Friday, May 27, 2022
  • About Us
  • ImagiNATION
  • Adverts
  • Rate Card
  • Contact Us
The Nation Online
Advertisement
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home Business Business News

Rudevit ready to roll

by Chikondi Chiyembekeza
13/11/2020
in Business News
3 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

The Reserve Bank of Malawi (RBM) has granted approval to Rural Development Investment (Rudevit) Holdings plc to raise an initial K10 billion capital from the public for investment in rural enterprises.

In a statement yesterday, Rudevit Holdings plc chief executive officer Enwell Kadango said the money will be turned into equity to invest in different sectors of the country’s economy, which have the potential to revitalise rural development.

Kadango: Our model applies entrepreneurial discipline

“Approval by the financial regulator, Reserve Bank of Malawi and granting of the licence marks an important milestone towards realising our dream to unleash Malawi’s rural development potential primarily through agriculture and agro-processing, manufacturing, tourism, transportation, energy, textiles, packaging, and healthcare,” he said.

Ruvedit Holdings plc is a local initiative with a diversified multi-sectoral portfolio of projects to build wealth, create jobs and stimulate rural development by exploiting the country’s vast rural economic potential.

Kadango said the integrated investments by Rudevit in the rural economy would lead to establishment of markets, industries and linkages to create sustainable value chains.

He said the initial K10 billion would initially be invested in agriculture and manufacturing, with specific interests in organic fertiliser, seed multiplication and production, value addition, farm mechanisation and food processing.

He said: “Our model applies entrepreneurial discipline to create sustainable entities.

“The company’s central belief, based on first-hand knowledge and experience, is that the key to Malawi’s and indeed Africa’s economic prosperity lies in finding effective ways to engage the rural population and design innovative solutions that address their unique problems.”

To ensure indigenous participation, Malawians can join Rudevit Limited at a fee of K20 000 and buy shares in Rudevit Holdings plc at K1 per share for a minimum of 20 000 shares.

Rudevit Limited Company will own 60 percent stake in Rudevit Holdings Company.

The balance of 40 percent in the holdings company is being offered to the  public and members of Rudevit to participate through buying of shares.

On his part, Rudevit Holdings chairperson Hastings Bofomo Nyirenda said following RBM’s approval, the firm will embark on a national investment communication programme to raise awareness to drive the capital-raising activities.

He said: “We are confident of raising the required capital and more. Already, equity subscription into Rudevit is underway.

“However, to ensure national appeal and sector-wide participation, we are soon embarking on a sensitisation drive to raise awareness about the initiative and opportunities it represents for the general public to make informed investment choices.”

He said Rudevit’s offer is open to individuals, family businesses, small and medium enterprises, savings groups and village banks, life insurance funds, commercial banks, Malawians in the diaspora, corporate institutions and Malawian development finance institutions.

Previous Post

Learning as usual not an option

Next Post

Experts tout irrigation schemes for agriculture transformation

Related Posts

Business News

Courier operators hail Macra’s move

May 27, 2022
Chidzungu (L) and Suleman exchange MoU documents
Business News

Conforzi to invest K8.2bn in PPP venture

May 27, 2022
Tourism attraction places such as this can boost the country’s economy
Business News

Malawi improves on tourism ranking—report

May 27, 2022
Next Post
Kabango: Create some levels of resilience 
to productive players

Experts tout irrigation schemes for agriculture transformation

Opinions and Columns

Business Unpacked

Tame egos, take risks to grow economy

May 26, 2022
People’s Tribunal

What was that press briefing all about?

May 22, 2022
Big Man Wamkulu

Wife, in-law plotting my downfall

May 22, 2022
My Thought

Tonse Alliance died on arrival

May 22, 2022

Trending Stories

  • His case heard in UK court: Sattar

    Acb explains Sattar miss

    0 shares
    Share 0 Tweet 0
  • Govt, IMF talk deal

    0 shares
    Share 0 Tweet 0
  • Gone but still in our midst

    0 shares
    Share 0 Tweet 0
  • Flames drawn against Zimbabwe

    0 shares
    Share 0 Tweet 0
  • Cooking oil for relief

    0 shares
    Share 0 Tweet 0

Malawi-Music.com Top10

  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2022 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.