* To support LUANAR’s 3 key strategic initiatives of eco-forestry & tourism development; solar energy infrastructure project and innovation challenge supporting scholarships, intellectual property filing and endowment fund
* Invests US$120,000 in the next three years with approximately US$40,000 to be disbursed each year towards under the three strategic initiatives
* We are delighted the last MoU we signed provided growth for all parties involved and we trust that our continued partnership with LUANAR will result in greater developments
By Duncan Mlanjira
The 2023-2025 memorandum of understanding (MoU) that CDH Investment Bank (CDHIB) signed with Lilongwe University of Agriculture & Natural Resources (LUANAR), has been extended to 2026-2028 to support the institution’s three key strategic development initiatives.
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The key initiatives include eco-forestry & tourism development; solar energy infrastructure project; and innovation challenge supporting scholarships, intellectual property filing as well as the LUANAR’s endowment fund.
CDHIB has thus invested US$120,000 in the next three years with approximately US$40,000 to be disbursed each year towards the three strategic initiatives.
The MoU was signed today at LUANAR Campus in Lilongwe, where CDHIB — led by Chief Business Development Officer, Jamal Kamoto — presided over the University’s launch of the Forestry Season by planting trees, which is one of the three strategic pillars of the MoU to support the eco-forestry and tourism development initiative.
Kamoto unveiled that the 3-year partnership investment of US$120,000 will first support LUANAR’s eco-forestry & tourism development through the tree-planting initiative along with tree growing management in communities around the University’s campuses.
It will also support the development and management of eco-forestry and touristic spaces within LUANAR campuses and the Bunda Mountain area, valued at US$27,000 over three years.
“We supported the tree planting activity in the previous MOU, in collaboration with the Forestry Department at LUANAR, and we are committed to continue supporting as Malawi observes a National Forestry Season,” said Kamoto.
“Secondly, the MOU will support the solar energy infrastructure project which will support the installation and management of solar energy generation systems at LUANAR campuses, valued at US$30,000 over three years.”
LUANAR’s innovation challenge is the third set of the MoU, and Kamoto unveiled that it will support three elements namely;
* Provision of scholarships to at least five innovative and talented students per year under the LUANAR Innovation Scholarship Programme, valued at US$18,000 over three years;
* Intellectual property filing awards for innovative LUANAR researchers to refine products and enter the market, valued at US$15,000 over three years; and
* a contribution of US$30,000 to an Endowment Fund to sustain the above activities and similar future initiatives over three years.
Kamoto emphasised that CDHIB is committed to enhancing partnerships and supporting initiatives which will help develop the nation, saying: “We believe that investment in our environment, innovation and supporting the education of talented students, creates value in the development of our nation as these initiatives positively contribute to the overall growth of our nation.”
On the expiry of the 2023-2025 MoU, Kamoto indicated that CDHIB is profoundly delighted the agreement provided growth for all parties involved and he expressed the trust that “the continued partnership with LUANAR will result in greater development of tree-planting initiatives, promotion and growth of agri-innovations and support the access to education for those in need”.
He thus stressed that CDHIB “is committed to providing banking solutions that help businesses, communities, and individuals to grow and devoted to creating value for various partners by entering into agreements such as that with LUANAR’s”.
Vice-Chancellor, Prof. Emmanuel Kaunda expressed his gratitude that the partnership with CDHIB is growing as the investment was at US$30 million at the initial agreement but now has grown to US$120 million.
He attested to that the strategic partnership with CDHIB has helped the University to grow as it has been executed in participatory manner, emphasising that in all aspects, the bank’s supports is always on topical issues.
For this Forestry Season, LUANAR — which is touted as an “university of endless possibilities” — plans to plant 41.000 trees and Prof. Kaunda emphasised that eco-tourism has always been their vision for long time.
He highlighted that while Bunda nature lovers have a place to visit on weekends they will soon choose LUANAR Forest as an option, which is being invested into to become a huge forestry reserve.
On his part, Kamoto said the event is a testament to CDHIB’s commitment to promote environmental sustainability activities for sustainable growth, saying: We applaud LUANAR for this initiative, which implements the annual forest landscape restoration activities to ensure that our operating landscape is productive for the benefit of people and nature.
“Your hard work and dedication to this cause are truly appreciated. Let us continue to work together to make a positive difference in our community and to promote a culture of environmental responsibility.
“Besides planting trees, the initiative provides an opportunity to continuously oversee the trees to ensure they grow well around the LUANAR University campuses and surrounding communities.
“The activity helps manage climate challenges such as soil erosion, combatting carbon emissions and other disasters and allows us to come together and create positive environmental impact that can generate economic benefits.”
CDHIB thus provided MK15.759 million towards eco-forestry and tourism development initiatives to be carried out by the Forestry Department at LUANAR aimed to support, among other activities, the 2026 Forestry Season.
“Through our collaboration, the tree planting exercise will help to propel developmental growth by combating climate change as Malawi continues to observe its national tree planting season.
“We are happy that our partnership with LUANAR creates awareness on the importance to take care of our environment and instills a passion for protection of the environment in the community and the University.
“This will help our nation to build resilience to climate change, thereby contributing directly towards protection and restoration of ecosystems that underpin any thriving developing green economy. We are pleased to participate in this tree-planting exercise that promotes environmental stewardship,” said Kamoto.
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