Malawi, Afrexim Bank to Implement Mega Farm Initiative
Malawi's Minister of Agriculture meets Afrexim Bank President to discuss agricultural development.
Accra, Ghana —On Sunday night, Malawi's agriculture minister, Sam Kawale, met with President Lazarus Chakwera, other Cabinet ministers, and Afrexim Bank President Oramah and his team, Winston Mwale writes.
The meeting was on the sidelines of the bank's 30th anniversary.
The Malawi government and Afrexim Bank are working together on the Mega Farm Initiative in Malawi, which aligns with Chakwera's vision of achieving food security, wealth creation, and job opportunities through agricultural mechanisation and industrialization.
Minister Kawale said Afrexim Bank presented several proposals to the Malawi government, including financial advisory value propositions, indicative implementation methodologies, funding and risk-bearing possibilities, and export development and intra-African trade advisory services.
"We are excited about the partnership between the Malawi government and Afrexim Bank. The Mega Farm Initiative aims to develop over 50,000 hectares of arable land, promoting crop production in rice, maize, soybeans, cotton, and livestock. This will not only enhance export revenue but also strengthen our food security," Kawale said.
The collaboration seeks to enhance intra-African trade, industrialization, and export development.
Afrexim Bank has a global network and sector-specific expertise to provide strategic options and advisory services for the project.
"Afrexim Bank's commitment to Africa's development ensures that we will receive funding solutions and cutting-edge advisory services to facilitate the sustainable implementation of the Mega Farms Initiative. The bank has access to liquidity pools and capacity for underwriting multimillion-dollar facilities," Kawale said.