By Linda Kwanjana

Malawi President Dr Lazarus McCarthy Chakwera has commended the opening of a $100Million  Bakhresa Soya extraction and vegetable oil refinery which will help in saving forex for the country.

Speaking during the commissioning of the plant, Chakwera said was so delighted to see the plant commissioned saying will do a lot in social , political and economic growth.

“What this factory does is to save Malawi millions of dollars in forex because of all the things made here that we do not
have to import from other nations. What this factory does is to employ over 300 people, thus supporting their families
with an income for feeding themselves, paying rentals, and educating their children,” he said.

The president said this factory will provide our farmers with a ready market for their soya, because this plant is effectively an off-taker of what they
grow, because as much as 180,000 tons of soya can be supplied to this factory every year.

The investment speaks to pillar 2 of the country’s development blueprint, Vision Malawi 2063 Agenda, which focuses on industrialization as a key component to creating jobs.

The development means a boost to the government’s effort to spur the economy as it provides a ready market for oil seeds such as Sunflower and Soya beans.

The investment is also expected to stimulate farmers across the country to embrace crop diversification and grow more Soya beans because of the readily available market at Bakhresa. On the other hand, the coming in of the new facility is also expected to bring about competition in the cooking oil retail market.

President Chakwera was welcomed on arrival by Minister of Trade Engineer Vitumbiko Mumba and several top government officials. Upon his arrival, the Malawi was first briefed about the facility, unveiled the plaque, and toured the oil refinery packaging section before signing the visitor’s book.