Malawi agribusiness investment gets new impetus
June 26, 2023
21 June 2023 saw a four-part meeting designed to increase investment in small and medium-sized agribusinesses in Malawi. Using the combined convening power of Malawi Investment and Trade Centre (MITC), AGRA, the Centre for Agricultural Transformation (CAT) and CASA, over 100 stakeholders came together. They included bankers, investors, civil servants, NGOs and agribusiness SMEs. There was a particular emphasis on businesses that sourced from smallholder farmers, and which were addressing climate-smart solutions.
Agribusiness Investment Meeting
There have been a number of summits and meetings in Malawi, seeking to improve investment in the agriculture and food sectors, often without clear action plans emerging from the conversations.
Mumbi Maina Head of the AGRF Dealroom said: ‘There was clear intention to do things differently and take concrete action on the priorities that emerged from the meeting.’
The four elements of the day were:
• A 5-hour Malawi Agribusiness Investment Meeting. This produced a 10-point action plan of reforms and changes that can unlock investment in small and medium-sized agri-food companies
• The launch the Malawi National Agribusiness Dealroom. This will become the partnership vehicle to coordinate the delivery of the action plan
• An Agribusiness Investment Marketplace. This allowed 12 agribusinesses to meet with banks and other financiers to explore investment to expand their businesses
• A networking cocktail which helped to breakdown the silos between the different institutions and enterprises
Modie Chanza from the Malawi Investment and Trade Centre explains: ‘The Malawi Agribusiness Investment Meeting was a remarkable event and a light of hope for small and medium enterprises (SMEs) in Malawi. These businesses face various challenges that limit their access to finance to allow them to reach their potential. Most importantly, there was renewed commitment from Government, financing institutions, and development organisations to work together in promoting SMEs who are key players in achieving Malawi2063.
Gomezgani Kakhuta said: ‘The investor marketplace was a positive development from the CAT’s perspective. It provided SMEs and investors with an opportunity to engage in investment-focused discussions. The SMEs were able to align their financial requests with the core needs of their businesses and their operational requirements.
The engagement with investors allowed for valuable feedback on their financial requests, enabling them to make critical adjustments. The investor pack document, created for the event, will undergo further development to ensure a polished presentation of the financial ask.’
Sophie Lusungu Chitedze, AGRA Malawi Country Manager, was pleased the partners worked together on the successful events. She looked forward to continued engagement for the betterment of fellow Malawian smallholder farmers. In particular, with women-led and youth-led enterprises in agri-food sectors.
Mumbi Maina went further, saying: ‘The Dealroom team are committed to working with partners to deepen the support available to agribusinesses seeking financing. We are also committed to working closely with financial institutions to drive forwards efficiencies that reduce both the cost of transaction and the risk.’
CASA’s Alvaro Valverde said: ‘CASA is really proud to be partners with MITC, AGRA and CAT and to have delivered a very successful action-orientated meeting and Dealroom launch. The delegates at the meeting identified three priority action points to promote investments in agribusinesses in Malawi.
They also identified three critical action points to foster investments in climate adaptation in the country. The action planning process also identified which organizations need to lead on the advocacy, planning and implementation of these changes. We are now fully committed to working closely, as a partnership, to ensure that we all walk the talk.’
Full details of the event: