Agcom ll disburses K4.3bn

Agcom ll disburses K4.3bn

 About 41 agricultural production groups received cheques on Friday at Malembo in Mangochi for matching grants worth K4.3 billion from the Agricultural Commercialisation (Agcom) programme.

This is a second disbursement after K2.2 billion was paid out during the launch of Agcom ll in November last year in Ntchisi District making a total of K6.5 billion so benefiting 63 production groups.

Agcom national coordinator Ted Nakhumwa explained that the beneficiary groups were carried over from Agcom l programme.

He said: “These groups successfully applied for the grants under Agcom l, but we had run out of funds.

“So, we decided to start with them in Agcom ll.”

Some of the beneficiries of the Agcom II project pose with their dummy cheques

Nakhumwa further explained that under Agcom ll, which is worth $295 million (about K500 billion), there are three disbursement windows that include production, value addition and off-taker financing that have respective ceilings of $150 000 (about K262.6 million), $300 000 (about K525.3 million) and $500 000 (about K875.5 million), respectively.

Meanwhile, Agcom has called for new applicants to make their business proposals and access the grants from the second phase that runs until 2029.

Speaking at the event, Minister of Agriculture Sam Kawale said the Agcom project was set to develop agricultural value chains and increase production to boost local food and raw material supplies and for exports.

Before the cheque presentation ceremony, the minister visited one of the past Agcom beneficiaries, Khamalathu Cooperative, which accessed K143 million to start goat farming in 2022 under Agcom l.

The group has since also ventured into cattle farming at the 19-acre farm and is now hoping for a loan to venture into value addition

The post Agcom ll disburses K4.3bn first appeared on The Nation Online.

The post Agcom ll disburses K4.3bn appeared first on The Nation Online.