SFFRFM to borrow K40bn for fertiliser

SFFRFM to borrow K40bn for fertiliser

Funding challenges have forced Smallholder Farmers Fertiliser Revolving Fund of Malawi (SFFRFM) to seek a K40 billion loan from National Bank of Malawi (NBM) plc to procure fertiliser to support its commercial function.

SFFRFM chief executive officer Richard Chikunkhuzeni said this in Lilongwe on Thursday when he led his team to a meeting with the Parliamentary Committee on Agriculture and Irrigation.

Chikunkhuzeni: We are engaging Treasury

He said SFFRFM has been engaging Treasury on recapitalisation to procure fertiliser for commercial purposes.

Said Chikunkhuzeni: “For this year, they [Treasury] are supporting us to borrow K40 billion from National Bank to finance the commercial fertiliser procurement.”

In a separate interview yesterday, committee chairperson Sameer Suleman said the committee supported SFFRFM’s request to be recapitalised, but added the recapitalidation should come from government.

The post SFFRFM to borrow K40bn for fertiliser appeared first on The Nation Online.

マラウイニュースメルマガ登録

メルマガ限定配信のマラウイ超ローカルニュースが無料で受け取れます

マラウイ・アフリカ・国際協力に興味があったら登録しよう!

プライバシーポリシーについてはこちらを確認してください