The Agricultural Development and Marketing Corporation (ADMARC) has expressed worry over the inadequate funding to the organisation which they say is crippling Operations.
Speaking after appearing before the cluster committee on Agriculture and Natural Resources, ADMARC Head of Finance, Chrissy Nyirenda, said the organisation has a loan totalling K40.7 billion that needs to be serviced.
Nyirenda who was accompanied by Ministry of Agriculture officials and workmates said the organisation has already paid some loans from the money realized through maize sales. She said ADMARC has presented a budget of K123.3 billion for the new financial year but only K4 billion kwacha has been allocated in the 2023/24 budget.
“We need more money as very soon we will start buying farm produce as well as recruitment of new members of staff,” Nyirenda said.
In his remarks, Co-chairperson of the Cluster Committee on Agriculture and Natural Resources, Sameer Suleiman, said as a cluster they support the revamping of ADMARC by giving it adequate resources agreeing that K4 billion is not enough.
On the National Food Reserve Agency (NFRA) the committee said they are disappointed with the way NFRA is conducting itself saying the entity is not serving Malawians. The committee members said the organisation does not deserve additional allocation as it has failed to utilise the K12 billion which was allocated in the previous budget.
The Smallholder Famers Fertilizer Revolving Fund of Malawi (SFFRFM) said it requires at least K90 billion to restore capacity to fulfil its mandate.
