Africa-Press – Malawi. Malawi Stock Exchange-listed NBS Bank on Friday partnered Opportunity International, a global nonprofit organisation that creates opportunities for entrepreneurs, to support smallholder farmers in accessing capital.
The deal comes as the financing gap in the agricultural sector remains wide, especially for smallholder farmers.
NBS Bank Chief Wholesale Banking Officer Alfred Nhlema said through the agreement, the bank is geared to de-risk smallholder farmers and give them a chance to easily access finance.
“This agreement is about de-risking rural smallholder farmers. Most of them do not have access to formal finance.
“This is a process of transforming the farmers to be able to get equipment and start mechanised farming. The farmers are going commercial,” Nhlema said.
Among other interventions, Opportunity International capacitates rural farmers, making them bankable.
Commenting on the agreement, Opportunity International Head of Agriculture Financing Timothy Strong said the arrangement would enable farmers to access finance for their growth and development.
“In order to give farmers what they need, and fill in the gaps, this is the place where we need to work together.
“There is a massive opportunity in the agriculture sector, but the real value is to provide aggregation for smallholder farmers,” he said.
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