Mutharika clinches energy deal in UK for Malawi

Malawi’s efforts to eradicate power challenges continue to bear fruits following the signing of an energy deal by government with a UK company on Tuesday in London.

President Mutharika luring the British investors to invest in Malawi in energy sector and its done deal
Done deal: Mutharika gets UK energy company to invest in Malawi
Ministers part of President;s delegation to UK: From left to right, Foreign Minister Francis Kusaila, Local Government minister Ben Phiri and Minister of Trade and Industry Salim Bagus

President Peter Mutharika clinched the energy deal with UK’s Private Infrastructure Development Group (PIDG).

PIDG aims to complement Malawi’s continued efforts in bringing reliable electricity to rural communities.

According  to the Malawi President, the deal will help in combating poverty in rural areas as it will lay the foundation for economic growth and improvement in people’s lives.

Briefing the media after the meeting with President Mutharika,  PIDG chairperson MAndrew Bainbridge and its Chief Executive Officer Phillippe Valahu said their team will be coming to Malawi soon to start implementing the project.

Sustainable energy is fundamental to progress and remains a key priority to promote social and economic growth.

The deal was clinched after President Mutharika courted the investors while attending the UK-Africa Investment Summit.

During the first-ever UK-Africa Investment Summit , Prime Minister Boris Johnson,  declared Britain “the investment partner of choice” for Africa.

Johnson said that Britain would no longer back coal mining or coal-fired power stations abroad, including in Africa. Instead, it would use the financial firepower of the City of London and what he described as Britain’s world-class green technology industry to spearhead innovation and job-creation on the continent.

“Not another penny of UK taxpayers’ money will be directly invested in digging up coal or burning it for electricity,” he said, adding that Britain could not “trundle over to Africa and line our pockets” by encouraging technology it no longer supported at home.

Akinwumi Adesina, president of the African Development Bank, said that Mr Johnson’s announcement on coal was in line with the bank’s own thinking.

“I do not invest in coal. Coal is the past, it’s not the future,” he said. “It is in Africa’s interest to have an endogenous process of growth that is green.”

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Mercie Ngwenyama
Guest
Mercie Ngwenyama

I have worked on similar initiatives in the past. Usually solid deals are negotiated prior to the head of state meeting the CEOs . There is a need for a better understanding of what the investors are looking for in terms of Tax breaks , guaranteed loans etc. One can not vet investors and have all necessary parameters covered in a day or two. It is these kind of agreements that go no where once the investors learn of the challenges facing the nation . The investor has to learn all facets of the Malawi economy before committing themselves. Access… Read more »

Razor chakwera
Guest

Peter ndi deal

M'mwaaaaaa
Guest
M'mwaaaaaa

Our own delegation in the UK, we have people with fake doctorates attending, but we still expect tangible output from these so called summits……eishhhhh I cry for my beloved Malawi.

Zamadula
Guest
Zamadula

Our journalists are lazy. I wish someone would list all the deals APM “clinched” in the last six years, and which ones actually came to fruition. APM just loves these trips to Europe and America. He hardly visits African countries…

Kachindamoto Ku Mwawa
Guest
Kachindamoto Ku Mwawa

Very true. How can a company whose Directors have not even visited Malawi, invest millions in Malawi.
Its heart breaking that APM in all these years has not understood that having coffee and shaking hands with a interested investor is NOT investment made. APM you have failed to attract any investment except for the Chinese crooks who come to steal from Malawians/
By the way APM Mr President be better is you wear your hearing aid as it was embarrassing watching you not hearing or understanding the questions.

Mangochi Kabwafu
Guest
Mangochi Kabwafu

Can’t agree more.

Nkhuzi
Guest
Nkhuzi

I wonder how many energy deals we have so far. There is Zambia, Mozambique, China and now UK. Can authorities come out clearly on which is which

chimanga
Guest

Anothe mombera university

Ponderson
Guest

U want him to build a university for the ungrateful tumbukas????munya muwina asakhwi inu

Mangochi Kabwafu
Guest
Mangochi Kabwafu

Ponderson ndiwenso mbuzi ngati agogo ako omwewo ndi mulakho. Clearly a product of quota.

C Banda
Guest
C Banda

Is this a Mana propaganda report about PLANS??

I notice that there are no details whatsoever about how “PIDG aims to complement Malawi’s continued efforts in bringing reliable electricity to rural communities”.

Jolobala
Guest
Jolobala

A Bagus kusiya maliro ambale wanu wahida kuthamangira coffee ku UK koma makaladi ndinu anthu adyera kwambiri

Timo Clouds
Guest
Timo Clouds

Death is not an unusual occurrence in society. Life must go on. Was he the undertaker?

Heaven Come
Guest
Heaven Come

Don’t generalise that all coloureds to this. Be sensible Jolobala. zimenezi ndi zimene zimabweretsa kuiyana mitundu.

Destroyer of liars
Guest

Isn’t this an Indian film making false promises of investing in power in Malawi?

Kuswa Kuswa
Guest

Excellent Your Excellency!!!