Mzuzu to become vibrant regional financial hub under DPP, airport plans on –  President Mutharika

President Arthur Peter Mutharika says under his administration Mzuzu will grow into an economic and financial hub that can better serve the Northern Region and neighbouring countries.

President Peter Mutharika is met by former Vice President Khumbo Kachale during the official opening of Reserve Bank Mzuzu branch (C)Stanley Makuti

President Peter Mutharika is met by former Vice President Khumbo Kachale during the official opening of Reserve Bank Mzuzu branch (C)Stanley Makuti

President Peter Mutharika by Paramount Chief Chikulamayembe at the official opening of Mzuzuz Reserve Bank (C)Stanley Makuti

President Peter Mutharika by Paramount Chief Chikulamayembe at the official opening of Mzuzuz Reserve Bank (C)Stanley Makuti

He said this on Wednesday during the official opening of the Mzuzu branch of the Reserve Bank of Malawi.

“You all know that no one can build a bank where nothing economic is happening. It is because there is growing economic activity in this region that we can now have this Reserve Bank here. We have
constructed a Reserve Bank branch here because Mzuzu is a centre of economic activity in this region. This bank is our symbolic support for economic growth in this region,” he said.

He commended the Central Bank for regulating the country’s financial sector with on-point and timely policies since 1968.

“The Reserve Bank plays a critical role in our economic lives. This is the institution that regulates our financial lives because they regulate the financial sector. Today, a bicycle transporter from Katoto, wakabaza is able to send money on his mobile phone to his mother in Karonga because of the financial policies Reserve Bank has put in place,” said Mutharika.

The President noted that besides the financial relevance of the structure, it also adds value to the city’s infrastructure landscape.

“We now agree that we can make Mzuzu a magnificent city. And we can make Malawi a better place. Imagine if Mzuzu had only ten of buildings like this! This imposing and majestic Reserve Bank has transformed the scenery of Mzuzu City.

“The City of Mzuzu deserves economic infrastructure just like Lilongwe and Blantyre. That is also why we are planning to renovate and modernise Mzuzu Airport. We all deserve development. This Reserve Bank project tells us that Malawi is moving forward. It tells us that economic development is spreading in all the regions of the country,” he said.

The President also spoke at length of the need for RBM to work together with other stakeholders in tightening the screws to improve efficiency among all industry players and curb financial crookedness such as forex externalization.

Mutharika also assured people of the north that his administration would invest in many development projects in the region including the rehabilitation of the Mzuzu Airport as the people identify a new place for the airport.

“Stop thinking poor. Malawi is very rich. We will take Malawi from a poor developing country to a rich developed country but this will take time. Malawi will be rich and self sufficient,” said the US educated  politician.

President Mutharika is on a week-long tour of the Northern Region.

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8 thoughts on “Mzuzu to become vibrant regional financial hub under DPP, airport plans on –  President Mutharika”

  1. chapunthuka says:

    yes create urban demand to improve the lives of illterate, poor, weak, bonny people in the village. clap clap clap our hands. what is the fund generating activity that will be put in pace to propel development. chimanga timapanga the whole country but is taken all the way to blantyre to produce popcon packed and taken back to the village. the problenm is you are the head of a small and elongated country with lots of resources that remain untapped. when in nsanje you cant know what happens in the north coxz you know things happening in Mozambique and difficult to connect whith fellow malawians. its better to divide the country and let tanzania, zambia and mozambique take shares.

    1. Haswell says:

      I like that Mr President preach on that Malawi is rich and NOT poor! Please pass this information even to all polictical leaders, church leaders wherever they will be to say malawi is RIIIIIIIIICH!

  2. Chambe says:

    I quote: “munthu wokupangira chitukuko ofunika kugwirizana naye; osamamutosatosa” anatero mkulu wina wa ku Mzuzu kuno. Lero taona mseu wa Karonga-Chitipa womwe adalephera kumanga o Banda ndi o Muluzi. Tikumva kuti plan iri mkati ya Mbombera University. Ife tidekha kuti tipeze zomwe tikufuna ku Mpoto kuno

  3. Winston Msowoya says:

    Peter do not cheat our people please.There is no way that the economy of our country will improve,this is humbug.Yes,the economy will improve,but not under your corrupt and clueless stewardship.May be South and Central Malawi will improve,but I bet,not DEAD NORTH it will be a miracle for sure.Seeing is believing Mr.Mathanyula.

  4. Kenkkk says:

    He is avoiding education quota system. What about the role of tertiary education in economic and social development of Malawi? Say something pleasing to the northerners Peter. Talk is cheap.

  5. zycqy says:

    I think it is about time we start supporting the constructive agenda the DPP government is putting in place.

  6. Chandamale says:

    Zazii basi it takes time which time are you talking about? All presidents have spoken it takes time you thieves. Stop lies to us.

    1. Haswell says:

      I would like to congratualte Khumbo Kachali for the maturity he is showing in his political career. Let other politicians emulate this very good example. Malawi is one regardless of political affliations. When there is an issue of national importance lets join hands together for the betterment of malawi and not few individuals. Bravo Khumbo!!

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