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The Centre for Agricultural Transformation (CAT) and National Bank PLC have signed a Memorandum of Understanding (MoU) to improve agricultural productivity, technology adoption, financial inclusion and market access for smallholder farmers in Malawi.
The collaboration will leverage the expertise of both institutions to support crop diversification, increase farmer incomes, and boost the development of Malawi’s agricultural sector.
At a signing ceremony held at the National Bank’s office in Lilongwe last week, CAT Executive Director McLeod Nkoma stressed the significance of the partnership in transforming smallholder agriculture in Malawi.
“This partnership is an important step towards transforming Malawi towards smallholder farmers. In order to develop the agricultural sector, we need partnerships like this to support our smallholder farmers,” he said.
Dr. Kwanele Ngwenya, Chief Executive Officer of the National Bank, stressed that the signing of the MoU marks a major step forward for Malawi towards its goal of achieving inclusive prosperity and self-reliance by 2063. “Let us focus on inclusiveness, sustainability and shared prosperity, creating opportunities for farmers and providing them with the resources, knowledge and support they need to thrive,” he said.
Dr. Ngwenya also noted that NBS Bank will play an important role in providing customized financial products to commercial farmers, medium-sized farmers, agribusinesses and smallholders.
“Our goal is to design financial solutions that meet the unique needs of our agricultural clients, enabling them to invest and expand their operations,” he explains.
The partnership will involve several initiatives, including expanding CAT-Bunda Smart Farms’ land for technology demonstrations, farmer training, and irrigation development; providing tailored financial products for farmers and agribusinesses; connecting farmers to suppliers and markets; conducting value chain studies; sharing knowledge through publications and conferences; and joint resource mobilization efforts.
The collaboration is expected to positively impact over 30,000 smallholder farmers by improving their knowledge and skills, enhancing financial capacity and market access, adopting innovative agricultural technologies, diversifying their crops, increasing incomes, and boosting overall growth in Malawi’s agricultural sector.
CAT is a centre of excellence in agricultural science, technology and market systems, helping smallholder farmers in Malawi make data-driven decisions to improve their livelihoods. NBS Bank, on the other hand, is Malawi’s leading retail and corporate bank, offering a full range of banking services with the goal of becoming Malawi’s top food and agribusiness bank.
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