Standard Bank has given out various prizes to 92 tobacco farmers in the first draw of its MlimiAlirenji promotion, an initiative that was rolled out to support farmers with farm inputs in preparation for the next growing season.
Head of Global Markets at Standard Bank, Lesego Osman, said the promotion forms part of the bank’s initiatives to contribute to the long-term health of the tobacco industry.
“These prizes aim to support production and processing of tobacco in the next season. Our goal is to contribute to promote sustainability of Malawi’s tobacco industry. This is in view of its strategic importance to the economy,” he said.
The promotion has been designed to offer tobacco growers a higher margin when they deposit and process their proceeds from tobacco through Standard Bank.
During the draw, 20 growers won hesian sacks, two won bailing jacks, 10 won solar power banks while 60 others won Standard Bank branded consolation prizes.
To stand a chance of winning, tobacco growers need to receive their proceeds from the auction floors using Standard Bank accounts. Draws for the promotion will be conducted every fortnight at which assorted prizes will be won. The grand prize is a brand new tractor worth K16 million.