Malawi ministers beckon Spain investors at South Africa meeting

Malawi cabinet ministers  met nine Spanish investors in Pretoria, South Africa to lure them into investing the southern African country  a result of a Memorandum of Understanding (MoU) signed on business collaboration between the two countries.

Malawi ministerial delegation which comprised of  Foreign Minister Dr. George Chaponda, Francis Kasaila the Mnister of Transport and Public Works and Joseph Mwanamvekha Minister of Industry and Trade travelled to Pretoria at the invitation of the Spanish Commercial Office in Johannesburg.

According to spokesperson of Ministry of Foreign Affairs, Quent Kalichero, during the meeting, the Ministers, supported by officials from Malawi Investment Trade Centre (MITC), Ministry of Transport and Malawi High Commission in Pretoria, conducted “business consultations” with heads of Spanish companies based in South Africa.

The Spanish potential investors included Group Cobra and Elecnor experienced engineering companies specialising in building and operating industrial infrastructure; Gransolar and Gas Natural Fenosa interested in generating gas and energy; Inabensa a transport and network infrastructure developer; Aqualia with special focus on water purification and maritime works; Ace Consultants; Greenmax and AEE Power.

“The investors showed keen interest to be Malawi’s partners in development energy, transport and network infrastructure, mining, agro – processing and other priority areas for Malawi,” Kalichero said in a statement made available to Nyasa Times.

In his remarks, leader of the Malawi delegation, Chaponda emphasised that the Government of Malawi has a vision and mandate to develop all sectors of the country with much focus on economic and infrastructure development.

“He cited Malawi’s political and economic stability as enabling and conducive factors for doing business in the country, and added that the establishment of a One-Stop investment service centre has eased the process of establishing business in the country,” reads the statement.

Chaponda  therefore encouraged the investors to consider investing in Malawi, as it is among the most desirable investment destinations in the world.

An impressive presentation was also made on the available bankable investment and trade opportunities in the country, according to the statement.

The Malawi delegation was later treated to a working lunch at the residence of the Spanish Ambassador in Pretoria, where delegates networked and Investors sought clarification on various investment-related issues.

The Spanish Ambassador in Pretoria pledged to support investment endeavours between the Kingdom of Spain and the Republic of Malawi.

Following an MOU signed in September in US, Spain will give Malawi a grant of $5 million (about K2 billion) to enable the country expand the frontiers of social services and the reach of the sanitation circle.

Spain’s capitalist mixed economy is the largest worldwide and the 5th largest in the European Union, as well as the Eurozone’s 4th largest.

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