Kuwait Energy Company to invest in Malawi
Alghanim Group of Companies from Kuwait has shown interest to invest in Malawi in the areas of energy and infrastructure development, creating hope that the country’s energy problems will soon be over.
This was disclosed when the company’s president, Tarek Issa, met with Malawi’s President, Joyce Banda, at the Grand Hayart Hotel in Dubai on Sunday.
President Banda is in Dubai to attend the World Energy Forum which opens Monday at the Dubai International Convention and Exhibition Centre.
Said Issa, “We are specialized in power generation and infrastructure development and just last year our group of companies was invited by Her Excellency to Malawi to see the potential for power and infrastructure development.
“We hope to be sending a delegation of experts from our company probably in November this year to examine the situation.”
Issa said his company was interested to invest in Africa, especially Malawi, because of the good things about the country which, he said, the company has been getting from Malawi’s Ambassador to Kuwait.
Speaking after the audience Banda had with the potential investors, that also included another Kuwait company called Forward Ventures Limited specialized in airports, railways, roads, highways, energy sector and industrial and institutional projects, Deputy Minister of Environment and Climate Change Development, Catherine Gotani Hara said it was Banda’s desire to see the energy sector grow.
“This is one of the five sectors her Government is concentrating on which is why she has taken the trouble to invite as many interested investors as possible, considering that the energy sector is the engine for economic development,”said Hara.
Hara said the President realizes that for the economy to grow it needs reliable and sustainable energy and that Alghanim was just ready to do that.
The Minister, however, bemoaned the bureaucratic tendencies which she said have often frustrated potential investors.
“The challenge the President was giving us Ministers and technicians is to clear the way for the investors so that they do not fail to even register their investments.
“She has asked us to remove some of the bottlenecks considering that there are so many investors she is wooing yet on the ground, people do not want to help her,” she said.
President Banda who has, been visiting a number of countries in a bid to woo support for the revival of Malawi’s ailing economy is expected to address the World Energy Forum Monday after attending its official opening.
She is also expected to participate in the signing ceremony by heads of state and governments, of a declaration of 22nd October as World Energy Day.
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