Saturday, January 23, 2021
  • About Us
  • ImagiNATION
  • Adverts
  • Rate Card
  • Contact Us
The Nation Online
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home Business Business News

RBM optimistic $1bn new exports achievable

by Johnny Kasalika
28/03/2012
in Business News
2 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

felix jumbe | The Nation OnlineReserve Bank of Malawi (RBM) says the country is on course to meet the S1 billion (K167 billion) target in export earnings come December 2012.

RelatedHeadlines

Firm outlines 3 economic risks

NSO set for another GDP rebase in 2022

Income rise fails to narrow poverty gap—economist

RBM spokesperson Leslie Mkandawire was responding to a questionnaire on Monday regarding the Export Development Fund (EDF), a private sector driven initiative aimed at supporting exporters to generate more forex for the country.

“With the support the EDF is getting from all stakeholders, the targeted US $1 billion is likely to be met by end of the year. The EDF has received applications from several associations and enterprises,” said Mkandawire.

Funds amounting to K25 billion (about $150m) were set aside to be loaned out to farmers and other export traders under the EDF with the aim of generate more forex for the country.

The idea is to widen the country’s export base in order to generate more forex which has been in short supply in the past two years, affecting the purchase of essential commodities such as fuel, fertiliser and drugs.

Farmers Union of Malawi (FUM), the organisation facilitating the processing of farmers’ loans under the EDF, is currently sensitising farmers across the country on what should be down to access the loans.

Malawi is promoting exports for non-traditional agricultural crops such as groundnuts, soya and pigeon peas which are said to have huge markets outside the country.

There are markets for pigeon peas in India and for groundnuts in Kenya and Uganda which Malawi can capitalise on.

FUM president Felix Jumbe said so far, they have been to Chitipa, Karonga, Mzimba and Mzuzu and they will soon be in the Central Region telling farmers to strategise on how they can start producing the non-traditional export crops.

“We are profiling farmers across the country and the commercial wing of FUM will soon start drilling farmers in export orders, business planning and other issues of quality to meet specifications of export markets,” he said.

Previous Post

Chidale defends Big Brother Championship

Next Post

Study blasts food certification schemes

Related Posts

economy | The Nation Online
Business News

Firm outlines 3 economic risks

January 22, 2021
Most rural people such as these 
live in abject poverty
Business News

NSO set for another GDP rebase in 2022

January 22, 2021
poverty 1 | The Nation Online
Business News

Income rise fails to narrow poverty gap—economist

January 22, 2021
Next Post

Study blasts food certification schemes

Trending Stories

  • Not yet given retirement benefits: Mutharika

    Tonse faulted on former presidents’ benefits

    0 shares
    Share 0 Tweet 0
  • FAM ex-co approves women’s national league

    0 shares
    Share 0 Tweet 0
  • High-profile official angered Wirima to quit

    0 shares
    Share 0 Tweet 0
  • Covid-19 initiative raises K18.3m in 2 days

    0 shares
    Share 0 Tweet 0
  • Biden becomes 46th American President

    0 shares
    Share 0 Tweet 0

Opinions and Columns

These Freedoms

Where is God in the Malawi Vision 2063?

January 22, 2021
Business Unpacked

Towards Malawi2063, lessons from Vision 2020

January 20, 2021
Rise and Shine

Never give up on resolutions

January 20, 2021
In pursuit of development

India’s vaccine drive

January 20, 2021
  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2021 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.