Malawi’s agricultural landscape is poised for transformation with a substantial $100 million (about K170 billion) investment in Affiance Limited, a joint venture between Press Agriculture and Australia’s Maysen Group Trust.
This noteworthy investment represents a significant milestone in the establishment of Africa’s largest stevia farm, located in Kasungu, southern Malawi, marking the most substantial agricultural investment in the region since 1978.
Affiance Limited successfully secured the $100 million as part of a larger $150 million capital raise, with funds sourced from initiatives in Australia, Hong Kong and the GCC (Gulf Cooperation Council). The ambitious project involves the conversion of existing tobacco farms in the Kasungu area into a sprawling stevia farm, contributing to the cultivation of Stevia rebaudiana, a plant celebrated for its natural sweetening properties.
Stevia, acknowledged as nature’s gift in the realm of sweeteners, sees its leaves producing natural extracts that serve as a sugar substitute and low-calorie sweetener. The global demand for stevia is rapidly expanding, and the project’s strategic location in Malawi positions it to tap into this growing market, where prices are on the rise.
In addition to its economic significance, the project is expected to play a pivotal role in job creation, providing employment opportunities for approximately 1300 individuals in Malawi. This infusion of capital and the transition from tobacco to stevia cultivation not only aligns with global trends towards healthier alternatives but also stands as a testament to the ongoing efforts to diversify and strengthen Malawi’s agricultural landscape.
