Dangote no show at Malawi Investment Forum: Mutharika assures security to investors
Africa’s richest man, Aliko Dangote, who is worth an estimated $18.4billion, has failed to attend the high profile Malawi Investment Forum (MIF) which President Peter Mutharika opened in Lilongwe Monday.
The Nigerian industrialist who has investments in cement, sugar and flour, was expected in Lilongwe, the country’s capital, to hold private talks with President Peter Mutharika to discuss avenues for a potential investment.
But organisers confirmed Dangote’s no show when Mutharika opened the trade meeting, citing the billionaire businessman’s “security concerns.”
Dangote is aggressively expanding his business empire across several African countries. He recently launched a $500 million cement plant in Ethiopia, and is building other plants in Kenya, Niger and Congo, among other places.
In his address after opening the forum, President Mutharika said investment, both foreign and domestic, is the engine that will develop the economy of Malawi from a predominantly importing and consuming to a predominantly exporting and producing one.
“We believe that the private sector will bring the prosperity that our people earnestly deserve,” said Mutharika.
Mutharika said the country has initiated and implemented various reforms that will make the journey towards investment in Malawi easier.
“My Government will also provide security for foreign direct investments including flexibility in repatriation of profits,” pledged the Malawi leader.
Mutharika said the country has established a One-Stop-Service-Centre at the Malawi Investment and Trade Centre to assist investors with the registration of a company, the identification of land, the processing of employment permits and other required licenses, and advise on available incentives.
The President made a case for Malawi being conducive for investment, saying the country has liberalised the exchange rate and will uphold the policy.
“As a result, the Malawi Kwacha has been stable over the last year and the government expects that this trend will continue for the foreseeable future,” he assured.
He said Malawi has upgraded the electricity generation capacity and introduced demand side management measures.
“Malawi’s electricity supply has become increasingly reliable as generation capacity exceeds demand during off-peak hours,” said Mutharika.
He dislosed that as part of the upgrading of the transportation corridors, a rail line from Tete to the deep sea port of Nacala has been constructed, which Mutharika said will provide “fast access” to the Indian Ocean and cut transportation costs for the import and export of products.
Mutharika also told investors that Malawi has in this month of June, 2015 become a signatory of the Tripartite Free Trade Agreement bringing together twenty six (26) countries from the Common Market for Eastern and Southern Africa (COMESA), Eastern African Community (EAC) and the Southern African Development Community (SADC).
The treaty will boost regional trade and open up investment opportunities that seemed impossible a couple of years ago.
Mutharika nonetheless said there is “much more to be done” to improve the competitiveness of Malawi as an investment destination.
Malawi investment is intended to be national and annual event in Malawi that will bring foreign investors, local investors, heads of public institutions and development partners together to collectively discuss the business environment in Malawi and to identify prospective investment areas of interest.
Follow and Subscribe Nyasa TV :
I taught you Malawians said Dangote will bring Boko haram and fraud to your country.You should be happy now that he has not come. By the way is Dangote the only investor in the world? You keep blowing hot and cold with no movement. Look the way forward is to develop investment and the culture of enterprise which is clearly lacking in your country. That is how the chinese indians and now Nigerians are doing it and that is what the black man needs – innovation zeal and enterprise otherwise we will continue to be the world underdogs. Some of your comments are clearly sham and uninformed.
This is rather disappointing. Dangote decides to stand-up a whole president and its people and the best us Malawians do is poke fun at our own people in the pictures.
What Dangote elected to do was very unprofessional. He accepted the invitation but then decides not to show up. It doesn’t matter how many millions one has, everyone’s dignity is defined and preserved by one’s public conduct. I commend Mutharika for this progressive step of initiating a platform that will promote future investment in Malawi and have not seen any (better) alternative propositions on this blog. Rather, just the typical self-degrading comments. Dangote may have decided to shun us, but the world has many more willing investors. What was missing was a clear vehicle to expose Malawi’s potential and this forum is one of them.
A khokhola pa town tsopano kkkkkkkk. Akhakha
Mrs first lady Getrude that suit color is for party…wedding etc not there u look silly.
Achimidzimidzi, well said and the list is long don’t forget:
_poor infrastructure
_ unreliable electricity supply
– Poor governance
_ in-availability of forex
_exhorbitant transportation costs
finally Mathanyula has to convince these ” inverstors” why they should invest in Malawi and not Zambia, Mocambique or Tanzania?? what does Mathanyula have to offer that can attract these investors???? Tell me one thing otherwise this is another good for nothing publicity stunt
That’s why I am immigrant in SA.
Akazi a Muntharika ngati Giraffee kapena kuti Nswala. Mukuona bwanji?
Dangote wangowona kuti kulibe phindu ku Malawi. Leaderless, corrupt with ZERO INFRASTRUCTURE, poor communication, power, etc. Zopusa basi.
Dangote angabwerere zopusazi zoti sipakhalanso follow up after kukambirana, bola aliyense wadya allowance yake.
Malawians lets face the truth, we are at it again, SILENT when it matters most. We all know this has nothing for poor Malawians but some cash-hungry few, mostly in “government”. I have no affiliation nor inclination to any political party but a concerned Malawian with Qs that have no answers yet:
When will we ever have a leader that will encourage local Investments?
When will our government recognise the talents / skills / abilities that Malawians have and come up with strategies for development?
When will Malawians start “doing” and stop “dreaming”?
When will Malawians ever stop tolerating nonsense and speak out?
When will we stop fearing those in power and tell them how it is?
For how long are we going to be taken on an auto-pilot trip and yet no-one gets concerned.
MIF, who wins at the end? Yeah that is right, FOREIGNERS again and we, Malawians remain where we are used now, POOR.
Koma abale, Mwanamveka anali wakuda, wayera liti? Mpaka kuposa Chilima? Koma abale!
Koma move ya Mwanamvekhayo kikik kawawa
John @ 12 First you should be asking your one-toothed lomwe president why is he clinging to northerners when they want federalism or total secession? Your lomwe president knows better!!! He will shit in his pants without them. These northerners are a source of employment to most lomwes who are tho tho tho in their farms down north. So go tell your president to let northerners go because they are better off without him!!
Wachita bwino osabwera! Mumafune mumubere?? Anthu oipa inu!
Nankhumwa atiuza kuti Dangote sanabwere anamuuza ndi JB!!!!!!!!
Malawi is a land with people full of good ideas but lacks the jinks to implement them. Know that good ideas alone do not bring food on the table.
Investors should have forex at the moment there is no forex in the commercial banks rates are going up in tobacco season, are going back to old times
Where is Dangote ……..?
Achimididzi. Your list continues:
9. High interest rates
10. Ignorance
11. Ignorant presidents from 1994
Inviting investors is the best a president can do.Peter has demonstrated that he is a visionary leader with international experience.I congratulate peter and his cabinet.We r now moving in the right direction.In the past presidents have been dishing out handouts including ufa.Teach people to fish not giving handouts.
Dangote was opening his cement factory in Tanzania at that particular day.Its not right to think there were security concerns.No.He will come to Malawi quietly.I am close to him and I know this will happen.
Bravo Peter.Bravo Joseph Mwanavenkha.Bravo George Chaponda.keep it up guys.That’s the way to transform Malawi.
I was not happy though with the speech by minister of tourism during the banquet for inviting the prospective investors to a night life at Cheztemba.No that was wrong.Invite them to club makokola and wild parks.
The major challenge is the electricity problem otherwise there is no country that is pure clean without corruption, tribalism,security,Forex etc.
Nigeria where Dangote comes is well renowned with corruption,tribalism,insecurity and yet these do not deter investors.
There is no patriotism in this country.If the whole of the president can spend a whole year in foreign lands and his friend change Golo claiming that she has no place to live in Malawi.Is this true.Can’t she wait in a rented house while they are waiting for a penthouse somewhere else for being rewarded on tax payers for doing nothing.Doomed country with these fake politicians of ours.
Achimidzimidzi mwafotokoza mwachindunji. Good comment.
Nothing to add here, A chimodzimodzi mwafotokoza mwachindunji. All I can do is to preee the like button on your comment to bring it to the 13th count!
Achimidzimidzi, what have you achieved by writing such a comment? Are you really a Malawian? Where is the patriotism?
tiyenazoni timutape koma mkuluyi basi.He has lots of dollars men.
Dangote did well by shunning this joke called Malawi Investors Forum. I listened to the MC and Nankhumwa at state banquet and couldn’t believe that in 2015 some Malawians can shamelessly praise sing a fellow human like they did. Surely if Mutharika is indeed an academic professor he should have felt ashamed by what his praise singers displayed in the presence of international delegates.
The attitude of this journalist to come up with such a negative headline about such a positive event for our country just typifies what is wrong with us as Malawians. I mean seriously, of all the things that could be written on this investment forum, the only thing this person could write was that Dangote didn’t come to Malawi for this forum? What a shame.
Achimidzimidzi missed Page 9: Lack of workforce with necessary skills
Sendeza women dancers. For what?
A whole president taking pride that electricity is reliable off peak hours. What a hopeless country Malawi is!
Let us love our country
Dangote must be very stupid if he fears for his life in Mw. There is no Boko Haram here.
He has heard that the country has notorious armed robbers who can even shoot policemen on cash escort duties
The president assured repatriation of profit by foreign investors; what does this mean for Malawi’s economy. Can economists please comment on this statement? Malawi is poor not because of lack of resources (human capital and others), but because of mediocre and corrupt leadership, from 1994. This is a fact!!!!
So now
Asians r to blame for this too!
I think they r the only people who r investing in Malawi, be it little!
Wakeup and support who r already investing,
Than calling upon those Who might o might not!
Not that we should not call more foreign investor, But 1st support and secure ways already on ground!
When one puts up an investiment, it is his/her expectation to see the investment expanding and giving dividends..But not with this country!! There is no conducive environment for investing in Malawi. Talk of huge tax, blackouts, poor water supply service, insecurity and you name it…….
My fellow countrymen,
Let us give credit where it is due. Peter Mutharika and his government have done the needful. Congratulations bwanaaaa !!. It is not proper kumangotsutsa zilizonse ndi zabwino zomwe. As Malawians lets support the government to sell Malawi as an attractive investment destination to the outside world. If Malawi is to grow economically we must begin to move from somewhere. The government has began, lets all move with it.
I love Malawi!!
Achimidzi mwaiwala umbilinso ku Malawi ndi ma bank intetest akuti mpaka ukakhala osauka amatha kukutchaja 60%
Alas! my country is fataly wounded by these powerful greedy politicians who never reguard a human life.unfortunately poor & ignorant ppo blame kamuzu banda who in his legendery lifetime made sure for ppo to buy fertilizer at 2kwacha per 50kg bag.ppo ddnt know hunger but now even a 3yrs old kid knows poverty.
@1, you must be a very foolish guy. To whose advantage is your message?
Atumbuka opanda phindu inu. Just secceed and have your country. Kupusa!
A first lady mukuoneka bwino kwambiri sopano.
So Dangote didn’t attend. The guy is rich than Malawi as a country. How can someone invest in a country which worthy about US$8 billion. A country which have highest external and internal debts. How can someone invest in a country which its government is being investigated for stealing K577 billion. Who can invest in a country where its president is nepotistic and tribalism campaigner. Who can invest in a country where its civil servants are struggling to get their salaries. Who can invest in a country where its citizens run away out of their own country not because of civil war, but because of poverty and hunger. Who can invest in a country where its roads are just 4.5 metres wide. Shame on you Peter Muthalika and your DPP for making us the poorest. You can do what ever you can, but K577 billion will haunt you.
TAXATION IS ALSO A BURDEN TO BUSINESSES IN MALAWI THAT’S WHY SOME INVESTERS ARE SHUNNING MALAWI PLEASE RE VISE SOME OF THE MRA BY LAWS
Tiyeni tiphe akuba onse. We should have a special 30 days state of emergency. Anyone found loitering panja usiku- shoot to kill. Tithane nazo mbavazi.
Mwati ndi dangote yemweyo akuziziwa zoti amayenera kubwera ku malawi? Dzanja lalemba pitala (satana amutenge pitalayu abale, yatikwana nkhalamba yi)
ACHIMIDZIMIDZI U R VERY GUD ANALYSIS KIP IT UP
When are president starts telling lies in public, know that the country is on slippery slope.
Liberalization of the kwacha was done by Joyce Banda, you Mutharika was against it.
Nacala railway line is a Mozambique project with Vale company of Brazil, Malawi is just a transit area.
We are waiting for the Banquet halls, that will be your projects.
A mayi yellow yellow yello
”……security concerns…’ which means the organisers admitted that nation can not provide security to him….hayayaya!
Abig Peter
Malawi can’t convince investors becuase of how we run the government.
Our government has the following pages and topics which we need address first before we start telling lies to investors;
page 1: Corruption
Page 2: insecurity.
page 3: power blackout.
page 4: water shortage.
page 5: constitutional disorder.
Page 6: Tribalism
Page 7: Instability
Page 8: Shortage of Forex
At the meantime investment in Malawi is at owners’ risk.
Well, there are many other countries which have the same challenges but foreign investment is trickling in. The main problem in Malawi is that we dont know what we want. An example is an Investment Forum which was more less a trade fair with more trade exhibitions than bankable projects themselves.