Medf inputs sale awaits reassessment

SADALA—A team went out to reassess the items The Malawi Enterprise Development Fund (Medf) says its planned sale and disposal of farm inputs awaits findings of a re-assessment exercise of the items. Early this year, Medf Chief Executive Officer Kayisi Sadala told the Public Accounts Committee (Pac) of Parliament that farm inputs such as fertilizer and seeds in excess of between K15 billion and K16 billion needed to be disposed of as there were fears that they could expire. However, committee members issued a stop order to Medf, asking it to allow a forensic audit of the goods before disposal. Sadala told The Daily Times that an inspection report of the items was released for decision-making processes of the fund. "After the [release of the] report, we instituted what they call the Board of Survey, in line with procurement regulations. This is a team that went out to reassess the items because I first went to Parliament in January, when these directives were issued. So, between then and now, quite a number of things have also happened. Items have either expired or some have wasted to the point that they cannot be disposed of by the way of resale," Sadala said. He said the re-assessment exercise that was conducted by the Board of Survey, comprising officers from Medf and specialists from the Ministry of Agriculture and Pesticides Control Board, was completed last week. He said the fund would alert the public based on the report from the Board of Survey, which is preparing the report. "It is through that report that we will know, in terms of the value of what items we have for disposal and which ones have completely gone to waste," Sadala said. MALONDERA—We cannot be duplicating roles He further said a forensic audit focusing operations of the fund, covering years ranging from 2020 to December 2025, was yet to be completed. Recently, the committee's chairperson, Steven Baba Malondera, asked the fund to expedite the forensic audit exercise so that its findings could be presented to Parliament before the items were sold. Sunday, Malondera told The Daily Times that the committee was right to issue the order as it was also a recommendation made by the Statutory Corporations Committee of Parliament. "What the Public Accounts Committee was doing and what the Statutory Corporations Committee did is slightly the same [thing]. So, we can't be duplicating the roles because we are all providing an oversight role," he said. In the past four years, Medf, previously known as the National Economic Empowerment Fund, was providing monetary and farm input loans to customers. Some of the inputs are the ones which are in poor state and remain stocked in the fund's depots across the country.

WIRE — SADALA—A team went out to reassess the items The Malawi Enterprise Development Fund (Medf) says its planned sale and disposal of farm inputs awaits findings of a re-assessment exercise of the items. Early this year, Medf Chief Executive Officer Kayisi Sadala told the Public Accounts Committee (Pac) of Parliament that farm inputs such as fertilizer and seeds in excess of between K15 billion and K16 billion needed to be disposed of as there were fears that they could expire. However, committee members issued a stop order to Medf, asking it to allow a forensic audit of the goods before disposal. Sadala told The Daily Times that an inspection report of the items was released for decision-making processes of the fund. "After the [release of the] report, we instituted what they call the Board of Survey, in line with procurement regulations. This is a team that went out to reassess the items because I first went to Parliament in January, when these directives were issued. So, between then and now, quite a number of things have also happened. Items have either expired or some have wasted to the point that they cannot be disposed of by the way of resale," Sadala said. He said the re-assessment exercise that was conducted by the Board of Survey, comprising officers from Medf and specialists from the Ministry of Agriculture and Pesticides Control Board, was completed last week. He said the fund would alert the public based on the report from the Board of Survey, which is preparing the report. "It is through that report that we will know, in terms of the value of what items we have for disposal and which ones have completely gone to waste," Sadala said. MALONDERA—We cannot be duplicating roles He further said a forensic audit focusing operations of the fund, covering years ranging from 2020 to December 2025, was yet to be completed. Recently, the committee's chairperson, Steven Baba Malondera, asked the fund to expedite the forensic audit exercise so that its findings could be presented to Parliament before the items were sold. Sunday, Malondera told The Daily Times that the committee was right to issue the order as it was also a recommendation made by the Statutory Corporations Committee of Parliament. "What the Public Accounts Committee was doing and what the Statutory Corporations Committee did is slightly the same [thing]. So, we can't be duplicating the roles because we are all providing an oversight role," he said. In the past four years, Medf, previously known as the National Economic Empowerment Fund, was providing monetary and farm input loans to customers. Some of the inputs are the ones which are in poor state and remain stocked in the fund's depots across the country.

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