Private sector productivity a tool to the country’s prosperity—Chakwera

* My administration has been pushing to see an uptick in productivity in three primary and most promising sectors

* Of agriculture, tourism and mining, which is what I have been referred to as our ATM Strategy

By Sellah Singini, MANA

President Lazarus Chakwera says increasing private sector productivity is the only way to make Malawi a middle-income economy that empowers Malawians to be self-reliant.

Speaking in Lilongwe on Tuesday at the Malawi Investment Summit 2023, Chakwera said the private sector is the primary domain where a healthy and strong nation creates jobs, wealth and achieves food security.

“Since then, my administration has been pushing to see an uptick in productivity in three primary and most promising sectors of agriculture, tourism and mining, which is what I have been referred to as our ATM Strategy.”

He further said in order to boost productivity in these three sectors, his government has been reviewing the policy, legislative and administrative framework to make the changes necessary for creating an enabling environment for boosting production in the sectors.

However, he lamented two obstacles such as governance dysfunctions in the public institutions and external shocks as those frustrating his government’s efforts to create the conditions for a producing, exporting, and forex generating economy.

To show that his administration is serious for Malawi being open for business, the President announced that he has sent his Ministers of Agriculture, Tourism and Mining to South Africa to address potential investors at the Malawi Investment Forum that the Malawi High Commission is hosting in South Africa.

“Our number one priority is the economy and that necessarily means empowering and enabling the private sector, with the goal of making Malawi the best partner for business and investment,” he said.

He, therefore, thanked the Economist Impact and all the sponsors of the event for seeing that Malawi is the best place for the investment summit.

The Malawi Investment Forum underway in South Africa is in line with the Government agenda towards a number of economic recovery strategies, which are also incorporated in the MW2063 development blueprint.

The theme is in line with giving potential investors, financiers, and business captains an opportunity to engage and explore investment opportunities available in Malawi.

The Forum is expected to have three main activities: a conference, B2B meetings, and exhibitions, whose participation is free for invited delegates to learn about the Malawi’s bankable investment projects and network with over 300 delegates.

Meanwhile, Malawi Consulate General in Tete, alongside Zambezia province Governor of Mozambique, will hold trade mission talks between July and August 2023 scheduled to take place in Quilemane.

This was disclosed in Mozambique on Monday when the Consul General of Malawi in Tete, Happy Jonathan Sakah, paid a courtesy call to Secretary of State Cristina de Jesus Xavier Mafumo and the Governor Pio Augusto Matos.

Consul General Sakah reaffirmed Malawi’s commitment to elevate the trade and investment agenda to increase the volume of trade between Malawi and Mozambique.

“This visit to Zambezia will open doors for businesses and I call on Malawian traders to tap into massive business opportunities that abound in Tete, Zambezia and surrounding provinces,” Sarah said. “As Malawian Consulate, we are happy and eager to facilitate and see trade between the countries flourishing.”

He further said Malawi Consulate is working closely with Ministry of Trade & Industry in coordinating the trade mission and welcoming the Malawi delegation, the Secretary of State said the visit was a move to further strengthen the existing cordial relations between the two countries. 

She noted that as the Consulate delegation was in Quilimane, a delegation from Zambezia was participating at the Malawi International Trade Fair in Blantyre.

In his remarks, Governor Matos brought the historical perspective that Malawi’s founding leader, Dr Hastings Kamuzu Banda, had always wanted to make a breakthrough of the nearest route to the sea — hence the talks to come will just cement the relationship between the two countries. 

“The borders between the two countries were a making of the colonial masters. I would like to emphasise that Quilimane has standing relations with Blantyre and Limbe.”

Malawi Consulate General officials will be in Zambezia province for one week and will interact with various government institutions including, directors of trade, health, education, agriculture, immigration and other officials like those from Police, Road Traffic and Prison.

Consul General Happy Sakah, who was appointed last year in September, also made a similar courtesy call in Tete province.—Additional reporting by Arkangel Tembo