Tag: Malawi

Old Mutual managed fund ULIMI backs growth of Malawi’s macadamia sector with investment in Gala Agriculture

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MALAWI – ULIMI Fund, a private equity fund managed by Old Mutual Investment Group Malawi, has made an undisclosed amount of investment in Gala Agriculture Company, a macadamia plantation in Malawi. Gala Agriculture Company operates 12 farming estates spanning 6,000 ha and has made considerable progress towards building a state-of-the-art export driven operation, which is already delivering significant social, environmental and community benefits. The company will use the equity investment to double their macadamia plantations and production facilities over the next five years. “We are delighted to partner with Old…

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Malawian dairy farmers to benefit from launch of first milk powder processing firm in the country

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MALAWI – Mach Milk Company, a Malawian dairy processing company is set to soon commence operations in the country’s second largest city, Blantyre. The newly established factory which is currently under construction, expects to produce 144, 000 kilogrammes of milk powder annually. The investment will offer direct market access to the over 5,000 dairy local farmers in the region and create employment opportunities for 200 people. It will also provide Malawians a rare opportunity to contribute towards the development of their country through buying and consuming locally produced products. “I…

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Malawi signs pact with India to export 50,000 Mt of pigeon peas annually

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MALAWI – Malawi has signed a Memorandum of Understanding (MoU) with India to export 50, 000 metric tonnes of the crop to the Asian market annually, for the next five years. The deal was inked by the Indian High Commissioner to Malawi, Mr. S. Gopalakrishnan, and Malawi’s Minister of Trade, Sosten Gwengwe. In his remarks, Gopalakrishnan said the major objective of the agreement is to foster trade between the two countries. “The trade of pigeon peas through this MoU will not only meet the domestic requirement of India, but also…

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EIB approves US$35.7m loan for clean water supply in Malawi

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MALAWI – The European Investment Bank (EIB) has approved $35.7 million loan to extend the drinking water network in southern Malawi. The project is to be implemented by the state-owned Southern Region Water Board (SRWB). The soft loan is to be repaid over 20 years with a grace period of 5 years. The EIB funding is for the extension of the drinking water network in the southern region of Malawi, particularly in Balaka and Liwonde. According to the SRWB, part of the funding will be used for the development of…

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Castle Malawi debuts new beer brand Doppel Munich

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MALAWI– Castel Malawi, leading producer and distributor of alcoholic and non-alcoholic beverages in the South African country has launched a new brand of beer on the market known as Doppel Munich. Castel Malawi Managing Director Herve Milhade described the new beer as very tasty, very strong and very unique, introduced in the market to address consumer needs. “This new beer on the market will surely provide a great experience to our consumers,” he said The company’s manager for alcoholic beverages Stanley Chiyola said they have introduced Doppel to bring variety…

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ITFC, OCP Africa partner to build Côte d’Ivoire’s rice value chain, Malawi government plans US$40m rice scheme

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CÔTE D’IVOIRE – The International Islamic Trade Finance Corporation (ITFC) has partnered with OCP Africa to support 20,000 rice farmers in Côte d’Ivoire’s agriculture value chain, to boost local agricultural production, minimize exposure to imports and advance food security in the country. The initiative will be undertaken trough OCP Africa’s Agribooster Program with participation from the Arab Africa Trade Bridges (AATB) Program, a multi-partner program led by ITFC. The agreement was signed by Dr. Mohamed Anouar Jamali, Chief Executive Officer of OCP Africa, a subsidiary of OCP Group, and Eng.…

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Malawi’s agriculture sector prevailed COVID-19 headwinds registering 6.6% growth

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MALAWI – The agriculture sector of Malawi has reported a 6.6% jump in the fourth quarter of 2020, a rise from 4.3% achieved in 2019. According to the latest report by Reserve Bank of Malawi (RBM), the rise is attributed to high maize, rice and cotton output following favourable weather conditions and increased input uptake. Explaining the sector growth, agriculture policy development analyst Tamani Nkhono-Mvula said agriculture is seasonal and is predominantly subsistence with little linkage to the international market except for a few value chains such as tea. “As…

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Government of Ireland supports WFP in establishment of National Nutrition Centre of Excellence in Malawi

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MALAWI – The government of Ireland has joined the United Nations World Food Programme (WFP) in fight against malnutrition in Malawi, contributing EUR 550,000 (US$600,000). The contribution, according to WFP will be used to promote access to quality nutrition and health services targeting 30,000 malnourished children, adolescents, and women. Its focus will be on maternal, infant and child nutrition to reduce stunting and micronutrient deficiencies. The backing will also be used to provide technical support to the Government of Malawi in establishing a National Nutrition Centre of Excellence. The centre…

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Malawian dairy processing start-up Mzuzu Dairy doubles out-put with new machinery

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MALAWI – Mzuzu Dairy Limited, a milk processing start-up in Malawi has invested K75 million (US$97,200) in new machinery aimed to double its output and increase market access by dairy farmers. According to reports by The Nation Malawi, the company’s processing capacity will increase to 5,000 litres per day from 2,500 litres. To this end the facility will need more raw material providing a direct market to over 5,000 dairy farmers a rise from 2,000 farmers. “Since we started the production in November 2019, the demand for our products has…

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