By Wezzie Gausi:
The Ministry of Agriculture has launched a booklet which incentivises agricultural diversification and commercialisation.
The booklet enlightens people on tax incentives available in the sector.
The Malawi 2063 (MW2063) and its First 10-Year Implementation Plan (MIP-1) identifies agriculture productivity and commercialization as one of the key pillars for transforming the economy to achieve lower middle-income status by 2030.
Speaking at the launch in Lilongwe on Wednesday, Minister of Agriculture Sam Kawale said the booklet serves as a beacon, guiding investors through the fertile grounds of government incentives designed to cultivate success and yield abundant returns across various agro-enterprises.
He said through the initiative farmers will have a provision of tax reliefs.
“These incentives are not mere deductions but powerful tools to enhance profitability and ensure long term sustainability. By reducing the fiscal burden, investors can reinvest in operations, drive innovation, and foster a cycle of growth that benefits all,” Kawale said.
Ministry of Finance and Economic Affairs Chief Economist Waziona Ligomeka said the tax incentives were developed by the ministry but they are being implemented by Malawi Revenue Authority.
He said these incentives are in the taxation act and there is a need to publicize them for people to be able to utilise them.
“These incentives are reviewed every year and new ideas are always welcomed. Let people make use of these incentives and bring back feedback to us for improvement,” Ligomeka said.
Mtendere Cooperative Chairperson Peace Jere said the incentives would lessen the financial burden that farmers have.
She said the initiative will help farmers to now venture into commercial farming.
The Ministry of Agriculture will translate the booklet into local languages and will need support from all stakeholders to take it to rural areas.
The tax incentives can only be accessed by registered persons or entities like cooperatives, farm organisations and others.
