The ambitious US$2.6 billion (about K1.9 trillion) Cape Maclear Investment Project is set to commence in lakeshore district of Mangochi in 2018 which if done may change the face of the area, according to project promoter Bright Malopa.
The Cape Maclear Investment consists of three projects conceived and pursued by Cape Maclear Hotel and Golf Resort Limitedand comprises a Special Economic Zone (SEZ) spread within the radius of 30km around the Cape Maclear peninsular, a state-of-the-art international airport covering a five square km stretch at Namiyasi and a smart town linked to the SEZ.
“Within the SEZ, there will be world class resorts spreading across a stretch of 275 hectares from Malembo to the Cape with a chain of high class hotels,” said Malopa in an interview.
Malopa and new Executive Chairman and key investor of the Cape Maclear Holdings Limited Ross John Beatty paid a courtesy call on President Peter Mutharika to brief him on the project.
The project will also have an international financial zone around Sauya Village along the Monkey Bay – Golomoti Road and 850 holiday homes for the rich who will want to spend their money in an exciting environment.
“Mangochi is the centre for Sub-Saharan Africa and the idea is to turn the SEZ into an economic hub for the region within a five hour-flight radius, hence the construction of the airport because without it, the whole dream within the SEZ would be a white elephant,” said Malopa.
Cape Maclear Holdings Limited includes renowned global investors, Trivest Investment Group of Bahamas, Neo Energy of UK and China Harbour Engineering Company.
On the local scene, Export Development Fund, a Reserve Bank of Malawi subsidiary, forms part of Cape Maclear Investment Holdings.
The new project is also expected to create approximately 30, 000 jobs.
Malpa said 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.
Tourism experts say this is an ambitious project that could change the face of Monkey Bay and turn it into a mini city.Follow and Subscribe Nyasa TV :