USCA-COFI empowers Cannabis farmers

United States Cannabis Association (USCA), a Company which has signed a contract with farmers as off taker,  is expecting  more  Cannabis registered Cooperatives to grow  Cannabis after Community Financing institution (COFI) promised to give inputs loan to every qualified Cooperative last Wednesday in Blantyre.

Chairing the meeting, USCA Director of Operations,  Oliver Ndlovu discussed the meeting as fruitful to farmers from Southern  region and whole Malawi as many farmers were not in operation due to lack  of greenhouses and other necessities.

Ndlovu also stated that the collateral that COFI demands from farmers is the farmers to have land.

“USCA is very aware that most of farmers are not well to-do hence empowering them to get loans to continue farming,” said Ndlovu.

Presenting the key requirements and loan conditions to the farmers COFI potfile consultant , Robert Gondwe, said the Company  is wiling as yesterday to give farm  inputs loans,” Said Gondwe.

“We are  coming in as a limited  Company  not as an NGO , so this is why we have put reasonable interest and accepted by Reserve Bank of Malawi that our farmers can aford.  as COFI, we  are ready to provide loans to farmers as many as possible who have  key requirements  like land, license, cannabis agronomic capability and  reference letter from their fellow Cooperatives. We are encouraging our farmers to visit  us for more loan details,” he said.
 
speaking to the media present at the meeting, Chairperson of Vision Commercials  Woomecin, Patricia Chisi said they have understood terms and conditions of the loan presented at the meeting and as Cooperatives they will table the issue.

“we have much faith in  COFI which has come as a risky taker cannabis being a new crop in Malawi and after a rejection  from different Banks and money lending institutions. They have assured us with inputs loan payable  within  an year. Nevertheless, We thank USCA for linking  us with COFI which has shown that they really  care about  us,” said Chisi.

Currently, USCA has just launched Cannabis growing  in Kasungu and the distribution  of  seeds will be across the country  to farmers with greenhouses and  other necessities.