Malawi launches $95 million Agriculture Commercialisation Project
London, Jan. 15, 2020 (altAfrica)-Malawi President, Peter Mutharika has officially launched the $95m Agriculture Commercialization Project (AGCOM) project in Malawi.
The fund for the project was a loan facility from the World Bank expected to service the nationwide project projected to run until 2023.
According to media reports, the Ministry of Agriculture, Irrigation and Water Development will be charged with the implementation of the funds. President Mutharika said AGCOM is aimed at transforming the agricultural smallholder sub-sector from currently subsistence to commercial orientation.
The Agriculture Commercialisation Project is aimed changing the country’s current situation whereby most Malawians lack adequate capital to invest in agriculture while those able to lack access to markets, in addition to poor storage and processing systems and poor transportation network.
The Minister of Agriculture, Irrigation and Water Development, Kondwani Nankhumwa, said AGCOM is aimed at increasing productivity and diversifying both the food and export base of the country. As such, the main objective is to increase commercialization of agricultural value chain products.
The project, according to the minister, is being implemented through supporting the incorporation of small-scale and emerging farmers into value chains.
This, he added, would be accomplished by improving their capacity to finance and execute investments that will enhance their productivity. This is while enabling them to respond to the requirements of end-markets and buyers.
He also added that AGCOM will train and build smallholder associations into vibrant cooperatives in order to establish and enforce a business mindset. Nankhumwa said implementation of the project has already started and there is good progress so far.