Minister of Finance, Simplex Chithyola Banda, has commended the National Youth Council of Malawi (NYCOM) for empowering youths pursuing agriculture with financial support, which he says is crucial in boosting productivity.
Chithyola Banda made the remarks during the launch of a K100 million youth agricultural cooperative grant in Lilongwe, funded by the Malawi Government.
He has called on the youth to use the grant efficiently.
Executive Director for NYCOM, Rex Chapota, said the funds will play a crucial role in transforming smallscale enterprises into medium and large enterprises, benefitting their communities in return.
The grant, a pilot phase, is expected to expand to K1 billion in the 2025/2026 financial year. 18 youth agricultural cooperatives from various agricultural value chains have been selected to benefit from the grant.
By Gracious Banda
