Malawi is open for business – Mutharika
Malawi President Arthur Peter Mutharika who is currently in London to attend a Global African Investment Summit will this week plead with the movers and shakers of the world economy worth billions of money to invest in Malawi, the Warm Heart of Africa, because the southern African country which is best known for its friendliness is open for business.
The Malawian leader and other leading heads of state from nine African countries joins the continent’s most influential entrepreneurs to strike key deals with perceptive investors at a game changing event in London.
Rwandan flamboyant leader, President Paul Kagame alongside Mutharika, will be among the key figures in attendance to address the trade and investment themed summit.
President Mutharika is expected to lure the global business magnets, investors, tycoon and organisations to come to Malawi to invest because the Malawi is a safe haven for business and has a thriving atmosphere with a conducive environment for trade and investment in a bid to boost Africa’s development.
Malawi, a hidden gem, is one of Africa’s smallest countries, with about 20 percent of its area occupied by the magnificent Lake Malawi – Africa’s third biggest lake.
Malawi’s northern boundary comes within nine degrees of the equator, with Tanzania lying to the north, Zambia to the west and Mozambique to the east and south.
Delegations from Malawi, Ghana, Rwanda, Democratic Republic of Congo, just to mention a few are attending the annual Global African Investment Summit (TGAIS) at Central Hall, Westminster, to showcase the most bankable projects available in their home countries.
These include opportunities in agribusiness, natural resources, power and transport infrastructure among other things.
Across the two days, presidents finance ministers, business captains and CEOs from state owned enterprises will get the opportunity to build relationships with more than 1,000 global investors including pension funds, sovereign wealth funds, private equity and asset management firms.
Collectively, the investors represent more than £4. 5 billion ($7 billion) of capital representing an increase of 25 percent on last year’s inaugural event.
Billionaires Aliko Dangote of the Dangote Group, and oil tycoon Folorunsho Alakija – the richest black woman in the world – will also be in attendance.
‘Importance’
In an interview with Nyasa Times director of the Global African Investment Summit, Paul Sinclair the summit is of great importance to the African region as well as to the investors.
“Two key factors driving the increase in investor in the 2015 summit are, firstly, the opportunity to establish relationships, and directly engage with very senior government representatives and project developers in one join forum,” said Sinclair.
“Secondly, economic factors – Africa registered five percent GDP in 2014, beating the global average by 1.5 percent, so the continent remains an attractive and important destination for investors,” added Sinclair.
British Foreign Secretary Phillip Hammond, MP called the gathering in his statement which was made available to Nyasa Times “the largest and most prestigious African investment summits in the world.”
Hammond wrote in the statement: “The fact that it is taking place in the UK is testament to the deep links between the UK and the (African) continent. Africa’s economic success is of global importance: a prosperous, safe and secure world must have Africa at its heart.”
Hammond will be joined at the summit by UK Trade Minister Lord Frances and James Duddridge MP, Minister for Africa.
According to the latest United Nations Conference on Trade and Development (UNCTAD) annual report on foreign direct investment (FDI), while investment globally, fell by 16 percent in 2014, FDI flows in Africa remained stable at £54 billion and flows in sub Saharan rose 5 percent to $42 billion, riding out challenges such as falling commodity prices.
Dr Carlos Lopes, executive secretary of the United Nations Economic Commission for Africa told Nyasa Times: “The outcomes of the summit will present a chance for Africa to use trade as an entry point for industrialisation, and play a modern role in the world.”
Sinclair, a British Ghanaian who is passionate about the development of the African continent, said the summit’s purpose is “focused squarely on transaction and the role of foreign direct investment in both the public and private sector across Africa.”
He said the summit will stimulate social and economic growth and that includes things like poverty reduction, creating middle income economies narrowing the gap between the GDP and human development industries – things that will directly benefit Africans themselves.
The summit is the brainchild of DMG events, a wholly owned subsidiary of the of the Daily Mail and General Trust plc, one of the UK’s largest media companies.
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APM says Malawi has a thriving atmosphere. What he does not say is that there is no reliable electricity or water supply, poor roads, no railway system to speak of, no medicines, unreliable internet connexions, etc. etc. Potential investors will quickly pick up on these shortfalls and look to invest elsewhere. APM doesn’t really have a clue about economics. The fact that Malawians are open and friendly means nothing when it comes down to hard economics and infrastructure. Stop wasting your time and that of potential investors and come home Mr President. There is much work to do here in… Read more »
Not impressed !!! Fix domestic issues first fool.
The whites are big thieves, their style of stealing is unique thts why we dont notice, they will create fights between religions,tribes,countrys etc and steal what they want..here they wil probably create fight bwtween tumbukas and chewas and steal chambo lol
Lets be serious before any investors come they will look at the hisotry and Malawi inflation is consitently above 20% and currency is losing 1/3 of its value every year ever since we floated our currnecy in 2012, under these tough economy realities investors would prefer to ge elsewhere where there is stability in inflation. So lets first provide them a investment atmosphere by bringing down inflation and a stable currency that is currently nosediving. There is also blackout problems so we need to put our house in order before we intend to invite investors
One feels for our President. There are times he sounds authentic and yet there are equally other times when he is more of a comic than anything else! It is simply not enough to plead with people who have money to come to Malawi and invest when the fundamentals are lacking. Lets take electricity for instance. For any sensible investor to come here, he will have to undertake a due diligence exercise to ensure that he is not sinking his money into a bottomless pit. The erratic electrical supply, the stupid water shortages, the political posturing that goes on. These… Read more »
Inu a choonadi it is not up to Patriot to provide a solution. What he is saying is that peter should tell the truth and let the potential investors make their own mind. Peter should tell them that electricity, water, communication, transport and all infrastructure are the worst in the world and cannot be guaranteed as this is the reality. Now please don’t ask me for a solution as I did not ask you to vote for me to provide solutions – Peter did.
who in their right mind would invest in Malawi, no electricity no water and no security,otherwise you are wasting your time.
Inuyo a Patriot mupeleka sulution yanji pankhani ya magetsi? Mulithandiza bwanji dziko lanu. Maybe to please Mozambique or whoever Joyce Banda rushed to sign the Electricity interconnection bill which Bingu refused to sign until there was a clear benefit for Malawi. Lero ndiizi tikuvutikable ndi kusowa kwa magetsi. Despite Joyce’s gesture Mozambique idakana feasibility study results za doko, pamene ife tidawalolera njanji yawo kudutsa Malawi. Bingu was using these issues as bargain tool so we could also be allowed certain arrangements that Mozambique would otherwise not allow. SO INUYO NDI AMENE MUMAWASAPOTA AJA SOLUTION YANU NDICHANI?
rubbish……
The Professor doesn’t get it. European business people always go after a country where they will spend less. Malawi’s Electricity supply is Untrusted. In day day of 24 hours, we only have 4 hours of electricity. These white boys are after cut cost as much as possible. Peter is talking rubbish there and yet we have electricity woes here. Tell them the truth for once. Tell them to bring then Gen Sets and let’s wait and see if it will happen. Izo mukupanga kunjako you are just fooling the hand clappers cadets, osati ife. In the mind of some of… Read more »