Over 15 Malawi companies submitted their project proposals for possible funding to African Christian Coalition for Israel (AFRICCI) Ltd, President for AFRICCI Prophet Shepherd Bushiri has confirmed.
Speaking in an exclusive interview with Nyasa Times after the event which was hosted at Golden Peacock Hotel in Lilongwe last week, Bushiri said he was impressed with the projects.
“Every proposal that we received is so vital and necessary for the development of our nation and as President of AFRICCI, I will do everything in my powers to make sure that we fund the most important projects of them all and see how best we can help the ones that failed to meet our minimum requirements,” said Bushiri.
According to Bushiri, some of the project proposals they received include $103 million proposal from Electricity Supply Cooperation of Malawi (ESCOM) for the rehabilitation of existing power stations, $200 million proposal from Southern Region Water Board for expansion and upgrading of water distribution network, $450 million from Globe Metals from Kanyika Nobium for mine development and $10 million proposal from Injena Oil Limited.
Lilongwe Water Board also submitted a $381 Million project proposal for the Extension of water treatment plants at Kamuzu Dam, Construction of Diamphwe Multipurpose Dam, Upgrading and expansion of Water Distribution Network and Installation of Raw Water Conveyance System.
Bushiri said AFRICCI is ready to release funds once they finalise agreements with the companies that submitted project proposals to the organisation.
As for ESCOM and Water Boards, Bushiri said they will need a guarantee from government before they give out the funds.
“As I said, we received quite a good number of proposals and most of them met our minimum requirements although some of them request very little money, which we can’t give as AFRICCI because we are looking at big budget projects,” Bushiri told Nyasa Times.
“I understand the problems that Malawi is facing especially on power and water provisions. Our understanding is that government will put politics aside and come in to provide guarantee for these two parastatals so that we can release the funds to them as soon as possible,” explained Bushiri.
Bushiri emphasized the need of government to come in and provide the guarantee so that the companies which have been approved should get the loan to start their projects.
“Unlike other organizations, our loans are very straight forward and do not carry many restrictions. Loans from AFRICCI can be refunded even at a period of over 40 years depending on the agreement. What we really need now is government’s guarantee for the companies we have marked to help and when that is done, I will immediately put my signature on paper to let our development partners release the money,” said Bushiri .
“We are ready to help ESCOM and Water Boards and all other companies with serious projects that will benefit Malawi and develop the nation. Truth be told, I have personally taken an interest in the two companies because I know their importance and the longer we neglect to help them, the more Malawians continue to suffer,” explained the man of God.
According to information made available to Nyasa Times, AFRICCI is also in talks with different African governments to fund development including providing $2 billion for the water pipeline project to government of Botswana, $1 billion sovereign debt to South Sudan, $300 million for CENIT power plant in Ghana as well as providing loans to South African companies including Eskom ($3 billion) and South African Airways ($668 million).
AFRICCI was created in 2014 with a vision of founders, men and women of God who desire to put their biblical principles in action. It brings together churches and Christians throughout Africa with a heart for growth and lobbies for funding from its members and development partners.Follow and Subscribe Nyasa TV :