Government increases Science and Technology Fund
By Wezzie Gausi:
The Treasury has announced that it has increased the Science and Technology Fund package from K291 million in the 2022-23 financial year to K450 million in the 2023- 24 financial year.
The fund was set up in line with provisions of the Science and Technology Act of 2003 for the advancement of science and technology in Malawi.
Secretary to the Treasury Macdonald Mafuta Mwale has confirmed the development.
“The government is committed to financing research, science, and technology and innovation sectors through avenues such as the Science and Technology Fund, among others.
The government believes that the fund will facilitate import substitution and wealth creation in the technological sector.
“It is my sincere hope that the National Commission for Science and Technology (NCST) will continue to put the resources from the fund into research, development, transfer and commercialisation of impactful technologies. It is no longer a secret that the application of science and technology has tremendously transformed many economies the world over. Our future and, indeed, that of the region and the rest of the world is dependent on a solid science and technology base,” Mwale said.
NCST acting Director General Gift Kadzamira said she was pleased with the development.
“We, as a country, have vibrant youths who are coming up with different technologies in the sector. Our institution is geared up to promote such technologies so as to help in the realisation of the country’s blueprint, Malawi 2063 vision,” Kadzamira said.
