President Peter Mutharika has said the government has identified a serious investor in the struggling power sector but could not confirm reports that ESCOM was being privatised.
“Several investors are coming to invest in the power sector. Soon we will be signing the memorandum of understanding,” Mutharika said.
His comments come amid calls for the DPP led government to improve the services at Escom as Malawians now experience long hours of unexplained power cuts.
Mutharika said this Tuesday to state controlled Malawi Broadcasting Corporation.
On Monday, Pentecostal pastors openly challenged Mutharika to ensure Escom provides power all day to attract serious investors in the country.
Mutharika however did not say whether the government will direct the investors to buy off shares in Escom or put up new power infrastructure altogether.Follow and Subscribe Nyasa TV :