In order to increase agricultural productivity, Government through the Ministry of Finance says government will increase funding for the farm inputs loan facilitated by National Economic Empowerment Fund Limited (NEEF).
According to the Minister of Finance, Simplex Chithyola-Banda, who visited NEEF farm inputs loan beneficiaries in Mchinji district, government will increase funding to ensure more farmers access loans.
“This is something that we need to sustainably finance because the pilot has proven successful. You can also bear witness with me that the farmers who got the loans have demonstrated proper utilisation,” he said.
Chithyola-Banda also urged Members of Parliament to support the vote for increased funding as it is beneficial to the country.
In his remarks, Minister of Agriculture, Sam Kawale, highlighted that government is working on expanding available markets and ensuring farmers have more options for selling their products beyond Admarc and National Food Reserve.
Kawale also said that government has partnered with Pyxus, Paramount Holdings, and Nasfam to buy various crops at profitable prices for farmers.
“The Ministry of Agriculture is working tirelessly to empower more farmers to access these loans in response to Malawians’ demand to transition into more commercialized farming,” said Kawale.
Meanwhile, one of the farmers, Simon Zimba, who obtained a 6 million kwacha loan from NEEF said the loan enabled him to cultivate 10 hectares of maize, 2.5 hectares of groundnuts, as well as 1.5 hectares of tobacco and he projects a realization of over 16 million kwacha from his produce.
