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Malawi govt’s economic team flee from forex meet

By Nyasa Times Reporter

February 5, 2012   ·   22 Comments

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Two ministers and critical members of President Bingu wa Mutharika’s economic team  fled from attending a national meeting to strategise on how to diversify the economy and broaden the country’s forex base on Saturday in Blantyre.

The aim of the consultative workshop was to solicit views, contributions and input from all stakeholders in Malawi on how best the country can boost foreign currency generation and export diversification.

Finance and Development Planning   Minister Dr Ken Lipenga was supposed to open the discussion but he changed last minute. He sent his deputy Dr Cornelius Mwalwanda and Trade Minister John Bande.

Bande opened the event and left Mwalwanda in charge, telling the private sector that the deputy minister was better placed to discuss with them on technical basis as he is well versed in finance and economic issues.

The meeting was supposed to be attended by custodians of fiscal and monetary policies including  Treasury Secretary Joseph Mwanamvekha and Reserve Bank of Malawi Governor Perks Ligoya.

Both were on the programme but shied away because of what sources in the ministry said were strong stand by President Mutharika not to tone down on devaluation and reduction of taxes in the zero defict budget.

Commissioner General of Malawi Revenue Authority, Lloyd Muhara, also left the place after Bande took leave.

The private sector representatives, Dr Mathews Chikaonda and Chancellor Kaferapanjira said Malawi is sinking and it mostly need direction from the ship’s captain who is not taking simple advice from the sector to address economic challenges.

The sector has also advised government to devalue the Malawi kwacha as a way of getting back donor support and making product produced locally competitive on the international market.

Reserve Bank of Malawi (RBM) governor Dr Perks Ligoya held a similar conference on September 13 2011.

During the September meeting, business captains gave the High Level Conference on Export Diversification and Generation plenty of ideas on how to diversify the economy and generate  $1 billion [about K167 billion] in export earnings by September 30 2012.

Tags: Bingu wa Mutharika, economy, forex, Ken Lipenga, Malawi Kwacha

22 Responses to “Malawi govt’s economic team flee from forex meet”

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1. 22

   Nsanje Boy Says:

   February 7th, 2012 at 3:16 pm

   
   

   Malawians let us look into this issue critically as I see alot of amatuerishness in our executives both the govt and private sector. Kale malonda amakhalapo nonse mukakhala ndi zithu, mumasithana ndalamazi zabwera mochedwa. This in short you can trade when you have products as for Malawi we do not have products meaning devaluation is useless it will only benefit foreign investors. This is the most important time for local malawians to take as a chance that as many investors are running away we should take over. How many Malawians own dollars or good investments ? The answer is very few. Govt should now invest in young Malawians and equip them in different agro industries land should be made available to these young men, they will produce and add value for export Malawi will change automatically. Chikaonda , Bizwick should go back to training board on investmnet techniques. Chikaonda and his board failed to invest in press agriculture and they opted for telecomunication which is a great sucker of our forex now he is joining us crying for forex , what a nuisance. He is busy investing in brewery targeting fellow Malawians not export market, what a nuisance? Now he is busy telling the nation to devalue the kwacha. Malawi lacks people who are able to implement most of our Proffessor , PHD holders have come from lecture rooms they are theoretical they do not know practical issues. This will kill Malawi. Bingu has good points for Malawians but the problem he does not have a good vessel to drive his points home, tidzamulira uyu. Govt of Malawi needs complete overhaul at capital hill, with these times most of the PS are expired , need for new breed.Old breed will criple Malawi. I am able to change the direction of Malawi not the alternatives we have in all political parties. Tembo should be fighting for young Malawians empowernment, I mean real empowernment to Mardef kaya zinazo. 240 Malawians should be sent to China or elsewhere to be fully equiped with knowledge on value adding throw them with high tech machines to various districts, buy them processing plants , let them do export business. All this should be under a project run by GOM. And Tembo should be fighting for this not what he is doing now. Like 1 Reply

2. 21

   Nsanje Boy Says:

   February 7th, 2012 at 2:51 pm

   
   

   You are all missing the point Malawi is a third world country so you can not expect poshy life for everybody but the few.If you want to test poshy life you will just watch it in UK as mai mai is doing but not living it. Mai Mai is useless where ever she is but wants to boast , kagwere uko. Tidzakulandira ukumadzabwera ngati cargo mwamwayi deportee. Like 0 Reply

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