Malopa pitch for $2.6bn Cape Maclear Project at UK-Africa investment summit
Promoter of an ambitious Cape Maclear the $2.6 billion (K1.9 trillion) project in lakeshore district of Mangochi, Bright Malopa, attended the UK-Africa investment summit seeking to attract more investors to project that could change the face of Monkey Bay and turn it into a mini city.
Malopa, who is an employee of Malawi Communications Regulatory Authority (Macra), is on rcord saying investors have shown interest to fund part of the venture consisting three projects conceived and pursued by Cape Maclear Hotel and Golf Resort Limited.
He is on record saying they have already identified sponsors, including NEO Energy Asia, China Harbour Engineering from China, Al Manhal International Group from Abu Dhabi in United Arab Emirates (UAE) and AE7 Group of Companies as project finance and development managers.
However, Malopa has been taking on social media photos of his meetings in London where he has been beckoning investors to fund part of the tourism project.
“Cape Maclear Resort Project will consist $750 million [K549 billion] touristic, leisure and residential project featuring five hotels, 700 serviced residences, a signature golf club and golf course, tennis academy, a marina, an aqua park, an aquarium, a cultural village and a major events arena. We want to have this project take off,” said Malopa.
According to Malopa, investors are ready to pump into this project between 30 percent and 40 percent of the total project cost whereas the rest will be debt from PTA Bank, African Development Bank (AfDB), Afrexim, KFW and HSBC and hedge funds from Switzerland subject to clear position on Mangochi Airport.
Malawi Investment Trade Centre (Mitc) said Cape Maclear Initiative is one of the projects in the compendium that country took to the London summit.
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But guys i hope you people will not sale our country, we keep looking for investors!
This has always been and will remain a very stupid idea. They can’t get the land rights. the environmental impact would be disastrous. There’s too much protected area in Cape Mac. The villas are overpriced and would never sell. There’s no demand locally for such a lavish investment. Mangochi and this fantasy idea have nowhere near the economy needed to sustain a whole international airport, aquariums, power plants, tennis academy etc. No investor would get their money back within a century. There’s far better uses for $2.6bn into this country instead of these silly fantasy theme park ideas. Tired of hearing about this every year. Malopa and team continue to promote this nonsense of course because they would be getting large cuts of the funding money UP FRONT. This is a scam plain and simple. Bad investment.
This Malopa bulldog is nothing but a noise dispenser. He has been pitching for this project for close to 3 years now but nothing tangible envisaged on the ground. Malopa likes publicity but is devoid of expertise to promote the impoverished country. The problem is Malopa thinks he is one of the movers and shakers, but unfortunately, the boy is just one of those overzealous Lomwes who think beyond their scope. Cape Maclear will be developed by real thinkers and planners.
So this was a just paper work but where are the drawings
Same story as APM since when having we been hiring shown interest meet investors but a few year down the line Malawi has nothing to show for it but blackouts, corruptions and demos plus Chinese criminals posing as investors! How many investors have Peter meet with all his western foreign trips and how many which one came with visible investment in Malawi benefiting Malawians?
Malopa the same dog who licked Bingu’s tail end And amassed wealth from shady deals?? Koma mwatitola anyani inu.
Kudikwata ndi chala. Keep on dreaming.
Who funded his trip to the UK?
Normally azungu take off their huts indoors……..
I was also wondering what type of manners he has!
It’s winter in the west, but only outside, not indoors.
This project is pure and simple money laundering by unscrupulous Dubai based Indians and for smuggling through the airport.
This is misplaced idea – which funder can waste their $2.6 billion? Only foolish ones – the politics is not good chief. But anyway keep on dreaming, you lose nothing by dreaming. You started a long time ago – 10 years with nothing to show chief – why waste you time. sell the land ena amangepo.
Now i know. ‘Fly Emirates. Fly Better.’
Will believe it when I see it. It’s good news though. This kind of development needs Malawi government improving some facilities in our nation so rich investors can find Malawi attractive.
I mean we don’t even have decent public toilets in our cities. OLD TOWN Public toilets in Lilongwe and city center makes it for a hilarious comedy. Simple things that we need to get right. Roads that look like they are taking you to the grave yard. You can’t fix one road and brag about it the whole year. We love what you are doing marketing the country but it should look like a country that can be sold. At present we need to put in alot of hard work to make the country really attractive. We can’t expect foreign investors to help us with public toilets. Really?
This is beautiful, we need to support it regardless of our political affiliations, bravo Bright Malopa and team Mutharika, push for more of such projects.
Ihave no much to say but I was born and raised in Cape Maclear much as development is concerned ?Malopa and his Team were supposed to have sensitization around Cape Maclear and surrounding areas.Apo biiii zidzavuta Wez
Not much from Bright Malopa. He has been in the limelight for many years now but nothing on the ground. Very good at talking .
Nkhani yabwino chabe anthu are too obsessed with Paul Kagame and Rwanda without seeing our own potential developments….
Would you blame them?
we have the potential but not seem to be exploiting it
Of course we’re obsessed with all the developmentsame happening in Rwanda coz of a visionary leader Kagame, yet our own Govt is obsessed with corruption and nepotism hence the can’t see potentials and opportunities in our own country.