Egyptian Investors'' Visit Spark Excitement For Malawi''s Tobacco Fortunes

Source from:  Ventures Africa  09/19/2014

The Malawi's Tobacco Control Commission (TCC) says its tobacco industry is set for a major boost following the visit of a group of 16 Egyptian tobacco investors who where on ground recently to explore local opportunities.

"The delegation will hold discussions with the private sector as well as government officials and other sector stakeholders. As a primary producer of tobacco, it is high time we started adding value to our tobacco," said Tobacco Control Commission (TCC) Chief Executive Officer, Bruce Munthali.

"The areas of investment to be explored include primary processing, removal of stems from the tobacco leaf as well as manufacturing of cigarettes," he added.

Malawi is one of the world's largest tobacco producers, and its economy is largely dependent on this commodity. Tobacco sales generate $165 million yearly for Malawi, making up 53 percent of the country's exports.

Malawi is also one of seven countries in the world that derive at least one percent of export earnings from tobacco. The locally sourced Burley leaf make up 6.6 percent of the world's tobacco exports and accounts for over 70 percent of Malawi's foreign earnings. Enditem