Malawi to form farmers’ bank using MSB proceeds

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The Malawi government has revealed plans to establish a bank which will be offering loans to farmers.

Documents accessed from the ministry of finance, economic planning and development show that the bank will be opened using proceeds from the sale of Malawi Savings Bank (MSB).

Goodal Gondwe

Finance Minister Goodall Gondwe has confirmed the development.

In an interview, minister of finance Goodall Gondwe said the bank will be named Farmers Cooperative Bank.

According to Gondwe, financial and economic experts are currently discussing on the issue.

He said soon after consultations, government will roll out the Bank which will help ease the challenges which farmers face to access loans in private commercial banks.

Gondwe said the DPP led administration values agriculture as a vital tool for the economic development of this country.

Meanwhile, Farmers Union of Malawi (FUM) has hailed government for the decision.

Last year,  government sold the Malawi Savings Bank to FDH holdings Limited for K9.5 billion despite criticism from some stakeholders.

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20 Comments

  1. Kodi inu mukangomva dzina loti farmer,,ndiyekuti akunena ndinu nomwe?ulimi wolima mukhonde mwanyumba ungatenge nawo ngongole?palitu magulu awiri wa alimi,ulimi wopanga nawo business ndi ulimi wongofuna kudzawotcha mondokwa.Ndiye enanu mukhoza kuwona nokha kuti ngongoleyi simungakwanitse.Boma likufuna anthu womwe angathe kukwanitsa kulima mbeu zodyetsa dziko lose.

  2. Childish idea.How about the following banks,
    Mining bank
    hawkers bank
    whole saler’s bank
    Kabaza bank
    Minibuses bank
    NOT TOUCHING ATALL.
    Orginise farmers into clubs and make available banks approachable for them,

  3. That’s will not help at all , farmers faces alot of challenges when it come selling their goods , they sell their commodities at low price while they will have loan to pay. So who will benefit, it you the bankers and the buyers not t farmers. Better find a good ways of rectifying these problems when it comes to the farmers

  4. Koma ma farmaers amaziwonela pa malawi kobasi. Kupangaso chibungwe china choti chizidula ndalama za alimi. Ku capital hill kwatsekedwa koma zilowe ndi za alimi. Tikuoneleni tapangani koma osati muwuze alimi kuti ayambe apeleka ndalama ndiye muwalembe.

  5. We can do it ourselves….
    1…. mtengo wa fertiliser ukhale
    Wabwino…
    2…..Tiguleni zokolora zathu pa mtengo
    Wabwino…
    It will mean nothing even titamatenga ngongole koma kutigula motibela inu nkumakwedza fertiliser wanu…at the end we will be the poore..that bank will be rich…

  6. alimi osaseweletsa, palibe chimene amapindula pa MALAWI, fodya ndiuyo! chimanga kugula pamtengo wotsika, koma inu gulitsani, mamamama! lero bank adzalandidwe mbuzi,ng’ombe,nkhuku,nkhunda pamapeto pake MALO(BANK )

  7. It wil not improve farmers lives since their farm produce ar sold at low price .Only God knws the future of Malawi .We hav failed and we must all surender to God