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.
