Malawi’s investment opportunities should always be hinged on the demographic dividend of a youthful population which is a catalyst of steady production and expansion of the economy’s export base, says President Prof Peter Mutharika.
Mutharika visited British Parliament at Westminster in London on Monday where he has an audience with the Speaker John Bercow and addressed the all party group which has interest with Malawi and Zambia.
In his address, President Mutharika -who is on an official visit to UK – touched on the many opportunities that Malawi has for potential investors. As a thread from that he assured the investors of the readily-available human resource base.
“Malawi like most developing countries, has a vast untapped pool of youthful population of people below the age of 18. In Malawi, they constitute around 60% of the total population,” he pointed out.
As a deliberate government policy on skills development -in view of the impending massive investment- President Mutharika informed the parliamentarians how his community colleges initiative has taken ground and promises to achieve desired results both in the short and long run. Malawi government intends to construct 193 community colleges by 2019 to reach out to all the country’s administrative constituencies.
The Malawi leader pointed to agriculture, energy, eco-tourism, infrastructure development among others as sectors that are open and ready for investment. Despite giving the hopeful economic forecast in relation to investment, President Mutharika was quick to point out how the curtailing of budgetary aid by the UK government has affected operations and service delivery at Capital Hill.
He told the parliamentarians how the Democratic Progressive Party (DPP)-led government has employed austerity measures, reformed the public management systems and expedited Cashgate cases as a way of reorganizing government and restore donor confidence.
President Mutharika also reiterated his government’s commitment to women and girl empowerment.
At this juncture he told the gathering of efforts by First Lady Getrude Mutharika hrough her Beautify Malawi (BEAM) Trust in empowering girls who are in school.
The chairman of the all party group of Zambia and Malawi Oliver Colvile MP said he was impressed with the Malawi President’s vision.