* All ongoing road projects in the heart of the Capital have gained momentum as they are in their final stage
* Capacity improvement of Kenyatta Road to six-lanes, Mzimba Street to dual carriage
* Dualisation of the Airport Road from Crossroads to Kanengo and dualisation of Lilongwe River Bridge
By Duncan Mlanjira
By August this year, rehabilitation of Mzimba Street in Lilongwe is expected to be ready this August while Kenyatta Road will be ready by December.
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This is according to an update on Malawi Government official Facebook page after Minister of Transport & Public Works, Jacob Hara inspected four road projects currently underway in the Capital City.
The report says all ongoing road projects in the heart of the Capital have gained momentum as they are in their final stage, which are capacity improvement of Kenyatta Road to six-lanes, Mzimba Street to a dual carriage — financed by Malawi Government.
Financed by the China Aid is the dualisation of the Airport Road from Crossroads to Kanengo and the JICA financed dualisation of Lilongwe River Bridge.
Minister Hara expressed satisfaction with the momentum of the projects, saying the speed at which the contractors have put on the works will enable them to deliver them on time.
Hara was, however, was quoted as saying the Ministry will not in any way allow quality to be compromised by either the desire to have the new roads the soonest or the cost — emphasising that government is not compromising on quality as it allowed the price adjustment of the projects due to the rise in price of materials.
Details of the projects, which President Lazarus Chakwera launched the construction works in August 2021, are that the Kenyatta Drive’s 3.9km stretch will run from Parliament-Bisnowaty-Kamuzu Central Hospital Roundabout-ending opposite National Bank of Malawi.
The 6-lane road from Crossroads Roundabout is a similar 3.9km that will run through Amina Roundabout to Central Medical Stores.
The new road makes provision for a tram to be included in the middle section; construction of cycle lane for cyclists; pedestrian walkways along both sides; new bridge next to existing bridge to accommodate new lanes; partial clover interchange to be built at Kamuzu Central Hospital roundabout and installation of solar streetlights.
Once completed, travel time between city center and old town will be reduced, economic activities will accelerate, and local businesses will thrive.
In February last year, Standard Bank signed Malawi’s largest infrastructure financing deal in local currency with Roads Fund Administration in collaboration with Old Mutual and Continental Asset Management for the financing of Kenyatta Drive and Mzimba Street worth K34.5 billion.
The private sector and government partnership
The agreement bound the Roads Fund Administration (RFA) as project implementor and Standard Bank Plc as the lead financier and joint arrangers, Old Mutual and Continental Asset Management as co-financiers.
The financial agreement cleared the way to accelerate substantive construction works for the project, which will become Malawi’s first six-lane road.
As joint lead arranger, Standard Bank Malawi raised K21 billion for the road construction and Chief Executive, Phillip Madinga said at the contract signing: “Our capability to finance a project of this stature highlights Standard Bank’s commitment to contribute to economic growth in line with our purpose, which is ‘Malawi is Our Home, We Drive her Growth’.
“The Bank has a desire to see the country achieve remarkable progress in key sectors such as roads and infrastructure.”
Old Mutual contributeD K11 billion and Continental Asset Management will invest K2.5 billion towards the project.
Old Mutual Group CEO, Edith Jiya said the investment and asset management firm shares the passion for the country to achieve sustainable economic growth and reduce poverty through infrastructure development as is case with the Kenyatta Drive.
“We take pride to be associated with projects that improve Malawi’s transport networks, leading to better interconnection of our cities and direct positive impact to our customers and our nation,” she had said.
Continental Asset Management CEO, Gillian Kachikondo said the fund management firm had participated in the financing agreement on behalf of various pension funds under its care.
“Continental Asset Management is very excited to be part of this progressive project, which is expected to transform the city’s outlook and foster increased economic activity in line with MW2063,” she said.
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