Goodall says ‘it pains’ that Malawi is ranked poorest country

Minister of Finance, Economic Planning and Development Goodall Gondwe has said it is not amusing to note that  Malawi remains among 47 countries designated by the United Nations (UN) as Least Developed Countries (LDCs.

Finance Minister Gondwe:  Stand up and work hard

A  latest United Nations Conference on Trade and Development (Unctad) report published on Unctad website www.untcad.org on Tuesday observed that Malawi, alongside other 46 LDCs must develop the small and medium enterprises (SMEs) to meet the goals of the 2030 Agenda for Sustainable Development if it is to foster efforts on ending poverty

“It pains me each time I see a report from outside the country that Malawi is the poorest country in Africa. We are determined that this should stop,”said Gondwe. “ Therefore, the way to do it is to stand up and work hard and ensure that our economic growth is much higher than it was before.”

The Finance Minister admitted that the SMEs sector is one of the key areas in the economy, but the environment has not been conducive because of high interest rate environment.

He hopes Malawi could get out of the list of the LCDs by 2020 on account of continued economic growth due to reduced interest rates and reliable electricity.

The Unctad report says many people in LDCs are forced into small-scale, low-value entrepreneurship by necessity with small companies accounting for 58 percent of all firms in these countries.

The report also said that governments in LDCs should, therefore, focus on boosting entrepreneurs and establish firms that seize opportunities to create innovative products and services, employ more people and grow dynamic businesses that have a transformative, ripple effect throughout the economy.

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Patrick Mbewe
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Patrick Mbewe

Chipani cholamula mdi cha Kwa Goliati. Koma thumba la ndalama tinamupasa mtumbukayi akumbule (asunge- muchirhomwe) lero mukuti Ife Arhomwe tikuba ndalama za Boma ,koma thumba la ndalama wakumbatira ndi mtumbukayi. Ndikanena kuti Arhomwe ndi atumbuka tikubera limodzi ndikakwitsa ?

Dagobert
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Dagobert

Like Bingu said: ” It’s not the country which is poor, it is the people…”
And I add: It’s the leadership wish is poor!

Beholder
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Beholder

As long there’s no servant leadership in this country nothing will change the status quo. The den of thieves continue to spread the virus of poverty with no remorse.

Nagausi
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Nagausi

Kodi amenewawa ndi amaudindo anzako dzaka 65 dzopumila ntchito sidzidakwanebe? Akusiyana chani ndi ma civil servants????????????

Chete Nkufuna
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Chete Nkufuna

This is pathetic, comfortably on their chairs kusolola, what pain is he talking about? ? A real Malawian is the one in pain and looking for a change of leadership, you have taken us backward because of high rate of corruption acts we deserve better.

#DzukaniAmalawi
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#DzukaniAmalawi

The pain that you feel Hon Gondwe is no match to the pain that the ordinary people endure on a daily basis

Khwalala
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Khwalala

Goodal doesnt like this country and does love to see his people prospering thats why he is now full of lies just as APM and his cabinet is. Am just praying that lucky shall be on the side of a good leader in opposition MCP to win next year’s general presidential elections. We tried to choose on our own just as God allowed the Israelites to choose their king but we made the very poor choice likewise until God choose David for then, so next year let God choose the good leader for us to bring hope in my people… Read more »

Jimmy
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Jimmy

Maliseche enanso ovetsa chisoni nde ndiamenewa

Achiswe
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‘continued economic growth’ ? Where does this man live? We have just read that the kwacha has lost value and fuel prices have increased. We have also been warned of increased load shedding and longer electricity blackouts. Goodall’s management of the economy under President Mutharika is clearly going nowhere fast. No wonder Malawi is classed as undeveloped and in the lowest rated countries. What has His Excellency got to say about the situation after all his boasting at the UN?

Napoleon muza
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Dada Gondwe that is a heart of a fighter. When we feel the pain we moved forward to fight. All those that are rich, they had to accept and make a decision to win the battle. The problem we have in Malawi is that everything is politicised. Those in opposition don’t see as something that can happen but their party can , yet we all know the parties need all to achieve. Together we can.

Zikomankhani
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Zikomankhani

Everything is politicised? Don’t you see all this stealing and wastage? Billions of Kwacha have been spent on FISP and ADMARC (while there is still food insecurity) over the past 4 years. Smaller amounts, but still in billions, have been given away to people like Mulli and others. And then there’s the wanton corruption where each major contract is inflated with the additional funds going to DPP, APM and other well connected people – the K145 million Pioneer scandal is just the tip of the iceberg. If DPP wins another term next year, Malawi will not just be among these… Read more »

Huwee
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Huwee

Ruwanda is used by the outside world to disturbalise DRC.They also get on there to steal precious minerals.Such are the sources that push their economy

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