MMC laboratories Limited (MMCL) in partnership with Export Development Fund, Mbabzi Estate and Malawi Agriculture and Industrial investment Corporation has launched a $10 million project (approximately K17 billion), which will see the establishment of a cannabis products processing factory in Lilongwe.
The facility will produce, extract, export and sell cannabinoids, including wellness products and Active Pharmaceutical Ingredients to the global market.
Christina Zakeyo, Secretary for Trade and Industry in the Ministry of Trade and Industry, said the project will benefit local farmers as they will have access to markets, employment and room to diversify instead of depending on tobacco only.
According to Managing Director of Export Development Fund, Fredrick Chanza, once the project is completed, it will have potential to produce $300 million (approximately over K520 billion per year.
The design of the project is to meet European and global standards and according to the plan, it will be commissioned next year.
