Yapoma in K2bn Mzuzu shopping mall project 

 

Ireland-based Malawian entrepreneur and businessman, Vincent Matupi, is investing 2 million euros (about MWK2 billion) for construction of mega shopping mall in the northern region city of Mzuzu, expected to cover about eleven acres of land.

Matupi: Yapoma Ventures Limited director

Matupi: Yapoma Ventures Limited director

Matupi -- I want to bring new shopping experiences

Matupi — I want to bring new shopping experiences

Matupi told Nyasa Times in a telephone interview from Dublin Thursday that he hoped that that his investment will be a milestone in contributing to infrastructural development of the country.

“I want to bring about a difference in as far as our shopping experiences are concerned,” said youthful Matupi.

He said it was high time Malawians started “taking up tasks to develop the country instead of leaving everything to the government.”

Said Matupi: “The truth is that half a century after our independence, our development especially as far as infrastructure is concerned is still abysmal. We must take lead as citizens to contribute to such.”

Matupi revealed that the mall, which will be constructed under the auspices of Yapoma Ventures Limited – a conglomerate for which he is managing director – will also help “create” a number of jobs.

“We will be able to employ hundreds of people throughout the construction period, as well as when the project is completed,” he said.

Nyasa Times understands that this will not be the first time that Matupi’s firm will be constructing a shopping mall. Yapoma Ventures Limited constructed another mall in Kafukule in Mzimba which is rented out to Smallholder Farmers Fertilizer Revolving Fund of Malawi (SFFRFM).

According to Matupi, the duration of the project is one year.

“We’ve already paid for the land [around Lupaso, after Luwinga] and we expect to commence construction work in November. Since we’ve all the resources at hand, we should be able to complete the project around December 2017,” explained Matupi.

Of the eleven acres, five acres will be for the actual shopping mall structure while five acres will be for a reserved for a car park.

“We’ve planned for 30 shops and two cinema theatres within the confines of the mall and a car park that will be able to take up to 200 cars,” he said.

He added: “My investing in these projects is that I want to provide fireproof shopping malls in the country considering the fires that have recently caused havoc to a number of mega buildings.”

 Nyasa Times also has learnt that Matupi is getting “support” from two Scottish property developers who are investing in shopping malls across Africa.

Despite sailing through turbulent economic times, Malawi – one of the poorest nations in the world – is registering successful entrepreneurs and businesspersons such as multi-billionaire founder and leader of the Enlightened Christian Gathering (ECG) Prophet Shepherd Bushiri.

Bushiri, based in South Africa, is one of the youthful successful people from Malawi boasting of three private jets and over fifteen gold mines.

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43 thoughts on “Yapoma in K2bn Mzuzu shopping mall project ”

  1. Joshua beza says:

    That’s good idea matupi don’t forget promise is a credit

  2. KUKHALA says:

    GOOD NEWS MR MATUPI THUS YOUR BUSINESS INTEREST AND MALAWI IS LOOKING FORWARD FOR ITS IMPLEMENTATION. OTHER MALAWIANS SHOULD COME UP WITH OTHER BUSINESSES AS MENTIONED IN THE COMMENTS HEREIN. ALL LEGAL INVESTMENTS ARE WELCOME. MY ADVICE IS THAT OTHERS SHOULD COME UP WITH LOCAL PRODUCTION FIRMS WHICH WILL SUPPLY THE PROPOSED AND EXISTING MALLS PLUS EXPORT SOME. I BELIEVE THAT IMPORT SUBSTITUTES HAVE BOTH LOCAL AND FOREIGN DEMAND. LET MALAWI LEAD IN INVESTMENT ACTIVITIES AND FOREIGNERS SHOULD BE FOLLOWERS.

  3. Mutharikas brought nothing to Malawi but only milked Malawi and built mansions from a poor country. These thieves should leave our Malawi. Look at how productive this boy is not like parasitic Mutharikas.

  4. shosholoza says:

    Yapoma, you have chosen the best place. Development in Mzuzu should be going towards Ekwendeni. Good young man I will join you shortly with another good project some where between Ekwendeni and Mzuzu.

  5. Truck says:

    THATS GOOD AMBITION KEEP IT UP!

  6. CHEWA FEDERAL FRONT says:

    This is obviously good news, though Mzuzu’s CBD would have been a more ideal location. Well, it depends on what kind of “mall” he intends to build at Lupaso and how different it will be from the one he constructed at Kafukule.
    Isn’t it ironic that as PTC is winding up business in Blantyre with closure of 4 stores, Mzuzu is having a mall construction boom!!! Actually, some people have hinted that MPICO could soon put up another mall in Mzuzu.

  7. Za Zii!!! says:

    Zioneka zikayambika bwana,kwacha kuno ikungogwa tsiku lililonse,ndiye mwina mwanena nsanga, muganizenso kaye mwina,chifukwa sidzafika 2b ikutchulidwayo wawa kikkkkk! komabe mwapanga maganizo abwino, Bwanji takumanani ndi bwana Bushiri mwina mungathe kupanga chinanso chachikulipo chomwe chitha kuti chotsako mmatope aunphawi ife achinyamata, taonani chifukwa chosowa chochita tayamba kupha anthu powaganizira kuti apha msungwana kudzera mummatsenga,zonsezi ndichifukwa chosowa chochita,njaraso ndiye yatipha ife wana wanu kuno,2019 ikanafika nsanga inuyo kunoko tasankha kale inuyo kuti ndinu Pulezident wa chitukuko,Mwatiuza kale ndalama zimene mulinazo kuti 2B sitidzavutika kukufusani za chuma chanu bwana.

  8. PhD holder says:

    Anjiba. That guy has been rich all through check his background. Don’t insult people that you do not know! Focus on developing yourself. The young man comes from a rich family and studied at the best uni in Ireland. He ain’t poor like you..Get a life!

  9. Harry says:

    Brilliant idea. Lupaso is a suitable site. That is the way the city grows. We cannot just bunch everything together. Go ahead young man. Those who oppose Lupaso let them find their own place and construct theirs.

  10. Rambo 4 says:

    Amalawi sanje too much mzanu akumanga mall mwati iyayi bola akanasegula factory,inuyo bwanji ozindikilanu osamanga factory yanu bwanji.jelas wil not take us anywhwre

  11. Ron NYALEYE says:

    I every agree on fire proof buildings this time around..

  12. ochuluka nzeru says:

    Rankin just build your production company. Yapoma wants a Mall that is what we call entreprenureship !

  13. Anjiba says:

    Guys let’s be serious somesometimes,pumbwa ngati ameneyo atipusitse zoona,olo shirt wavala ndi ka chisoti kakeko zotchipa,akuvutika kusowa pogwira ku Ireland ameneyo basi wati nditchuke pa nyasatimes,nanu a nyasatimes tamakulani,basi ntiana tomwe mami na alibii kumaika zauchitsilu zankutu ngati zimezi,this guy is a fraud do not be fooled.

  14. Mr Njonjoli says:

    I agree with those who are advising this man to build a production firm not a large GULOSALE / SHOP. 2 Million euro, why not invest in package plant for all the rice grown in north then you can export or meat processing plant, we can export sausage and beef to Tanzania, Zim etc etc. Something to add value to the agri sector in the North. Koma you want to be spending 3 million a year buying tomatoes, mpilu, underwear from China and RSA to sell in your shop and you call that development? When I find you after building the GULOSALE, ndidzakupatsa Theche

  15. Mandela says:

    Good plan but consider location atleast city center in mzuzu along m1

  16. Madoda says:

    Yapoma: Its coming full steam! Looking forward to superstructure

  17. gulukunyinda says:

    Muyambe inu amphawi production yotu. yambani kulima coffee, nchewere ndi nsawa

  18. news says:

    we need factories not malls where we find same old shops just moving into the new spaces

  19. odomondo says:

    Akulu wake sono,this is a brilliant idea Mr Matupi Sir,ise tikulindila waka akulu to help you in managing this…you know now…for old time sake lol

  20. Che Misidikholo says:

    Kuipa kwake kwa aMalawi amene ali ndi mwayi wa ndalama ndi choncho..Aliyense amafuna kupanga invest mu business ya consumption and not production. Nde choncho tidzadandaula kuti kwacha ikugwa. Invest in production please muthandiza kubweretsa forex tikamapanga export

  21. Nkhambako says:

    Yapoma usadandaule, mudzi uli onse sipasiya kukhala ena ochuluka nzeru tsono, usamvere zonena zinazi zoti m’malo momapanga kuchita process khofi wambiri ndiponso wa bwino iwe ukufuna kumanga shopping mall. Bwerani akulu muzakamange shopping mall nako kwithu kuwe nga nkhunyakhe uku. Taona pa Dunduzu pasintha kale fikani akulu.

  22. Rankin Kumwenda says:

    I totally agree with Naisi Shati.W e do not need shopping malls. We need production not retailing.

  23. Mapwevupwevu says:

    Mmalo momapanga process more Mzuzu Coffee inu mukuti mumange shopping mall! Foolish Tumbukas!

  24. RUTH CHAPUMA says:

    The guy seems to be already rich, I don’t think he needs profits out of the intended business. What he needs is to develop Mzuzu city

  25. Mtumbuka wa Atumbuka says:

    This is proof that Vachawa/Vangulu hate the idea of federalism coz they know in 10 years’ time everyone will be flocking to Mzuzu. Tumbukas are visionery, good administrators, hard working, honest and ndi ophunzira. munya muwona

  26. Naisi Shati says:

    Even though we need more investment in production, it is still encouraging that Malawians in the diaspora think of investing in the country. Let other Malawians in the diaspora emulate this

  27. Naisi Shati says:

    A pity that Malawi is an importing and consuming nation and not a producing and exporting one. No wonder the Kwacha is always sliding down. Surely we already have more than enough shopping malls? And surely we need more producing units for import substitution or export? But of course there are several reasons discouraging production, such as blackouts, water problems, pilfering, cashgates, etc,etc. Let us resolve these challenges to make our economy stronger. Shopping malls can hardly help here. If anything, they would just aid importation and therefore more pressure on the local currency

  28. mchawa says:

    Nanunso a Skyislimit kumazisata zinthu. Akati build in the city center or CBD ndekuti akuti akamange ku LL or BT? Doesnt Mzuzu have CBD or city center. eish fuck fuck ndekuti chani.consult first

  29. Dan says:

    That’s a welcome idea but I have problems with the location. Lupaso is just too far from Mzuzu City. Find another place that will bring business to you as an entrepreneur, coz I believe you are not doing this for charity.

  30. Vithu says:

    Mzuzu doesn’t have enough people to support this, huge and extravagant shopping mall.
    Are you serious? Have you done your consultation to be assured that this is a viable investment ?

    People are poor in mzuzu.

    Build factories, processing plants etc… not shopping malls.
    Malawi needs to go industrial, people need jobs and the country needs to export finished products to generate forex.
    That’s real development!

  31. WAMDALA says:

    EUROPEAN STANDARDS
    PLEASE !!!!

    TISENYE NYOZI WAMDALA !!!

    GOOD LUCK !!!

  32. Skyisalimit says:

    why is it not the best location for a [email protected] You just used to the idea that everything has to be in LLs or BTS? Fuck that idea.

  33. george says:

    Kodi ia Bushiri a business man?

  34. bryson says:

    welcome news, lets develop the country.

  35. Viyazi Tembo says:

    Good move, but we need infrastructure that will last not these other substandard…..

  36. master says:

    change the location to CITY CENTER my bro, lupaso is very far my brother

  37. 2016 welcome says:

    Will this maul be multistorey? Please can someone consider constructing multistorey buildings with escalators. A Malawi ambiri amavuta kuyenda pa escalator akapita kuja. Komanso multistorey buildings save space. Kapena poti ndi mavuto amagetsi tilinawowa.

  38. invest says:

    Consider buying power per Capita to realise your investiment

  39. KJ says:

    This is great ! However, Lupaso is not very well suited as it is outside the main city centre. I propose to you that you engage Mzuzu City Council for another place around city centre. I know Mzuzu City Council has plans for construction of city mall oppiste Mataifa market (Old Bud Depot) but currently do not have resources. You may discuss the possibility of using the land. Public Private Partnership should be encouraged

  40. BBC says:

    Brilliant idea. This is the only way to go if the country is to develop.

  41. Martin says:

    Never knew that we have such visionary people in dublin whilst others are busy gossiping, backbiting and too much into other people’s business as if they are their guardians. Shame shame shame

  42. chindotoli says:

    Lupaso, not the best location for a mall, think of some place near the main cbd

Comments are closed.