Arbitration Foundation of Southern Africa (AFSA) has called for close collaboration among stakeholders of the Malawi International Arbitration Centre (MIAC).
AFSA Chief Executive Officer, Andile Nikani, said this at the official opening of MIAC in Blantyre.
Nikani said African Arbitration Centres should work together to succeed and conquer their common challenges and international competition.
Chief Justice Rezine Mzikamanda said Malawi will cut costs on corporate legal disputes following the official opening of the facility.
Mzikamanda said that he expects an improved settlement of legal corporate matters in the country’s private sector.
President of the Malawi Confederation Of Chambers of Commerce and Industry (MCCCI), Wisely Phiri, described this as a milestone in cutting the length of time taken for industry cases to conclude, hence creating more room for participation towards economic growth.
Chairperson of the MIAC, Patrick Mpaka, said they will work on ensuring that the country has well trained arbitrators that are full of integrity.
Mpaka added that they are also looking forward to a committed business community in utilisation of the centre.
The opening of MIAC marks the inaugural Malawi International Disputes Day.
