Standard Bank CE Phillip Madinga hands over the cheque to Minister Chithyola Banda
* Standard Bank is committed in supporting government to attract investors
* We believe that Malawi is our home and we drive her growth
* So, in driving the growth we are excited to to support the Ministry of Trade
* Because it is through this Investment Forum that we will grow our economy as a country
Maravi Express
Minister of Trade & Industry, Simplex Chithyola Banda has applauded the support of K50 million from Standard Bank towards the Malawi Investment Forum scheduled to be hosted in the Republic of South Africa on May 24-25.
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Receiving the cheque on behalf of the government of Malawi on Friday, Chithyola said the Malawi Investment Forum is key to woo investors into the country as well as finding international markets for Malawian products.
“This forum is critical as it brings opportunities for Malawi to woo investors as well as sell our products for the much needed forex,” he said. “And this is in line with the MW2063 development agenda.
“And when partners like Standard Bank come in to support, we know we are in a right direction. We are excited as government with this support from Standard Bank.”
On his part, Chief Executive, Phillip Madinga said Standard Bank was committed in supporting government to attract investors, saying: “We believe that Malawi is our home and we drive her growth.
“So, in driving the growth we are excited to to support the Ministry of Trade because it is through this Investment Forum that we will grow our economy as a country.”
Madinga emphasized that the upcoming Malawi Investment Forum augers very well with Standard Bank’s position to continue playing an active role in financing the country’s trade agenda as it also provides the bank a platform to put its expertise in financing trade and opening international and regional trade corridors at the disposal of key trade partners
“As the Forum will showcase bankable projects in a cross-section of economic sectors, stakeholders will be glad to cherry pick those products and services that suit their trade requirements.
“As a lead private sector partner for the Investment Forum, Standard Bank looks forward to welcoming the new opportunities that the forum will create. We are keen to work with all the partners that will bring bankable projects in the identified key sectors of energy, tourism, mining, agriculture, ICT, manufacturing, and infrastructure.
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“Malawi is faced with a myriad of challenges which can best be addressed by improving our economic efficiencies. As trade sits at center of the country’s inter-connected economy, it is one of the catalysts to help grow our country socially and economically,” Madinga said.
The Malawi Mission in South Africa — through its Consulate and the High Commission — will host the Investment Forum in line with the Government agenda towards a number of economic recovery strategies, which are also incorporated in the MW2063 development blueprint.
In announcing the news a statement from Titha Mbilizi, the Vice-Consul-Corporate Affairs & Administration at the Malawi Consulate General, said most economies have faced a dent on economic progress due to the CoVID-19 lockdown measures implemented globally, and Malawi’s economy was not spared.
“Key to this is to drive trade and investment under the theme ‘A Prosperous Malawi Through Strategic Investment Partnerships’,” she said, adding that it aims at giving potential investors, financiers, and business captains an opportunity to engage and explore investment opportunities available in Malawi.
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The Forum will showcase bankable projects in the following identified key sectors: energy, tourism, mining, agriculture, manufacturing, and infrastructure, she said adding that opportunities in the health, education, financial and ICT sectors will also be highlighted.
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.
Malawi High Commissioner to South Africa, Her Excellency, Stella Ndau was quoted as saying: “The event has been organized to showcase the immerse and mostly greenfield investment opportunities available in Malawi, in various sectors, to South Africa-based potential investors and beyond”.
“As a country, Malawi is expected to benefit from any investments which will be achieved and secured at this event and that investors will also benefit and see value in the country’s rich and abundant natural resources, favourable climate for agriculture, and various tourist attractions among others.”
Malawi High Commissioner to South Africa Stella Ndau
She is further quoted as saying the potential investors must seriously consider Malawi’s bankable projects and that they should know of such projects — hence the relevance of the Forum.
Consul General at the Malawi Consulate General in Johannesburg, Maxwell Biwi was also quoted as saying: “To ensure that potential investors access the most credible and relevant information, all relevant government bodies that are key and relevant in the promotion and facilitation of investments in Malawi will be in attendance to serve and engage with the investors right on the floor.”
He further expressed his gratitude for the support from Malawian private sector players as well as SOEs who have come on board to make this event a reality through sponsorships.
They include the lead partner, Standard Bank Malawi; Platinum sponsors, FDH Bank; Mukuru; National Bank of Malawi and NICO Holdings Plc; and Gold sponsors, Press Trust; Press Cooperation Plc and Blantyre Water Board.
South Africa-based seasoned economist, Chifipa Mhango, Chief Economist for Don Consultancy Group, who is supporting the event with that country’s media channels coverage, said: “The Malawi Investment Forum is the path in the right direction and fully endorse the initiative by the Malawi Government.
“Trade and Investment are a key component for driving economic growth and prosperity to which Malawi should take advantage of. Malawi is a country that is well endowed with beautiful unexploited landscapes along the Lake Malawi shores, vast fertile arable land, rivers and lakes to support irrigation farming, newly discovered vast mineral resources and above all, political stability.”
To register participants are encouraged to visit: https://rsvp.myplanner.co.za/attendee/malawi-investment-forum-2023 and for more information, to contact Titha Mbilizi at +27 78 851 6990 or email Titha.mbilizi@malawiconsulate.co.za, or visit the registration page: https://rsvp.myplanner.co.za/attendee/malawi-investment-forum-2023
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