President Dr Lazarus Chakwera has commended Afreximbank for fostering Malawi’s economic development through industrialisation.
He made the remarks in Abuja, Nigeria, during a meeting with the President of Afreximbank, Benedict Oramah, and other officials from the bank, who are supporting the development of an integrated industrial park at Magwero in Lilongwe under a public-private partnership.
President Chakwera said the bank has been instrumental in deploying innovative instruments to deliver financing solutions.
According to Dr Chakwera, these support the transformation of the country’s trade structure and accelerate industrialisation and intra-regional trade.
He also expressed hope that, with support from Afreximbank, Malawi will soon transition from being a predominantly importing nation.
Oramah commended Dr Chakwera for his commitment to ensuring that the Magwero industrial project is realised.
He announced that the project will be implemented through a company called ARISE and is scheduled to commence in July 2025.
Meanwhile, Afreximbank, through ARISE, has pledged to soon introduce environmentally friendly electric motorcycles in Malawi.
By Chisomo Manda, Abuja, Nigeria
