Mutharika says MAIIC will help create wealth, end poverty: Agriculture for transformational agenda in Malawi

President Peter Mutharika on Wednesday asked agricultural and industrial cooperatives to organize themselves if they are to benefit from investment corporations.

Mutharika launches MAIIC

Board chair of CDH Investment Vank Franklin Kennedy speaking at the launch

President Mutharika sleazing as he  launches MAIIC

Minister of Agriculture’s Joseph Mwanamvekha confers with Minister of Labour Francis Kasaila.

Some of the guest during the launch of MAIIC

Speaking in Lilongwe during the launch of Malawi Agricultural and Industrial Investment Corporation (MAIIC), Mutharika emphasized on the need for agricultural investors to mobilize themselves and make use of financial innovations government is putting in place for them.

“Malawians need to make use of the Investment Corporation. But for our people to participate meaningfully, we need to organize them. Let us move with speed to get our farmers organized,” he said.

Mutharika said with the Investment Corporation, farmers can now access credit for irrigation and value addition activities more than ever as the country is now ready to start financing commercialization of agriculture.

The Malawi leader further said with the investment corporation, farmers can form cooperatives, the only
requirement for them to start thinking big and get organized.

“I want to see fruit juices from the fruits of Mwanza. Let us see cooking oil from the sunflower of Chitipa. I want to see tinned fish from Lake Malawi. Let us see the skilled Youths of Ndirande empowered with machines to produce spare parts – which they already produce using crude means,” he said.

“The institution will mobilize financial and other resources for investment in commercially viable projects,
businesses, agriculture and industries, existing and new ones, aligned with national development priorities,” he said.

MAIIC was specifically developed to support commercially viable investments in public and private sectors of the economy to consolidate and promote growth, productivity, employment, wealth creation and broad-based economic development.

Mutharika said the institution will work collaboratively with the existing banks and financial institutions, as
a source of capital for the underserved key sectors of the economy, thereby accelerating the country’s
economic growth.

“The corporation will work autonomously with their own governance structures without interference from
government. As Government, we have taken deliberate steps to create this autonomous and commercial
institution.

“This Investment Corporation is a private-public partnership. I want it to be run on the best principles of
international practices,” said the President.

“I want to commend CDH Investment Bank for fighting with so much determination to make this happen.
CDH Investment Bank will go down in history as the bank that led the new path of investment and
creating wealth for Malawians,” he said.

Making his remarks, board Chairperson for CDH investment Bank, Franklin Kennedy, said there was a
financing gap in the private sector estimated at $4 billion.

“Therefore, MAIIC has been designed to identify, manage and mitigate risks to enable the private sector
and financial institutions to finance projects and new businesses,” Kennedy said.

He added, “Integral to its approach is to complement and add in other financial intermediaries by
providing appropriate financial and non-financial instruments.”

Kennedy said Malawi has potential to compete favourably with regional and international markets, but
said there was need to empower small and medium enterprises financially.

MAIIC has been launched after a feasibility study the Government of Malawi commissioned in 2013
showed there was great need to develop a financial institution in Malawi.

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cool heads
Guest
cool heads

This simply shows that Chilima is a great thinker – a man with a good vision for Malawi. APM and his cabinet have proved that they are just a bunch of people with no vision for Malawi…Hope this helps us as Malawians to make a right come 2019 elections. ENOUGH IS ENOUGH!!!!!!

Alamu Pumani Mwakula kuba
Guest

Is this man’s right hand okay? Is Mathyola okay? Dead men are walking.

psyuta
Guest
psyuta

The problem is that UTM Members think like mbuzi. They think every brilliant idea is stolen from their idiot Chilima. Forgetting that this idiot is the worst when it comes to stilling some peoples works . He is dull. He even stole the MCP manuscript of their manifest. Just shut up. You will not win.the elections. You do not have even a strong hold !!! I was myself involved in the feasibility study for three years, before Chilima asananyele pogona !!!

kavibangwa
Guest
kavibangwa

you truly speak like a he-goat yourself, stronghold ndekuti chani? its because of such sick minds that our country is divided in what u are purporting.

Moja
Guest
Moja

A Chilima adalakwa kukhala ndi nzeru zokuya…a Polofesa akukopera.

Sikusinja
Guest
Sikusinja

You are forgetting Chilima is in govt and was in govt. He knows what govt was planning that’s why he can say it as its own plan since he is campaigning. These are plans Goodall spoke about in Parliament if u follow Parliament deliberations. Even SKC knows what DPP was planning to put in manifesto that’s why he wanted to run as DPP candidate.

Make Malawi Great
Guest
Make Malawi Great

u dull minded do ur research again

Noxy
Guest

Way to go ife alimi tiyamba kukhala mmagulu nkuyamba kupanga zooneka.

kavibangwa
Guest
kavibangwa

Wasn’t this what SKC was saying and now the big man has borrowed the leaf.

THIRD EYE
Guest
THIRD EYE

PITALA WAKU THYOLO ALIBE MFUNDO ZAWO AKHALIRA KUKOPERA ZA CHILIMA, DPP CAN NOT WIN WITHOUT CHILIMA, THATS WHY SKC SAID IT BEFORE THAT HE WAS THE MASTER MIND OF THE 2014 RESULTS

KABONI NI MTIMA
Guest

Why killing Malawi rural finance company as it was more of the same thing

Kawawa
Guest
Kawawa

Let us hope that this MAIIC will really have an autonomous governance structure completely free from political interference. Let’s hope that the Board and Management of this organisation won’t be staffed (and stuffed) by 100% Mulhako or DPP. By the way, what’s the ownership structure of CDH like? Isn’t this the organisation that Mwanamvekha used to work for before he became a politician? Was he just an employee or a shareholder as well? Please take note that these are genuinely innocent questions. I am just curious.

JAFALI
Guest
JAFALI

ANOTHER STONE !?

Zimbo
Guest
Zimbo

Maliseche akutiuza zomwe wakhala akunena Chilima. Alibe mfundo zache

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