just the leaders of tomorrow they are the change makers of today. Through strategic investment in their ideas and enterprises, we are laying the foundation for a self reliant, prosperous Malawi,” said Chakwera.

The President also revealed that government is considering increasing the fund’s size from the current K2 billion to K10 billion Kwacha, in response to overwhelming demand and the potential impact on economic development.

In his remarks, Executive Director of the National Youth Council of Malawi (NYCOM), Rex Chapota, announced that over 836 young people applied for support under the fund, with 150 candidates already selected for the first round of disbursement.

“These selected youth will receive funding ranging from MWK 5 million to MWK 25 million each, depending on the nature and scope of their innovative business or project proposals,” said Chapota.

He emphasized that the goal of the initiative is not only to promote self-employment but also to build a resilient economy by empowering youth with practical solutions in agriculture, technology, arts, and other productive sectors.

NYCOM Board Chairperson Duncan Chiyani urged the youth to ask questions, engage with policymakers, and seize the opportunity to access funding that can help bring their ideas to life.

“Young people must be bold enough to innovate and seek support. This is your moment to rise,” said Chiyani.

He encouraged applicants to ensure their proposals are aligned with modern trends and local development needs.

Among other prominent people also in attendance were Uchizi Mkandawire, Minister of Youth and Sports, Vera Kamtukule, Minister of Tourism, Jessie Kabwila, Minister of Higher Education, Vitumbiko Mumba, Minister of Trade and Industry and Moses Kunkuyu, Minister of Information.