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MINISTER OF INDUSTRY MEETS MZUZU COFFEE PLANTERS COOPERATIVE UNION LEADERSHIP ON EDF FINANCING FACILITY IMPLEMENTATION

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Minister of Industry Honourable Roy Kachale Banda Thursday 05th August 2021 held a meeting with the leadership of Mzuzu Coffee Planters Cooperative Union Limited on the implementation of growers pay financing facility from Export Development Fund (EDF) the institution secured with support from the ministry.

In his remarks after meeting the institution’s board members at the Union’s head office in Mzuzu, the minister said he is impressed with the way the facility is being implemented.

He said he is happy that Coffee growers under the Cooperative Union are now able to get their money within two weeks after delivery of the commodity to the Union and would like to see the trend continuing.

“As government, what we want is to see growers getting paid promptly upon delivery of their Coffee to the Union and this is what is happening now, this is impressive” said Kachale.

Mzuzu Coffee Planters Cooperative Union Limited Board chairperson Rodgers Kuyokwa and Acting Chief Executive Officer Mackson Ng’ambi told the minister and officials from both the ministry and EDF that the current situation has motivated many Coffee growers who recently threatened to stop selling their Coffee to the Union and have assured the Union that they will sell this year’s harvest to Mzuzu Coffee Cooperative Union.

The leadership also disclosed that an automated factory shell under Construction at the head office, will be completed by end of this August. The factory will help in adding value to the Coffee which will be sold at the local and regional markets.

EDF Structured Trade Corporate Finance Specialist Marvin Mbaso said EDF is satisfied with Mzuzu Coffee Planters Cooperative Union Limited’s performance under the financing facility and that EDF is ready to offer more support in the area of inputs and growers pay arrears.

The Union was at the verge of closing down its operations due to huge debts and growers aparthy to supply Coffee to the Union, but the situation is now improving after securing 350 Million Kwacha financing facility from EDF which was used for growers pay last farming season.

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