A Malawian economic expert based in South Africa Chifipa Mhango has hailed Malawi for successfully organizing the first-ever Malawi Investment Forum in Johannesburg saying it has created more room for investors.
Speaking during the Malawi Investment Forum which was taking place in South Africa, Mhango said Malawi is in the right direction saying trade and investment are key to national development.
“Malawi has the potential of becoming Africa’s food basket if potential investors come and invest in the Agriculture sector,” Mhango said.
According to Mhango who works as Chief Economist for Don Consultancy Group Pvt Ltd in South Africa, Malawi has taken the right direction as it offers an opportunity on how Malawi can spearhead its development agenda.
He said there are a lot of opportunities in Malawi that investors can take advantage of by establishing their businesses. He said the sectors which have been highlighted during the forum that include agriculture, mining and tourism can assist to turn around the country’s economy.
Standard Bank of Malawi Chief Executive Officer Phillip Madinga, said they will continue to partner with Malawi to hold similar events outside Africa so that investors appreciate what they can invest in Malawi. The bank was the lead sponsor of the event. Madinga then said what the forum has achieved is in line with the Malawi 2063 agenda of living no one behind as there are more opportunities in Malawi.
“Malawi is our home and we will help her growth,” Madinga said.
In her remarks, when closing the Forum Malawi High Commissioner to South Africa, Stella Ndau, said the deliberations have been very enriching. She hailed the President of Malawi for the support he gave to the organizing team so that the forum becomes a success. She said they will be looking forward to the completion and success of the deals.
In summing up, the Minister of Trade and Industry, Simplex Chithyola Banda emphasized the need of working together with the private sector in developing Malawi. He said they will make sure that the potential deals are finalized so that Malawians see the results of the forum.
During the forum, various cabinet ministers had time to highlight many opportunities Malawi has to the potential investors so that they consider the warm heart of Africa their next preferred investment destination.
The two-day forum was held under the theme: ‘A prosperous Malawi through strategic Investment Partnerships’, was to provide an engagement platform by bringing together the most influential stakeholders-Financiers, Investors, Government Officials and Business Captains to provide information for decision-making regarding investing in Malawi.