Govt launches Agribusiness Deal Room to spur agricultural growth, economic prosperity

Malawi: Malawi's Minister of Agriculture, Lobin Lowe, says the launch of the Agribusiness Deal Room will facilitate the engagement of key players in the agricultural sector and the Malawi economy, writes Watipaso Mzungu.

The initiative aims to create partnerships that will drive agricultural growth and, as a result, economic prosperity.

The Agribusiness Deal Room's theme is 'Bold Actions for Increasing Investments in Malawi's Agribusiness Development.'

With over 80% of Malawians employed in agriculture, Malawi can no longer afford to play games with agribusiness development, according to Lowe.

The minister made the remarks while leading a high-level delegation from the Alliance for a Green Revolution in Africa (AGRA), government, and local non-governmental organizations (NGOs) in launching the room at the Capital Hotel in Lilongwe on Wednesday evening.

According to Lowe, the launch of the Agribusiness Deal Room demonstrates President Dr. Lazarus Chakwera's and his government's commitment to ensuring adequate engagement in addressing Malawi's agricultural development challenges.

"I am thus delighted that today I can witness the launch of this Agribusiness Deal Room, which will enable us as key players in the agricultural sector and the Malawi economy to engage and strike partnerships to drive agricultural growth and, as a result, propel economic prosperity," he said.

Lowe went on to say that the Chakwera administration is dedicated to achieving food security and shared economic prosperity for Malawians, as outlined in the Malawi 2063 Agenda.

Agriculture commercialization and industrialization, according to Lowe, will be critical in delivering government wishes to the people.

The theme of the Agribusiness Deal Room, according to the minister, resonates well with the ministry's and President Chakwera's aspirations to build a prosperous Malawi for all.

"We have spent the last two years in office focusing on laying the groundwork." With the assistance of partners such as AGRA, we have embarked on significant policy reforms aimed at creating a favorable environment for agricultural trade. As I speak, we are reviewing the National Agriculture Policy in order to align it with our long-term ambitions for Malawi 2063," he explained.

He also stated that his ministry is working on the Fertilizer Bill and the Crops Bill, which is a combination of the Special Crops Act and the General Purposes Act.

At this point, Lowe assured private partners that the government would investigate the Crops Bill concerns.

Earlier, AGRA Board Chairperson Hailemariam Dessalegn stated that Agribusiness Deal Room assists enterprises and governments through a combination of in-country project preparation, pipeline development, project bankability, investment promotion, and discussions about the African agribusiness sector's enabling environment.

Dessalegn, a former Ethiopian Prime Minister, stated that the in-country launch of the deal room will allow Malawi to showcase both public and private sector opportunities to investors, financial institutions, development partners, and other stakeholders looking for partnerships.

"In addition to the showcase, it will be an opportunity to deepen engagement with these actors and mobilize additional investment and partnerships to the country."

"Agribusiness Deal Room facilitates substantive transaction-centered dialogue and connections among key stakeholders such as enterprises, farmers, governments, investors, financial institutions, non-governmental organizations (NGOs), and development partners," he said.

Dessalegn revealed that the previous 2021 Agribusiness Deal Room hosted strong country delegations from both the public and private sectors, who presented investment opportunities in the agriculture sector from across the continent.

He stated that these opportunities drew significant investor interest from a diverse range of investors and landscape partners.