All Set For 'Malawi Investment Forum' All Prospective Investments Leads To Be Followed

Malawi confirm readiness to host the first ever Malawi Investment Forum, all delegates confirm participation says the Minister of Industry and Trade.

Malawi is expected this Monday to host a two day Investors conference and government says confirmed participants are drawn from across the world, with interested to bring their investment to Malawi.

Hon. Joseph Mwanamvekha said the most contribution to host the event has come from the local private sector with sum of K70 million.The minister also said is impressed that local private investors have shown keen interest to participate in the conference.

"More importantly the private sector have accepted and acknowledged that this is an important forum. Actually this support to us is an indication that investors are confident in our capacity and see the opportunities that are there in Malawi.”

The minister said as of Saturday, 236 local delegates with interest to invest confirmed of their participation. He also said, 150 foreign delegates had confirmed bearing a target of 100 foreign investors and added that others were continuing confirming their presence at the conference.

He mentioned that some investors includes from Chamber of Commerce in the United States of America, Corporate Council for Africa, Investors from Far East, China, and many more.

"It is very encouraging” said Chief Executive Officer for Malawi Investment Trade Centre Kumbemba (MITC) speaking of number of delegates that have confirmed to attend

Clement Kumbemba 

"There are 236 local companies and most of these are companies that have investment projects, they will be bringing these projects to the forum to identify either strategic partners or to actually source funding from the development partners and development banks that are coming.” Said excited Clement Kumbemba

In terms of following up promises from the investors, he said “We will leave no stone unturned” assured Kumbemba, “As you are aware, we are all excited that the future of this nation is in the private sector hands and we want to see more investments in Malawi; jobs created, foreign exchange being generated, import substitution taking place. So we will have many follow up mechanism arrangements."

He said there is a department at MITC whose responsibility is to follow up on any investment leads, "So all the companies that have visited Malawi will be followed individually and there will be a team that will follow up periodically, will have to give reports to government on how the outcome of this forum is achieved” he said

Malawi will for the two day conference, show case seven opportunity areas in the seven sectors of Mining, Agriculture and Agro-processing, Energy, manufacturing, Infrastructure, Tourism and Financial Services.

Malawi expects to generate prospective investment of up to US $16 billion which is K7.2 trillion from this project.

It is expected that the VVIP delegates will include Vice President for OPIC, SADC Executive Secretary and Africa’s Richest Man, Aliko Dangote.