Press Trust was set up as a Public Trust by the first President of the Republic of Malawi, the late Ngwazi Dr H. Kamuzu Banda. The Trust Deed was entered into on 10th February 1982 and Press Trust was registered under the Trustees Incorporation Act (Cap 5.02 of the Laws of Malawi) on 5th March 1982.
In 1995, the Government of Malawi enacted the Press Trust Reconstruction Act, 1995 (PTRA) which sought to clarify the administration of the Trust. By virtue of Section 3 of the PTRA, the original Trust Deed of 1982 was varied to the extent contained in a Deed of Variation comprised in the Schedule to the PTRA.
Press Trust is a Trust Fund governed by the Press Trust Reconstruction Act of 1995 and administered for the benefit of the people of Malawi. The operations of the Trust comprise management of commercial investments and funding social development programmes.
The Trust derives its donor capabilities from a diversified commercial investment portfolio in both listed and unlisted companies. The Trust has invested in banking and financial services, insurance, hospitality, diverse goods and services, telecommunications, manufacturing, agro-processing and property.
The Trust utilises the resources it derives from its various investments to fund social development programmes throughout the country which fall within the four priority funding areas of health, education, social welfare and housing. It also funds the following sectors of sports, culture, scientific research, good governance, environmental conservation and disaster relief.
A leading development catalyst in Malawi.
To invest in the productive sectors of the economy and help the country achieve sustainable socio-economic development.
To ensure that ultimately, all communities in Malawi benefit socially and economically from the Trust fund.
In the execution of our mandate, Press Trust upholds and espouses the following values:
Accountability: We take full responsibility for the decisions and commitments we make, the actions we take and the outcomes of our efforts. We sincerely believe and accept that our performance will be judged on these.
Transparency: We always try to reach decisions by following clear and visible procedures and processes. Our consensus Board approval method is rigorous and as fair and unbiased as is humanly possible. We believe in providing clear information in our reports regarding the position and performance of the Trust.
Integrity: We always act honestly and openly and we are trustworthy and consistent in all that we do. We act fairly in accordance with the law and principles of good corporate governance and we uphold the highest ethical standards.
Mutual respect: We believe in fair play and mutually beneficial relationships. We treat others as we would like to be treated and we continuously learn from the strength of our diversity. We actively listen to others and recognize that everyone has a contribution to make.
Professionalism: We execute our mandate with consistent competence, dependability, responsibility and due diligence in a responsive manner.
Innovation: We are open to new ideas, embrace change, and take disciplined risks to develop sustainable social economic development solutions for all Malawians. We are committed to implementation of evidence based solutions founded on research and well tested ideas.