Investors interested in Malawi again as a result of current stable macroeconomic fundamentals

The Window on Malawi

The Commonwealth Business Council (CBC) delegation which arrived in the country on Tuesday to explore investment opportunities says they hope their visit will yield ‘tangibvle outcome’ that would in turn help Malawi realise its development agenda.

Sanmit Ahuja, leader of the 22-member delegation, said the three-day visit is aimed at exploring investment opportunities in some of the country’s lucrative sectors.

Speaking at Sunbird Capital Hotel during a welcome reception hosted by the Ministry of Industry and Trade, Ahuja—who is the director of investments and ventures for the United Kingdom-based CBC—said the team would seriously embark on discussions with local business captains in striking business deals in bankable projects in the agreed sectors.

"We are very much interested to capitalise on this visit and it is our aim to come up with tangible output from this visit," he said.

Ahuja added that their Council is optimistic that the ‘intense discussions’ with Malawian local business captains would bear fruits for the mutual benefit of the two negotiating parties.

"What our Council do to the small economies like Malawi is very substantial and with Malawi we want to create a framework for large scale investment by mobilising substantial investments," said Ahuja.

In his welcoming remarks earlier during the day at the Kamuzu International Airport, Industry and Trade Minister Henry Mussa described the coming of the delegation as a "golden opportunity for Malawi ’s crucial projects to be stimulated."

He assured Ahuja and his delegation that the local business persons are keen to strike business deals with the expatriate investors through the one-on-one networking.

Mussa also told journalists that President Bingu wa Mutharika, who has been attributing the interest of foreign investors to his sound economic management, is excited with the visit by the CBC delegation.

During the welcome reception, Minster of Tourism, Wildlife and Culture Callista Chimombo thanked the Commonwealth business investors for choosing Malawi as an investment destination.

"The business climate in Malawi is so conducive and there is stability in all the macroeconomic fundamentals. In addition, we have good investment incentives by Mipa [Malawi Investment Promotion Agency]," Chimombo told the CBC investors.

From last week, interested Malawians business person with have bankable projects worth US$10 million (about K1.4 billion) or more had been registering with the Malawi Confederation of Chambers of Commerce and Industry (MCCCI).

Today, the delegation is expected to hold an investment forum with their local counterparts in Blantyre where a number of presentations by experts from the banking, tourism, capital markets, information and communications sectors.

Standard Bank Limited is one of the major partners that has teamed up with the Malawi Government to sponsor the Commonwealth Business Council investment meetings in the country