Macra rolls out K362m fund for ICT research, innovations

Macra rolls out K362m fund for ICT research, innovations

Post was last updated: February 1, 2023

Malawi Communications Regulatory Authority (Macra) has introduced a special fund for information and communications technology (ICT) research and innovation called Muuni Fund  to nurture and incubate local innovations.

Macra team leader for the fund Wezi Salima said in an interview last week that the fund, with its initial seed capital of $350 000 (about K362 million), targets the academia, the industry and the public.

She said the fund will enable innovations and research work in the country’s digital space to be discovered and accounted for.

Salima: It will promote development
of research facilities

Said Salima: “The long-term national development agenda, the Malawi 2063 recognises ICT as a driver and catalyst for socio-economic development, with more interventions in research and innovation clearly stipulated in the first 10 years Malawi 2063 Implementation Plan.”

Among other objectives, Salima said Muuni Fund will support national ICT research and development in each sector of the economy by providing funding to nascent initiatives and incubation of such innovations into local solutions.

She said it will also promote the development of research facilities in academic institutions and the industry to spur basic and applied research.

MyBucks Banking Corporation Malawi marketing and customer experience manager Lindani Nkosi, whose bank is one of the partners of the project, said the fund is important to the country’s economy.

She said the fund will create an enabling environment for research and innovation, which will bridge the gap between industry and sector developments through ICT research and innovation.

“This will help Malawians to have access to a better economy that will improve their lives in all sectors,” she said.

Minister of Education Agnes NyaLonje said last week in Lilongwe that there is need to bridge the socio-economic development gap that exists between high- income and low-income countries through research, science, technology and innovation.

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