UK-Malawi investment summit lures investors

By Patricia Kapulula

In London, United Kingdom

London, January 23, Mana: President Prof Arthur Peter Mutharika has described Malawi as having a great potential in creating wealth which can lure business people to invest in the country.

He said among others as government Malawi has a conducive environment that offers incentives to investors such as tax incentive package.

Mutharika made the remarks in London on Wednesday at the UK – Malawi Investment Forum where he spoke to over 50 representatives of investors in the areas of energy, manufacturing and agriculture among others.

Malawi is party to investor protection agreement and is becoming the most competitive place to do business in the region. It has also entered into strategic trade agreements that allow for preferential market access through regional and global bodies.

He said Malawi’s business environment has been improving over the years as seen by the growing macro-economic and micro-economic levels, an environment he said every investor needs.

Malawi’s inflation has been in the single digit with a stable local currency for the last four years. Throughout 2019 inflation was at an average of 8.8 percent.

He, therefore, appealed to the investors to invest in different projects in Malawi and be part of the economic growth.

The President cited public sector reforms, aggressive infrastructure program and projects that are intended to upgrade local Malawians as some of the measures taken to create growth of private sector.

“So far, we have made the right policy decisions and taken the right actions. Many positive minded Malawians are busy pursuing the opportunities we have created and changing their lives,” he said.

He observed that despite challenges that Malawi faces, the country remains an economic rising promise. As such he made a call to the investors to be part of that growing economy by investing in the country.

Minister of Industry, Trade and Tourism, Salim Bagus expressed optimism that by the end of this year business deals born from the forum will be pitched.

About 16 Malawian companies participated at the forum where they had an opportunity to showcase their activities and what they can offer to the investors.

Malawi Investment and Trade Centre (MITC) prepared 18 bankable projects for marketing at the forum

16 companies (10 private and six public) including Nico Holdings, Egenco, Lilongwe Water Board, Nyama World and CDH Investment Bank among others participated in the forum.

Out of the countries in Africa, Invest Africa, organisers of the forum, identified Malawi as one of the most important investment destinations.

Invest Africa is a leading Pan African business platform that promotes trade and investment in Africa. It has global footprint of more than 400 member companies, comprising multinationals, private equity firms, institutional investors, development finance institutions, professional service organisations, government bodies and entrepreneurs.