Goodall wants Malawians abroad to send more money back home

Minister of Finance, Economic Planning and Development Goodall Gondwe has said Malawi needs effective domestic resource mobilization to develop successfully.

Gondwe:  Wary with low remittance

Gondwe: Wary with low remittance

Gondwe said this in Lilongwe during the high level forum on development effectiveness which was held under the theme ‘Towards a transformed and self-reliant Malawi’ and attracted participants from the academia, cabinet ministers, Civil Society Organisations, development partners, among others.

The finance minister said the African Union (AU) has adopted a broad view of domestic resources that is not only looking at tax revenues, but also pension fund assets, mineral earnings, international reserves, Diaspora remittance, stock market capitalization and private equity.

Gondwe said: “It is only proper, therefore, that African countries such as Malawi should now start developing policies and legal instruments that are aimed at creating a favorable environment that would ensure efficient and effective mobilization of these resources for development effectiveness.”

According to Gondwe, there is no doubt that Malawi has adequate domestic resources with potential to finance its development programmes and become a middle income country just like Botswana and Kenya.

He therefore took time to explain some of the challenges in domestic resource mobilization in Malawi which according to him include having a narrow tax base, having an under-developed stock market among others.

“Domestic resource mobilization in Malawi has the following  challenges and these include; having a narrow tax base, an under-developed stock market, limited pension fund assets, low Diaspora remittances as well as high levels of unemployment,” he said.

Head of Department for International Development (DfID) in Malawi , Jen Marshall commended Malawi for making strides since she attained her independence and for carrying out reforms in the public sector.

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mnyamata oyikonda nyasatimes
Guest

Apo iwe na gogo wako pitala mukawa kuwalo kwa chalo ich mukatumanga ndalama zilinga pa mwezi? Dog dog dog dog

God is Good
Guest

Ise yayi vikwenera wene ndalamaa, nase tikudokera nge tingaryamo munkhombo zakung’azima, nthumbo lende na gontho vimankwinya mankwinya.

Zuze
Guest

Goodall cries that there no more money to cashgate.

mbani
Guest

watondeka mdala writings are on the wall

mphatso
Guest

look at how we suffer at mwanza boarder when you try to bring in stuff ndiye bola kutchona

goodson ndovi
Guest

DUAL CITIZENSHIP.
WE TOLD YOU ALREADY YOU GREEDY DUPLICITOUS POLITICIANS.

Charter
Guest

You want to cashgate our money eti?

Ntakataka
Guest

Okay Mr Gondwe, how about going home and enjoy your retirement

all-i-can-say
Guest

Tadzioneni dzimbava. Mwakhuta mtoliro eti? Agalu achabechabe just wasting our time. Who would want to hand over hard-earned cash to these bandits? Kagwereni uko a galatiya!!

Gerturude
Guest

SOME OF YOU DIASPORIANS ARE SO BROKE THAT YOU DON’T HAVE MONEY TO SEND HOME. THAT’S WHY YOU ARE MAKING ALL THIS NOISE.

wpDiscuz

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