NBS Bank Secures $5 Million Investment to Boost Malawi's Agricultural Sector

 NBS Bank plc has secured a significant investment of $5 million from EDFI Management Company (EDFI MC), a Belgium-based impact asset manager. This strategic investment is part of the EU-funded Agriculture Financing Initiative AgriFI, aiming to support the diversification of Malawi's agricultural sector and contribute to the country's economic development.



According to Kwanele Ngwenya, CEO of NBS Bank plc, this investment will enhance the bank's support for agricultural businesses and smallholder farmers, providing them with necessary resources and financing to expand processing capacity, improve productivity, and livelihoods. The bank is pursuing an ecosystem approach, focusing on key agricultural value chains, such as tea and macadamia, to drive sustainable growth in the region.


EDFI MC CEO Rodrigo Madrazo emphasized the investment's impact on smallholder farmers, stating that it will enhance productivity and livelihoods while driving sustainable growth. OACPS Expert Yvonne Chileshe also expressed support for the investment, highlighting its alignment with the organization's mission to facilitate access to finance for the "missing middle" and promote sustainable development.


Notably, NBS Bank plc also acquired a $5 million loan from the International Fund for Agricultural Development (IFAD) in 2023, aiming to provide specialized financial services and support to agricultural businesses.


This investment is expected to have a positive impact on Malawi's agricultural sector, contributing to the country's economic growth and development.

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