Tanzanian Billionaire Said Bakhresa Opens 100 Million Soya Plant In Malawi

The new facility can process 500 metric tons of soya beans daily, boosting local production and reducing reliance on cooking oil imports.

The plant will offer a stable market for 150,000 metric tons of local soya annually, supporting jobs and Malawis agriculture sector.

Bakhresa Group is scaling up its food and beverage operations, including a 500 million drinks factory upgrade in Tanzania by 2026.

Tanzanian billionaire Said Bakhresa, the founder of the Bakhresa Group, is making a major investment in Malawi. Through his company, Bakhresa Malawi Limited, he has launched a 100 million soya extraction and vegetable oil refinery in Blantyre, the countrys commercial hub. The move signals strong confidence in Malawis economy, which is gradually opening up to more local and foreign investment under President Lazarus Chakweras administration.

Commissioned on Wednesday, July 9, by President Chakwera himself, the new plant has the capacity to process 500 metric tons of soya beans per daymaking it one of the largest facilities of its kind in Africa. To meet this scale, Malawi will need to produce at least 150,000 metric tons of soya annually. The facilitys success depends heavily on local farmers increasing their output, but it also offers them a guaranteed market and long-term opportunity.

The plant is expected to significantly reduce Malawis reliance on imported cooking oil, easing pressure on the countrys foreign exchange reserves. The refinery, equipped with modern processing technology, is part of an effort to strengthen local industries and promote self-reliance in essential goods. It also marks an expansion of Bakhresas business interests in the country, further establishing the company as a key player in Malawis agri-processing sector.

At the launch, President Chakwera welcomed the development, describing it as a practical step toward the goals outlined in Malawis Vision 2063 plan, which emphasizes industrial growth and job creation. This factory will help us save millions of dollars that we currently spend on imports, Chakwera said. It will employ over 300 people and give hundreds of families a steady incomefor food, rent, and school fees.

He also highlighted the factorys role in supporting local agriculture. It will provide our farmers with a ready market for their crops. With up to 150,000 tons of soya needed each year, this factory becomes a reliable buyer of what they grow, Chakwera said. The availability of a steady market is expected to encourage more farmers to grow soya and other oil seeds, while introducing new competition in the countrys cooking oil sector.