Company closures worry Malawi Chambers of Commerce
Malawi Confederation of Chambers of Commerce and Industry (MCCI) has expressed concern over company closures and has since urged the government to put in place sound economic policies to avert the situation.
MCCI president Karl Chokotho said this in Blantyre when Trade minister Joseph Mwanamveka met some business people and officials from the chamber.
“It is sad that companies continue to down size their operations, whilst others are closing down completely,” he said.
He said the government needs to come up with sound economic policies to save the situation saying inflation and interest rates remain extremely high posing a great threat to industrialization and manufacturing.
MCCI hailed the ‘Best Buy Malawian’ Initiative as a welcome development urged the government to come up with policies on this.
Chokotho said the initiative can be senseless if Malawians continue to produce low quality products.
Industry and Trade minister Mwanamveka said there was need to change mindset, saying he was of the view Malawians have potential to produce quality products that can compete favourably on the international market.
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Malawi is useless to the world
The Minister seems to know nothing about company closures and he have no options on how he can avert company closuses
Companies and factories are closing or scaling down because our excessive kwacha depreciation, how can companies survive when kwacha deprecaites by 75% within 6 months. Look at zambia there currency deprecaited but now its the strongest currency in the world, the problem is with our governor Chuka he beleives in kwacha deprecaition, but when appreciation times comes he blocks appreciation, how can companies and factories survive with these harsh conditions. Chuka start when kwacha was at 168 to a dollar now we are at 700, and very soon 1000, in other countries this type of poor economics would be criticised.… Read more »
Ndiye dpp imeneyo, ikamati zinthu zikuyenda amanena choncho
Who should start the Mindset Change Game? Does Mwanamveka’s children go public schools in Malawi? If Buy Malawi campaign only concentrates on material things then we are a nation without sense of direction. Children of the Ministers must be sent to public schools and learn under trees just like any other Malawina child. Otherwise, telling the nation to consume the mostly low quality Made in Malawi products when you guys in top government positions enjoy the exotic high quality products is a mockery to noble Malawians.
Mbite
Apao Kugola
The Fearless Samurai (Jwampiriu)