A Brazilian company plans to invest in the mining and agriculture sectors in Malawi.
Costa Negócios, a Brazilian company working in commercial exporting, agribusiness and industrial building disclosed this through its Chief Executive Officer responsible for Africa, Danilo Danelucci, on the sidelines of an audience the company had with President Prof. Arthur Peter Mutharika at Hilton Midtown Hotel in New York, USA.
Danelucci said the company will firstly invest in the agriculture sector with the Greenbelt Initiative as its primary target.
“We met with the president to talk about opportunities in Malawi especially the Greenbelt Initiative. Our company like to empower small scale farmers and we see the Greenbelt as a potential project to develop agriculture in Malawi especially for small scale farms,” Danelucci said.
The company intends to boost the initiative with financial and technical support.
“We are injecting US$50 million as the first tranche towards the project and this will be done within the next four or six months once all the paper work is done,” he said.
In terms of technical support, Costa Negócios will provide equipment and technical staff, according to Danelucci.
“There is what we call a technology package whereby we will be bringing farm equipment for small scale farmers. As you know, Brazil is very good in producing farm machinery and we want Malawians to benefit from this,” he said.
Costa Negócios works in Brazil, Latin America, Africa and Europe. In Africa, the company is largely operating in Angola with other projects in Mozambique and Equatorial Guinea.