President Laz tells foreign investors: Malawi poised to become rich nation powered by ‘Chakwera Hi-5’
President Lazarus Chakwera has told internationa investors that Malawi has begun a great journey from poverty to prosperity, saying the southern African nation is not a poor country but its endowed resources have been poorly managed and that he has a vision to change the fortunes for the better.
Speaking to investors through a live discussion on Thursday at a webinar organized by a London-based leading investment platform Invest Africa, Chakwera said to manage the resources well, he has declared “zero tolerance” against corruption and plunder of public resources.
Hosts for the webinar asked Chakwera: “Unfortunately Malawi has become a very poor country since the early 90s, making it a huge challenge for you to turn the economy around. What will you be doing to chart a new course for the country ? Our members want to help you by coming to Malawi to invest and build new businesses and to provide training and jobs. Unemployment must be a huge problem.
“It is no secret that corruption at all levels of society has been pervasive in Malawi for decades. Serious investors don’t want to be exposed to officials who are seeking out bribes. We know it’s not easy but are you going to be focusing on this ?”
In response, Chakwera said: “Actually the country itself is not poor at all. We are richly resourced, we have poorly managed these resources and consequently Malawians have become poor. There is no reason why we should be mirred in poverty at this stage.”
Chakwera, who was head of the Malawi Assemblies of God Church before joining frontline politics in 2013, said if Malawi can get united “under a common vision, if this country can truely be served by leadership that wants to serve the people, nothing fails .”
The President , speaking eloquently, charged that he intends to build a new Malawi on the foundations of a democratic State powered by the Chakwera Super Hi 5 – his political mantra .
In his Hi5, Chakwera is committing prospering together, ending corruption, upholding the rule of law, servant leadership and uniting Malawi.
Chakwera said Malawi will develop and end poverty if the nation creates “an environment which everyone has an opportunity to create wealth and prosper while we declare war on corruption and theft of public funds, following the rule of law.”
He added: “We call these the Chakwera-Super-Hi-5.”
Chakwera, who teamed up with UTM Party president and the country’s Vice-President Saulos Chilima as his running mate in the June 23 fresh presidential election, said: “If we would do this, we would have created an environment in which Malawi would no longer be a poor country and staying at the bottom of the ladder.”
The President said to Invest Africa webinar monitored live by Nyasa Times: “ We are pursing policies that would ensure investors can come in because there is rule of law, fight against corruption.”
He continued: “This country is poised to become a rich nation and not a poor nation as it is being characterised.
“I have declared zero tolerance to corruption so we will fight to the end.”
Chakwera, who won a historic victory over Peter Mutharika in June, urged investors to trust that he will deliver on his promises.
He said his administration is setting up systems and making sure they are functional to clear the rubble left by the previous regimes.
Since taking office, Chakwera, 65, has launched investigations into some of the deals agreed by the previous government, suspending contracts.
Chakwera won a decisive 59% of the vote, the first time an incumbent president in Africa was beaten by the opposition after a court-ordered rerun. Judges in February overturned the resultof the May 2019 election, won by Mutharika, citing evidence of irregularities.
He said the government wants to create an environment in which every institution of governance such as the Anti Corruption Bureau, the office of the Ombudsman, Director of Public Prosecuton and other law enforcing agencies are functioning freely and independently from political pressure.
A UK-based Foreign Direct Investment expert Chalo Mvula told Nyasa Times that Malawi has hit the jackpot in being given this opportunity where President Chakwera directly addressed investors.
Mvula says its not just availability of resources that attracts investors, as other conditions such as the country’s economy, availability of labour, political climate and even infrastructure and technological development comes into play.
Another crucial point are the incentives that the government will put in place to attract those potential investors which Chakwera ably addressed.
“I would say at this stage the bargaining power is with Malawi, we have a new government ushered in at a back of a very promising manifesto, the President has always said he is geared to promote investments to enable the fulfilment of the one million jobs pledge , and a government that is tackling corruption head on, so really I see a great possibility of a Win-Win situation between the Malawi government and the investors” argued Mvula.
He said Malawi stands on the brink of being a new investment hub for Africa and the Invest in Africa initiative could be just the beginning of the influx of foreign investment.
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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May I dress up this man/woman called Bright M. While I appreciate that you are one time Dpp Cadet, you should bear in mind that in a house you cannot expect a child within a week unless the woman cheats on you and dont know what the church might have done. Similarly, you cannot expect Chakwera and Chilima change the flow of country’s economy in a day Or changing things within your needy time limit. These people must be given enough time and change things gradually and after all they have not even hit their limited time of promise for instance after 100 years in the office. As that one is not enough especially to you that their plans have met with Coronavirus and tightened their arms and legs though they are still struggling to it. Believe you me or not Dpp will never never come back and no matter what might come thereof. Unfortunately I did not vote but your president to insult people for no how and deployed Atupele to campaign as he was fed up with lies at the building which Kamuzu built. He was in the Ministry of Education and miserably failed to run it as was busy stealing money and deeply involved in corruption-K145m as gift???? for doing what ?. This man insulted all High Court Judges and can you openly tell Malawians which case did he handle in Malawi? The man is too old and needed to pave way such title for young ones and the gentleman was in America with his law background old nurses would have given him job if he returned but because he stole too much in Malawi thus the reason he cannot go back and only enriching Getrude and Norman.Give Chakwera & Chilima time to govern this country. Malawi is not any ranked poor Nation but people especially from South mishandled the economy.
FACT: MCP payekha singawine chisankho. Infact MCP, UTM & DPP kuyima payokha payokha DPP yikhoza kuwinaso mosavuta.
Sir, sorry to disappoint you because I am not a DPP cadet but in my 60’s an a totally commited diehard reborn MCP and I will remain MCP. But I see that our President talking about Malawi being rich and making promises that he cannot keep MCP’s downfall. This is not the pre 1994 era of one man one party rule, we are now in a democracy. Unless President Chakwera buckles up and begins to Preside instead of wasting time on conferences of one sort or another.
By the way Malawi is ranked the 2nd or 3rd poorest nation. So Chakwera should stop talking about making us rich,. but how he will stop the suffering of our people who do not know what a Hi-5 is!!!!
But Tonse partner Joyce Hilda Banda said ‘There is no Corvid 19 in Malawi’ Also the Minister of Health says that Corvid 19 in Malawi is curving down. Now you say Corvid is stoppng delivery of promises by Tonse? Also Bro you are very confused. No one will understand what you are saying.
I wish we had this able leadership from 2014. We would have had covered some miles by now, in terms of development. It’s sad that those years were such a WASTE under incompetent thief nkhalamba NTCHONA.
MALAWI TO LEAD IN THE TOURISM INDUSTRY IN SOUTHERN AFRICA
I am aware that President Chakwera is tying all his best to woe investors into the Country. Whilst he is on that point he should not forget Ministry of Agricature which is the main source of income to Malawi Nation.There must be a very good strategy to completely end up the corruption because many of corruption engineers remain in the different organization. Security of the whole country be vert tight in order to save all investors and Malawians too.Replacement of the crop -tobacco needs to be made in due course as people of Malawi are repeatedly growing same type of crop yearly.
INVEST IN MALAWI A NATION OF PEACE AND LOVE
MPH= Meritocracy Pragmatism Honesty. Borrowed from Singapore’s Lee Kwan Yew. …….the rest is history
In the middle of economic pandemic caused by this coronavirus. This govt attempted to increase minimum wage when businesses are already struggling and workers being laid off in huge numbers
This govt provided no plan to help sectors that are being affected by this pandemic or tourism, she’s. This govt did not extended APM break on mobile money bank transfers fees. This govt has shown no plan how it will tackle this economic slowdown now that we are heading into recession. This govt has no plan to bailout public orgs that provided public good instead what’s to direct them into profit making entities, with no regard to the general population. This govt has no idea that the majority of this country economy is informal. This govt doesn’t know what growth plan is nor what sector to concentrate especially now in covid 19 era. This govt is slowly losing that macroeconomics stability that had been in place for close to 3 years. Kwacha has been losing value to dollar in a tobacco auction period, unheard of in this country. This govt is only playing lip service to youths. This govt has a charted insurer as a finance minister, and a central bank governor with no idea of monetory policies.
However this govt is apparently clearing the rubbles and interface meetings and hi 5… Whatever that means folks.
It’s a total lie by the reporter to say that Chakwera’s victory was the first time an incumbent president lost elections in Africa. For starters, here in Malawi Kamuzu Banda was defeated by an opposition candidate. Joyce Banda was also defeated by an opposition candidate. Examples in Africa are plenty as well.
Do your research before you misinformed your readers.
Read again to understand. First time after judges nullified the results. Where else did this happen before?
Running a country with brand slogans and conferences… We really did elect a pastor and a marketeer to run this country!
What does Hi 5 even mean… Put policies and show economic growth plan, it’s been 3 months!
President Talk Talk Chakwera I challenge you to publicly announce audited figures of direct foreign investments and job created every 3 months. The figures will show a decline or insignificant investment and job creation. I think the million jobs within your 5 year term is a totally unachievable figure. A million jobs is roughly 20,000 new jobs a months. Your Tonse government has been in power since July, tell Malawians how many jobs you have created? Its Zero.Not 40,000 for the 2 months you have been in office. In fact 20,000 Malawians have lost their jobs in the 2 months that you have been in office. So why do you carry on lying? Better for you to be honest for you are a man of God. Your speaking articulately and being smartly turned out in a suit and tie means nothing for even Mafia dons speak articulately and dress well. Let’s see performance from you Mr President.time is running out. Because MCP otherwise having waiting for 26 years to be elected not as MCP but Tonse, MCP will never again win an election.
Agriculture is the main wealth creation mover in Malawi. I wonder whether Chakwera is into grips with what has already started happening on the ground regarding allocation of names of people who will buy subsidized fertilizer. Friends of MPs, Senior Chiefs and their indunas have their names listed living out many many people from this unfair fertilizer subsidy turned from universal. It is the worst subsidy compaired to the one under DPP. You think am lying? Check with people in the Districts in the Central Region where this process has started. Shame!
Wait iyambike and then muzanena zanuzo. Even procedure for beneficiaries is not yet out mwayambapo kale. am saying wait wait muzachita nazo manyazi patsogolo.
Zayambika kale with the allocation of names.You are in total disconnect but for us who are on the ground daily know about realtime events as they happen.