Sunday, 30 April 2017

Industry Captains implore Malawian farmers to explore regional markets

Written by  Timothy Kateta Mar 06, 2017

Players in the financial sector believe maximizing agricultural production for regional markets could boost the country’s economy.

Malawi is currently facing economic challenges which are affecting the livelihood of ordinary citizens.

The inflation rate is still high with most households living on less than a dollar a day.

Tobacco which remains the main stay of the economy with a contribution of about 65% of foreign exchange reserves has also been facing challenges on the global market.

This is due to the anti-smoking campaign championed by the World Health Organization-WHO.

But Speaking to Capital Fm, Managing Director of NEDBANK Malawi, Paul Guta, stresses that farmers need to increase production, to take advantage of emerging markets in the region.

“Starting from Tanzania, Kenya, Uganda going up there, the country’s in the equator are struggling, that is where our opportunity is, if we can increase our production now and start thinking beyond Malawi and say where are our markets” Said Guta.

He further said high expectations among farmers of a bumper yield this year may mean nothing if they see Malawi as the only market for their produce.

“If you look at maize production it will be high and now if you begin to look at Malawi as your market, you are going to get peanuts but if you explore markets in other country you will make money and that is what will make this country move” Added Guta.





Last modified on Monday, 06 March 2017 09:41

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