By Wezzie Gausi:
The Ministry of Finance and Economic Affairs has released K47 billion for the purchase of maize.
The Agricultural Development and Marketing Corporation (Admarc) has received K25 billion while the National Food Reserves Agency (NFRA) has received K22 billion.
In an interview, Secretary to the Treasury Betchani Tchereni said Admarc has just received part of the money that was allocated to the entity while NFRA has been given the whole allocated amount.
Tchereni, however, warned the two entities to use the money prudently as the country will need to be food sufficient.
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“The money that has been released is not meant for allowances or trips or meetings but the funds are specifically meant for the purchase of grains in the country.
“In the past, there has been an outcry that Admarc is always late to buy maize; so, this time around, we wanted to act with urgency so that the two entities should be out there buying maize before vendors flock to the communities,” Tchereni said.
In an interview, Admarc Chief Executive Officer Dan Makata confirmed that the entity has received the funds.
He said Admarc will start buying maize on May 6 in all its markets across Malawi.
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“We are set to start the procurement of maize, having received the funding. By May 6, people will be able to go to any Admarc market country wide and sell their produce.
“We are grateful that this year the process will start in good time and we believe we will be able to procure more maize,” Makata said.
In the 2024-25 national budget, Admarc is given K50 billion of which K40 billion is meant for recapitalisation and K10 billion for buying farm produce.
The Treasury also maintained the allocation of K12 billion to NFRA for the procurement of grains in this financial year.
This comes as Malawi faces a K600 billion deficit to offer relief support to more than two million Malawians facing hunger.
The country needs about K780 billion.
Earlier last month, President Lazarus Chakwera declared a State of Disaster in 23 of the country’s 28 districts as they were affected by El Nino weather condition which has led to a slump in agricultural output.
