Cotton farmers in the country can breathe a sigh of relief following the decision by state owned National Economic Empowerment Fund (NEEF) to introduce a special loan facility targeting cotton farmers.
NEEF says the loan facility can be accessed by all cotton farmers across the country with a minimum of 2.5 acres of farmland.
The organisation’s Aredit Analyst Andrew Katende confirmed the development, saying NEEF believes the product has potential to boost cotton farming and contribute to Malawi’s economic growth.
“Cotton farming is a form of business and with increased production supported by NEEF loans, lives of farmers in cotton growing districts will significantly change,” he said.
Katende has since advised cotton farmers to flock to NEEF offices for advice and directions on how they can obtain the facility.
“We are hoping to see farmers from districts such as Balaka, Mangochi, Salima, Nsanje and all districts where the crop is grown, flock to our offices,” said Katende.
Meanwhile, Cotton Farmers Association of Malawi president, Labson Zidana has commended the organization for coming up with the loan facility, describing it as a game-changer.
“I hope cotton farmers across the country will utilize this facility because it has really come at a right time,” he said.
NEEF has since set aside funds in excess of several billions to fund the exercise.
