Malawi will soon have its fertilizer manufacturing plant; President Peter Mutharika disclosed this at a news conference which held at Kamuzu Palace in Lilongwe on Tuesday.
Malawi is currently spending billions of Malawi Kwacha’s importing fertilizer for the Farm Input Subsidy Programme.
Economic expert argue that price of fertilizer can drastically drop if the commodity can be manufactured locally.
Mutharika said he is in serious talks with a United States business magnate George Soros, who is also chairman of Soros Fund Management to have a fertiliser plant in Malawi.
The initiative of bringing fertilizer manufacturing company was first hatched by the late president Bingu wa Mutharika. He went ahead to launch the initiative at Kanengo Industrial area.
The President said he had a meeting with Soros who indicated that he can assist in providing expertise in finding a company to manufacture fertilizers in Malawi.
“With regard to the provision of subsidized farm inputs, Mr. Soros indicated that there is a possibility of finding a company to manufacture fertilizers in Malawi,” said Mutharika.
Mutharika said Soros has also pledged to provide financial and technical expertise in areas that include early childhood development, maternal health, housing, financial management, management of extractive industries and natural resources governance.
The President disclosed that he has invited Soros to visit Malawi.