FUM calls for softening of collateral for farmers
Farmers Union of Malawi (FUM) president Alfred Kapichira Banda says banks should soften on collateral when farmers want loans.
He was speaking on Friday during the third Mzimba Agriculture Fair organised by Mzimba South District Agricultural Extension Coordinating Committee (Daecc)
“They invite farmers to open accounts with them, but, when it is time to acquire loans, they demand huge collateral. I feel the banks should soften up on collateral and allow farmers acquire loans to help them in their farming business,” said Banda.
Mzuzu Agricultural Development Division (ADD) programme manager Agnes Moyo said agriculture fairs offer farmers a platform to interact and find markets for their commodities.
Mzimba district commissioner (DC) representative Thom Nthali asked farmers to utilise the fair to market their products.
The fair was organised under the theme: Climate Smart Resilient Agriculture: A Key to Sustainable Agriculture. n