The OPEC Fund boosts sustainable agriculture in Malawi with US$20m development loan

MALAWI – The OPEC Fund for International Development (the OPEC Fund) has signed a US$20 million development loan agreement with Malawi to improve the livelihoods of around 1.3 million people living in rural areas. The financing will support the ‘Transforming Agriculture through Diversification and Entrepreneurship’ program, aligning with Sustainable Development Goal 2 on food security, improved nutrition, and sustainable agriculture. The objective of the program is to strengthen value chains and improve the resilience and capacity of Malawi’s smallholder farmers and rural organizations. The program will provide better infrastructure, including…

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USAID, TechnoServe, Partners in Food Solutions launch food processing program in Malawi

MALAWI – Partners in Food Solutions, comprised of a consortium of world-class food industry companies has collaborated with non-profit organization, TechnoServe and the U.S. Agency for International Development to introduce the Alliance for Inclusive and Nutritious Food Processing (AINFP) in Malawi. The program, according to TechnoServe has a backing of US$1 million and is aimed to provide tailored technical advice, sector-wide training, and improved access to finance for Malawian food processing firms. It is a three-year project aimed to help food processors to weather the COVID-19 crisis, improve the quality…

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Malawi to start supply of high-value vegetables from SADC’s largest greenhouse facility

MALAWI – Malawi is set to commence supply of horticultural produce to both local and export markets from its newly established green-house project. The project is a joint venture between the government agency, Green Belt Authority and global Israeli investment company, Inosselia Agro, under the Public Private Partnership (PPP). According to the project design, the vegetable farm will comprise of 16 green houses, each covering 1 hectare, on land that has been leased out on long-term basis by Airport Development Limited (ADL). So far, tonnes of produce of tomatoes, cucumbers,…

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Castle Malawi partners with UK based firm Jacobs and Wells to export its iconic gin to Europe

MALAWI – Castel Malawi, leading producer and distributor of alcoholic and non-alcoholic beverages in Malawi has entered into a partnership agreement with a United Kingdom based firm Jacobs and Wells to enable the company export some of its products to Europe. Under the deal, the main product to be marketed is its Malawi Gin. According to reports by The Nation Malawi, this will create more market for the company’s other products such as Malawi vodka and Premier brandy having the potential to compete fairly with other international brands across Africa…

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Castel Malawi to engage local farmers for raw material for malt beer production

MALAWI – Castel Malawi Group, a leading producer and distributor of alcoholic and non-alcoholic beverages in Malawi is planning to contract local commercial farmers to grow maize and rice to be used as raw materials in the production of malt beer. The firm’s head of external affairs Godwin Ng’oma revealed this, stating that, “We have been importing about 5,000 to 10, 000 metric tons of these raw materials for our beer production per year.” Ng’oma said in Madagascar, where Castel Group is also operating, the company works with local commercial…

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EU injects US$7.3m in agricultural research project in Malawi to promote sustainable agriculture

MALAWI – Malawi launches a €6.3 million (US$7.3m) project dubbed Development of Smart Innovation through Research in Agriculture (DeSIRA), financed by the European Union (EU) seeking to promote climate-relevant, productive and sustainable transformation of agriculture and food systems in the country. The five-year project also aims to integrate technological options adapted to local conditions, reports Nyasa Times. The DeSIRA initiative is an EU project aiming to support research and innovation projects in Africa, Asia, Latin America and strengthening research capacities and research governance involving key actors at national, regional, continental…

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Malawian state-owned produce trade ADMARC seeking US$300m for recapitalisation

MALAWI – Malawian state-owned produce trader, Agricultural Development and Marketing Corporation (ADMARC) is seeking US$ 300 million (about K222 billion) to be sourced through Parliament for recapitalisation to ensure seamless and profitable operations. The move was revealed by ADMARC’s acting Chief Executive Officer Felix Jumbe, during the parastatal’s meeting with four parliamentary committees: Agriculture and Food Security, Budget and Finance, Industry and Trade and Public Accounts, reports The Nation Malawi. The financing is in addition to the K100 billion (US$135.2m) loan Admarc wants to borrow from Export Development Fund (EDF), a development…

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Old Mutual’s agricultural fund advisor invests in Malawian agribusiness firm

MALAWI – South African based, United Farmers Fund (UFF) Agri Asset Management, the agricultural fund advisor within the Old Mutual Investment Group has invested in Malawian farming business, Jacoma Estates and its subsidiary. Jacoma Estates is the parent company of Tropha Estates, an agribusiness in Northern Malawi developing over 1,000 hectares of irrigated macadamia and annual crops. The company is focused on producing cash crops for export, has three nucleus farms and a macadamia processing facility. It has also established smallholder out grower schemes for macadamia, chili and paprika. Being…

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Illovo Sugar Malawi earnings decline by 75% affected by country’s ailing sugar industry

MALAWI – Illovo Sugar Malawi, the Malawian subsidiary of pan-African sugarcane grower and sugar producer has reported a 75 per cent decline in its earnings to K2 billion (US$2.7m) in the six months ended February 28 2020, from K8.1 billion (US$11m) recorded in the previous period. The firm’s revenue, however, increased from K62.4 billion (US$84.8m) to K73.5 billion (US$99.9m) during the same period last year. The firm attributed the decline in earning to challenging operating and market conditions, including informal sugar imports and logistical challenges, reports the Nation Malawi. Export sugar revenues…

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Admarc seeking US$135.2m loan to finance purchase maize produce from Malawian farmers

MALAWI – The Agricultural Development and Marketing Corporation (Admarc) of Malawi is seeking K100 billion (US$135.2m) loan from the Export Development Fund (EDF) with guarantee from government to finance the purchase of maize and cash crops from small-scale farmers. Admarc is a government-owned corporation that promotes the Malawian economy by increasing the volume and quality of its agricultural exports and develop new foreign markets for the consumption of Malawian agricultural produce to support the farmers. Admarc acting chief executive officer Felix Jumbe said that the State produce trader is seeking…

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