By Kingsley Jassi:
A United Nations Development Programme (UNDP) report on Malawi SDG Investor Map has revealed that the country is losing out on at least $480 million in rice export opportunities due to underproduction despite a confirmed market.
The report says Malawi only has 2.5 percent supply capacity.
The report, released this week, has identified five priority sectors and seven Investment Opportunity Areas (IOAs) that would accelerate Malawi’s economic transformation and enable the attainment of development goals.
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These sectors include infrastructure, food and beverages, renewable energy, services and financials, all requiring investment to unlock opportunities.
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The report also shows that legumes, including dried, shelled, split and skinned varieties, currently have an export value of $24 million, with an unrealised export potential of $69 million.
“The expansion of soybeans production has emerged as the second-largest export and, currently, the most advanced value- adding sector in Malawi,” the report reads.
Currently, according to the findings, Malawi is importing about 20,000 metric tonnes of bananas valued at almost $12 million annually, a commodity that the country could easily produce domestically.
Minister of Finance, Simplex Chithyola Banda, commenting on the recommendations, said the ministry was a key partner in the research and would ensure that the government implements them as they align with its development strategies.
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“The ministry has made great strides in efforts aimed at attracting investors into the economy through fiscal incentives and, together with other stakeholders, [we] will ensure that the SDG Investor Map is translated into reality,” his statement reads.
