Kumbemba:value-added products ventures remain the challenge for the country to acquire enough export revenues

LILONGWE-(MaraviPost) – The Malawi Investment and Trade Centre (MITC), is to align 30 local exporting companies to financiers and quality assurance institutions for the promotion of value-added products.

The development comes amid the general outcry of that the quality of local products quality fail to meet international standards; if improved these could fetch more revenue for the country’s economic growth.

Through the Enhanced Integrated Framework (EIF) program, MITC is promoting value-added products via the Nacala Corridor route to Malawi’s regional markets that comprise of Mozambique, Zambia, South Africa, DRC, Zimbabwe, and Tanzania.

Since the inception of EIF, which MITC in conjunction with National Association of Smallholder Farmers in Malawi (NASFAM), is implementing. It is expected the program, will improved access to market information within three years of its life span.

However, information inaccuracies for product markets, lack of financiers, and substandard products, are said to impede Malawi’s export value-added products.

This is the reason MITC has intensified awareness campaign drive on value-added export, following COMESA and SADC’s demand for Malawi’s products.

In an interview with The Maravi Post on Thursday, during the two-day export development seminar in the capital Lilongwe, MITC Chief Executive Officer, Clement Kumbemba said that value-added products ventures remain the challenge for the country to acquire enough export revenues.

Kumbemba disclosed that about 30 local export companies will align to financiers for funding in boosting their value-added products.

He said some viable firms are failing to produce quality products due poor quality of machinery, which impede their production.

“We want these 30 export firms to get the much needed support by linking them with potential local and international financiers, to produce more quality products that attract foreign markets.

“Therefore, these seminars are there to give the platform for all players in the exporting sector including agro-processors, government agencies that handle quality assurance, such as the Malawi Bureau of Standards (MBS); that they share best practices for the promotion of value-added products,” said Kumbemba.

Echoing on the same, Joseph Mkandawire, Director of Administration and Finance in the Ministry of Trade and Industry, encourage local exporters to produce bankable businesses that attract international financiers, which will be a recipe for the country’s economic growth.

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