Mining, agriculture to get a boost

17

….Brazilian firm to pump in 50 million USD

Mining and agriculture sectors in Malawi are expected to be boosted following a Brazilian company’s plans to invest in the sectors.

The intention to invest in the two sectors was revealed by Danilo Daneluci, Chief Executive Officer of Brazil’s Costa Negócios responsible for Africa, during an audience with President Peter Mutharika.

Peter Mutharika

The two met on the sidelines of the ongoing 72nd United Nations Assembly (UNGA) in New York City, United States.

Danelucci said the company will first invest in the agriculture sector with the Greenbelt Initiative as its primary target.

“We met with the president to talk about opportunities in Malawi especially the Greenbelt Initiative. Our company likes to empower small scale farmers and we see the Greenbelt as a potential project to develop agriculture in Malawi especially for small scale farms,” he said.

The company intends to boost the initiative with financial and technical support.

According to Daneluci, US$50 million will be injected as the first tranche towards the project within the next four or six months once all the paper work is done.

In terms of technical support, Costa Negócios will provide equipment and technical staff.

“There is what we call a technology package whereby we will be bringing farm equipment for small scale farmers. As you know, Brazil is very good in producing farm machinery and we want Malawians to benefit from this,” he said.

Costa Negócios works in Brazil, Latin America, Africa and Europe.

In Africa, the company is largely operating in Angola with other projects in Mozambique and Equatorial Guinea.

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17 Comments

  1. Hahahahaa that’s abig jockey bolaniso mr jokose,ife mmalo mopanga zamafuta tukalimbana ndi mazi,tayiwala kuti kamuzu ankamanga ma dam mmalo mosagwilisa bwino ntchito nyanja

  2. Nothing can happen,,,,,we are tide with nosense ,,,,just stop telling us ,,if so let Brazilian company’s they must come and do it for themselves,,,not with our government they gonna swindle it,,,,,

  3. that’s why we will remain poor, all the time waiting for others to come invest here and boost our sectors. can we fail to source 50,000,000usd and boost those sectors ourselves?

  4. The madala is the only solo beneficiary of that 50 mita, plus his close buddies. No ordinary mlimi will benefit from that

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