Ng’oma Champions Mining as Key to Malawi’s Economic Recovery

Minister of Mining Kenneth Zikhale Ng’oma has reaffirmed the government’s commitment to restoring macroeconomic stability and alleviating poverty by unlocking the full potential of the mining sector.

Speaking in Lilongwe on Thursday at the launch of the World Bank’s 20th Edition of the Malawi Economic Monitor (MEM), Ng’oma emphasized that the government is working closely with global partners, including the World Bank and International Monetary Fund (IMF), to steer the country toward economic recovery.

Ng’oma acknowledged that Malawi is facing serious economic and climate challenges, but he expressed optimism that the Malawi Economic Monitor will provide critical insights to address these issues effectively.

“The mining sector is a cornerstone of the government’s ATM strategy. If well-developed, it has the potential to stabilize the economy, create jobs, and boost revenue through taxes and exports,” Ng’oma said.

However, he admitted that infrastructure gaps, regulatory hurdles, and limited experience in large-scale mining operations remain key obstacles that must be addressed for the sector to thrive.

World Bank Country Manager Firas Raad praised the Malawi Economic Monitor for promoting data-driven policy decisions, which he believes can help Malawi capitalize on its untapped mining potential.

The 20th edition of the Malawi Economic Monitor was launched under the theme “The Rising Cost of Inaction,” highlighting the urgency of implementing economic reforms to prevent further financial strain on the nation.

 

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