JB lures China Development Bank, Huawei Tech to invest in Malawi

Malawi President Joyce Banda who is currently in China on official visit has met officials of Huawei Technologies and beckoned them to invest in the southern African nation.

During the meeting, the Malawi leader urged them to invest in the sector of information and communication technology, which is one of the priority areas her government has singled out to spur social economic development in Malawi.

The busy working schedule of President Banda continued when she also received a delegation from the China Development Bank.

During the meeting, the Malawi leader called upon them to establish a Farmers Development Bank in Malawi.

President Banda meets Huawei Technologies Vice President
President Banda meets Huawei Technologies Vice President

Banda explained that time had come for Malawian farmers to graduate from subsistence farming into mechanised commercial farming to contribute towards the country’s economy which is agriculture based.

She said that the proposed Bank would assist them with soft loans, which would give them the means to access economic and technical empowerment to go into serious, organised commercial farming.

Said the President: “If the dream to transform villages that we have in Malawi is to be realized, farmers have to grow export-potential crops, under ┬áthe presidential initiative on hunger and poverty alleviation. If you (China Development Bank) come in, you would complement already existing efforts.”

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