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 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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That’s good idea matupi don’t forget promise is a credit
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.
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.
That is a welcome development ,you can also involve us for interio designing and finishes with high standards.We are in the same business but in diaspora.
We have roofed malls in Botswana and South Africa. We have also done the ceilings and interios of [email protected].
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.
THATS GOOD AMBITION KEEP IT UP!
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.
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.
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!
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.