Malopa says investors ready to fund K1.8 trillion Cape Maclear Initiative
Former presidential aide Bright Malopa has said investors have been beckoned to pump up to 40 percent for the $2.6 billion (K1.8 trillion) Cape Maclear Initiative (CMI).
Malopa is a project promoter for CMI venture consisting three projects conceived and pursued by Cape Maclear Hotel and Golf Resort Limited.
He is quoted in the local press saying the project has already identified sponsors, including NEO Energy Asia, China Harbour Engineering from China, Al Manhal International Group from Abu Dhabi in United Arab Emirates (UAE) and AE7 Group of Companies as project finance and development managers.
Accoridng to Malopa, Nico Holdings Limited and conglomerate Press Corporation Limited (PCL) are also in the loop and discussions are at an advanced stage.
“The investors are ready to pump into this project between 30 percent and 40 percent of the total project cost whereas the rest will be debt from PTA Bank, African Development Bank (AfDB), Afrexim, KFW and HSBC and hedge funds from Switzerland subject to clear position on Mangochi Airport,” Malopa is quoted by The Nation.
According to what Malopa told the paper, CMI is exploring possibilities of empowering locals with the help of United States Agency for International Development (USaid) to invest in fish farming to supply the resort and other external markets.
CMI is an ambitious project that could change the face of Monkey Bay and turn it into a mini city, according to unnamed tourism experts cited by The Nation.
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MALOPA-NO SANE INVESTOR GOES TO: (a) a country which has a very small population compared to its neighbours. (b) Where ESCOM only works for the a quarter of the year and hence affecting productivity. (c) CORRUPTION IS THE ORDER OF THE DAY. (d) Public Procurement rules can be flouted at will (e) You have a government whose policies are unpredictable or don’t make sense. (f) SECURITY IS A BIG PROBLEM (g) The POLICE HARRAS CITIZENS ON THE ROAD-Interpreted as abuse of freedom of movement and human rights (h) NEPOTISM is the basis for making all decisions-commercial or otherwise (I) Its… Read more »
Chonde APM and MACRA bosses mulowerelepo this guy is stealing MACRAs resources and time to run his side businesses what he is saying is kuti ku MACRA akungodikilira to hit the gold…kungotola chikwama adzaitaya..chonde MALOPA be principled….I know fame umaililira koma apa ukuzipachika
I seriously fail to understand this full-time employer of MACRA and MW government who can plainly show the govt that ..yes he is employed but he is running his side businesses kodi ndizololedwa? SEARCH ME
How did he find himself as the project coordinator? Was the post advertised or its the same scenario of nepotism and cronyism. We need people who have clean records not these mbuzi zongokhalira kuba…kodi malopa yi si amene MBC inamukanika uyu. Shame on Malawi.
Imagine, was the post advertised? The same people who have been stealing our monies are the ones managing projects. Kuti abenso? Shame indeed.
Please appreciate that this is his private project. It is the same as you running a kabaza business and making yourself managing director of your business.
Dr Chodziwadziwa, Malopa is not project coordinator but a project promoter. I think the two are not the same. Maybe your question should be why Malopa when Mota-Engel was chased from same area? Where did Malopa get the money to buy the land he is to develop when Mota-engel failed to win the support of the people?
Chimzimu chonyasa Thanks for your observations and comments!!!
WE NEED MORE OF SUCH INITIATIVES. IF WE CAN HAVE TEN OF SICH PROJECTS, MALAWI CAN NEVER BE THE SAME.
Cashgaters. I will never trust DPP anymore.