Malawi International Arbitration Centre (MIAC) is set to ease pressure on the country’s commercial courts once it fully rolls out operations.
The institution is designed to offer a private sector-led, neutral and independent facility for the resolution of commercial and investment disputes.
Chairperson for MIAC, Patrick Mpaka, said this in Blantyre when he received K10 million in financial support from Illovo Sugar Malawi in readiness for their forthcoming symposium.
According to Mpaka, the High Court Commercial Division is facing a backlog of cases hence the formation of MIAC is timely.
In her remarks, Illovo Sugar Malawi Legal and Corporate Affairs Head, Maureen Kachingwe, said the formation of MIAC is crucial to the development of the country’s private sector.
MIAC is being collaborated by the Malawi Confederation of Chambers of Commerce and Industry and the Malawi Law Society.
