Sierra Leone and Malawi expand financing for agricultural SMEs

In Sierra Leone, the Salone Access to Finance Project—backed by the European Union and implemented by Safe Capital Microfinance and Vista Bank under the guidance of the United Nations Capital Development Fund (UNCDF) and the Ministry of Agriculture and Food Security—has enabled six agribusinesses, including Lanaya Cocoa Farmers Cooperative and Mozanga Limited, to increase production, create jobs and strengthen food systems.

In Malawi, Minister of Industrialisation, Business, Trade and Tourism Simon Itaye urged commercial banks at an agrifinance conference in Lilongwe to broaden credit lines for the agriculture sector, which accounts for about 25% of GDP. Stakeholders highlighted challenges such as stringent collateral requirements and the need for better record‑keeping by smallholder farmers. Bankers Association of Malawi chief Lyness Nkungula called for blended financing models to de‑risk agricultural lending and attract private capital, aligning with the country’s long‑term development goals.