• Mon. Aug 14th, 2023

Malawi Exclusive

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50 investors meet President Chakwera at Kamuzu Palace

Aug 14, 2023

Malawi President Dr. Lazarus McCarthy Chakwera, on Monday, held an interface with a contingent of over 50 investors who share Pan African investment interests across a number of sectors such as energy, agro-processing, automotive, tourism, ICT, education, renewable energy, infrastucture development and finance.

The investors – travelling under the PLO Lumumba Foundation – have been drawn from African economies such as Ethiopia, Democratic Republic of Congo, Kenya, Uganda, Ghana, The Gambia, Senegal and Nigeria, as well out-of-continent economies such as the Caribbean, India and the United State of America.

Addressing the delegation, President Chakwera said the impending investments are critical because they will enhance economic productivity, thereby expediting the attainment of the MW2063.

“It is a pleasure to welcome Professor PLO Lumumba back to Malawi. When we met a few years ago, I gave him an
assignment to come back with investors to support my vision for enhancing the productivity of this country’s
economy for the achievement of job creation and wealth creation in line with the Malawi 2063 Vision of turning
Malawi into an inclusively wealthy, self-reliant middle income economy. After months of coordination and effort, we are gathered here with over 50 representatives of over 30 enterprises that have come from across Africa
and are eager to launch operations in Malawi.”

The President said he was therefore honored to welcome all of them to Malawi, the Warm Heart of Malawi, and to host them at Kamuzu Palace.

“Your coming here from across the continent demonstrates your eagerness to see Africans rise together. As citizens of your own countries, you could have easily taken your resources to invest in the economic growth of your own countries, but you have come here with the heart to see your brothers and sisters in Malawi grow together with you, because Africa is one family that must rise together,” he said.

The Malawi leader expressed gratitude for their choice of Malawi as an investment destination as this is a clear expression of trust and confidence in the environment his administration is creating to make all sectors of the economy as productive as they ought to be.

The President assured the investors of government’s total support in improving the investment climate that brings about business success for those who inject capital in various enterprises and economic benefits to the people of Malawi.

Among the many deliberate interventions the Chakwera administration is implementing are the establishing of Special Economic Zones, operationalization of One Stop Border Posts with neighboring countries, review of land and labour laws to make them friendly for pro-growth trajectory.

In his remarks, PLO Lumumba Foundation director, Professor PLO Lumumba, said the delegation is in Malawi for they have detected the economic potential the country holds as prescribed in the Malawi2063 which aligns perfectly with the African Union Agenda2063.

Professor Lumumba also said the initiative is best positioned to spur sustainable investment on the continent, saying Africa holds the key to inward-looking investment than has been the case over the decades gone by.

“This initiative is a way of Africans liberating themselves from the chains of economic slavery. Previously, we have been made to believe that real investors are those that come from outside the continent. But this delegation has the right firepower to bring in the investment that Malawi needs to grow its economy,” he said.

Minister of Trade, Honorable Simplex Chithyola expressed hope that the visiting delegation will, at the end of their tour, make conclusive determinations owing to the country’s investment readiness which has been nurtured since President Chakwera took office.

Since President Chakwera ascended into power, his emphasis has been provision of a good working environment for businesses.

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