NBM partners with CAT to revive banana value vhain

National Bank of Malawi plc has invested K90 million towards reviving the banana value chain in Mulanje and Thyolo Districts.

The partnership comes amid the ongoing decline of banana cultivation, which once defined these districts alongside tea production.

The initiative aims to help Malawi reduce banana imports, which currently stand at around 20,000 metric tonnes, valued at approximately $12 million annually.

National Bank plc Chief Executive Officer, Harold Jiya stated that the bank seeks to empower banana farmers by providing them with a steady supply of new, improved, and resilient varieties to support their businesses and enhance economic stability at the household level.

“As a bank, we are excited to partner with CAT to revive the struggling banana industry, which, in the long run, will reduce our dependence on imports. This not only strains our economy but also highlights the gaps in local production that we need to address,” said Jiya.

Meanwhile, the Executive Director for the Centre for Agriculture Transformation (CAT), McCloud Nkhoma, applauded the National Bank for the funding, noting that it is essential in implementing tailored agricultural solutions that help farmers adopt yield-enhancing technologies and innovations.

Nkhoma emphasized CAT’s commitment to supporting smallholder farmers by helping them diversify production and increase productivity and incomes through innovative agricultural technologies and data-driven solutions, which empower farmers to make informed decisions.

“On our side, we will provide technical agricultural support to help farmers boost productivity through demo plots established in Mulanje and Thyolo. The bank, in turn, will provide crucial financial backing to further this effort,” said Nkhoma.

Through the District Agriculture Offices in Thyolo and Mulanje, CAT has already begun identifying banana farmers, some of whom will receive training through demonstration plots allocated by the Ministry of Agriculture in these districts this farming season.

Chief Agriculture Officer in the Department of Crops, Mathias Nkhoma, described the partnership between National Bank and CAT as timely and, on behalf of the Ministry, pledged support for the initiative to achieve the desired results.

“Malawi lost its banana production prowess, and as a ministry, we are committed to ensuring the CAT Banana Project in Mulanje and Thyolo, with the support of National Bank, becomes a reality. Our extension workers are readily available for technical support,” he said.

The Banana Bunchy Top Virus, which struck in 2004, severely reduced banana plantations, leading to a reliance on imports.

The initiative to revive the banana industry aligns with the Malawi 2063 blueprint, which includes agricultural mechanization and industrialization among its pillars.