The landscape of domestic small holder farming has undergone a major facelift with New Finance Bank (NFB) Malawi’s MK1 billion investment in mechanised agricultural equipment.
The initiative, dubbed project 1000 is about smallholder farmers accessing irrigation equipment and farming machinery through NFB.
‘Smallholder farmers are key in the equation of agri-produce.They are the productive parts of the exercise. Thus they can make or unmake all our expectations. They hold the critical mass to the project. All smallholder farmers are allocated land at the anchor farms of 1 hectare each to grow commercial crops ‘said NFB’s CEO Francis Pelekamoyo adding that among other key facilities ,farmers shall be allocated with irrigation equipment and be given technical assistance by the anchor farmers in modern crop husbandry.
Pelekamoyo then highlighted that the ultimate land expected to be cultivated is 1000 hectares
‘This project is a game changer and crucial to facelifting commercial agricultural practices. NFB believes in the potential of agriculture and as such, we are investing financial resources as our demonstration of commitment and dedication to the eradication of poverty among small holder farmers, he explained.
Director of Programmes at Farmers Union of Malawi (FUM), Jacob Nyirongo, has hailed NFB for extending such assistance to smallholder farmers in the country.
‘There is need for collective responsibility to modernize agricultural practices and maximise returns for the betterment of farmers. Indeed, there is need for a mindset change and this we will achieve together,”Nyirongo observed.
NFB has joined forces with Africa Leasing Group, Stansfield Motors and Nico General Insurance Company to implement this exciting Project 1000.