Mpasa Holdings Limited and the Greenbelt Authority have signed a shareholding agreement to form a joint company that will see the two parties working together in implementing irrigation and livestock agriculture projects.
According to the parties, the venture is one of its kind involving a local company with great capability of contributing to the drive to escalate agriculture commercialization and large scale irrigation productivity.
Board Chairperson for the Greenbelt Authority Wester Kosamu has told MIJ Online that this is part of the mega farms drive in achieving food security and social economic development.
“From this agreement a new company named Mpatsa Greenbelt Mega Farm Limited will be born and into government will pump 40 percent and Mpatsa 60 percent of investment, ” said Kosamu.
According to Kosamu, the venture is very beneficial to Malawians as it involves a Malawian company which will better serve the interests of Malawians.
The Mpatsa Greenbelt Mega Farm Limited is expected to champion production of high value crops at Khonjeni in Thyolo and cooking oil production which will be done at Namadzi in Chiladzuru District.
Chairman for Mpatsa Holdings Limited Jimmy Korea Mpatsa expressed excitement with the deal saying it signifies the trust that Malawi Government has given his company to be part of the developmental agendas the country is implementing.
He said operations under the new company will mainly focus on producing to end hunger and earn forex for the country through exports of farm produce.
Meanwhile the partnership company is expected to start growing winter maize at the 700 hectares mega farm in Khonjeni by August this year prior to an official launch of its works.