Mutharika says Malawi youth ‘selling cars like bananas along the roads’

Malawi remains an economic rising promise, President Peter Mutharika has said, stressing that poverty is an investment opportunity  as the southern African nation has a lot of resources and opportunities.

Mutharika: poverty is an investment opportunity

President Mutharika was speaking at the UK-Malawi Investment Forum hosted by Hogan and Lovells Africa in London which was attended by over 50 businesses from the UK, Europe, Dubai and Malawi.

He said his administration is undertaking belligerent measures to create growth of the private sector by doing a number of things including improving the economy, launch of foreign direct investment program, public sector reforms which had led to Malawi improve on the World Bank index of doing business and infrastructure development including expanding energy access and roads network.

Mutharika said Malawi has a very good macro-economic environment which every investor needs.

He said: “Many positive-minded Malawians are busy pursuing the opportunities we have created and changing their lives.”

Mutharika told investors: “If you come to Malawi today, you will find young men and women selling cars like bananas along the roads in every town. More Malawians can now afford a car more than ever.”

He continued: “In rural communities and remote villages, young Malawians are buying motorcycles everywhere.  As a result, you will find mushrooming filling stations everywhere because we are consuming more fuel than ever.”

The Malawi leader said these are visible signs of a changing economy transforming the lives of Malawian people.

Mutharika said Malawi is an African destination that can benefit investors to have quick returns and contribute to wealth creation.

In stressing “ a matter of fact” that poverty is an investment opportunity, Mutharika narrated a story to the investors that: “ Two men went to an island to find out if they could open a new factory for making shoes. They went sent by one master but to bring home independent reports.

“When they came to the island, they found that nobody was wearing shoes. In fact, the people of the island had never heard of anything called shoes.

“The two men came back to their boss with two different reports, two different perspectives. The first man said it would be a waste of time and money to build a shoe factory on the island because the people were poor, barefoot and did not even know what shoes are.

“The second man said he had found a great shoe market because nobody was wearing shoes. The master listened to the second man and opened up a very successful shoe business on the island,” said Mutharika

The President said the story also reminds that money is there to be created.

“The challenge is that most people do not know the art of creating wealth,” he said.

But Mutharika said his job jin leading government is to create conditions that enable the private sector to grow and create new wealth.

Malawi High Commission in the UK  jointly organised the forum with  Invest Africa,  leading business and investment platform.

In 2017 Invest Africa and the Business Council for Africa (BCA) announced a strategic partnership and advised their respective memberships of the intention to merge their operations. Malawian James Woods-Nkhutabasa has been serving as a Malawi Country Director and Advisor for the organisation since 2013 and is called upon for works regarding the continent.

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XVD
Guest
XVD

The government needs to put in place programs that encourage entrepreneurship in the youth. Other countries offer grants to start up companies run by the youth but considering our economic situation something like that would be extremely difficult. Alternatively they can reduce taxes for such companies since that’s another thing that prevents the youth from starting legitimate businesses.

LGBT PROPER GANDA
Guest

Koma macadet ndie kuti alipo ochulukatu
Sinanga ogulitsa ndiogula

Angulu
Guest
Angulu

Only in Malawi do people sell cars along the road, that shows how dysfunctional we are! This is not something to be proud of Sir, In a proper economy where all systems are functioning well, cars are sold at dealerships, everything is well regulated!!!!!……. ayayayayayayayayay!

Mangochi Kabwafu
Guest
Mangochi Kabwafu

Proper cars with warranties and not bangers.

Nabetha
Guest
Nabetha

Kikikikikikikikiki I guess it’s the bloody Cadets playing with tax payer monies which they keep in cartons and car boots. Who else can this be……Chaponda et al., Thom Roadblock et al.

achairda
Guest
achairda

Munthalika, are you a malawian?

Mangochi Kabwafu
Guest
Mangochi Kabwafu

Good question.

Wachiyao
Guest
Wachiyao

Koma abwana akudziwa kuti anthu amene amawauzawo ali ndi abale awo kuno amene angawafunse kuti awauze zoona zake zenizeni? Nanga ngakhale ku UK’ko ndiye magalimoto amagulitsidwa ngati mmene akunenera abwanawa? Bwana, tell them as it is without exaggerations.

Mtete
Guest
Mtete

Going all the way to UK to preach about selling cars by the roadside or blurbing about community colleges.
How about investment in power to drive industry and in the process create jobs for the thousands jobless youths who in turn will pay taxes for the wellbeing of the population.
May the Almighty look down favourably on beloved Malawi.

Mangochi Kabwafu
Guest
Mangochi Kabwafu

He’s thick.

Mangochi Kabwafu
Guest
Mangochi Kabwafu

Make cars and not selling bangers on road sides.

Malawian
Guest
Malawian

This old man looks like he has a problem in his head needs to seek mentally illness. How could he lied to these white European countries southern African countries about his own country Malawi now I believe that this is the same that happened to the may 21 2019 elections that he lied to this EU countries southern African countries about the elections that it was credible free and fair so they believed him. Is this second hand car dealing not a sign that Malawian are starving to me this second hand car selling and motorcycles it’s not a sign… Read more »

Mangochi Kabwafu
Guest
Mangochi Kabwafu

Dementia

Shame!
Guest
Shame!

Is this guy really this retarded/stupid/mentally challenged?