Prophet Bushiri dares govt, says AFRICCI can bail out Malawi Savings Bank
Malawian famous prophet Shepherd Bushiri, who is also president of African Christian Coalition for Israel Ltd (AFRICCI), has challenged Malawi government and the country’s private sector to submit project proposals to AFRICC for possible funding.
In an interview on his departure to South Africa via Kamuzu International Airport on Saturday, Bushiri expressed a keen interest of how his position can help Malawi to fund various development projects that keep hanging due to lack of funds.
“Let me say that am willing to use my powers as AFRICCI president to help develop Malawi with the loans that we are giving to African governments and as I speak, my team is looking into the matter trying to establish which areas we can prioritize,” Bushiri told Nyasa Times.
“At the same time, this can be easy if government and the private sector put forward their proposals with guarantees on projects that need funding,” said Bushiri, leader and founder of the Enlightened Christian Gathering church.
According to Bushiri, there is no limitation of money that government or the private sector can borrow from AFRICCI and the loan have long reimbursement duration of up to 40 years depending on the agreement.
“Our aim is to develop Africa and one of the ways to achieve that is by providing soft loans with a long payment duration and we are talking of 30 to 40 years depending on the nature of the project. These can be development projects in different sectors including, but not limited to mining, finance, Health and infrastructure,” he stated.
According to Bushiri, AFRICCI with its development partner, the National Standard based in New York (USA) also intends to refinance governments’ short term local and Eurobond debts and extend repayment terms in order to release pressure from the treasury.
One financial institution currently struggling in the country is state-owned Malawi Savings Bank which is on the verge of being privatised and Bushiri confirmed that AFRICCI can bail it out as they also intend to assist such financial institutions.
AFRICCI has already finalized funding presentations with Zambian government to a tune of $2 billion long term debt (30yrs) for the 750MW Kafue Gorge Lower Hydro power plant by ZESCO.
According to information made available to Nyasa Times, AFRICCI is in talks with different African governments to fund development projects and among them include providing $2 billion for the water pipeline project to government of Botswana, $1 billion sovereign debt to South Sudan, $300 million for CENIT power plant in Ghana as well as providing loans to South African companies including Eskom ($3 billion) and South African Airways ($668 million)
Malawi has for the past years struggled with power and water problems and government is doing all it can to implement long term solutions to these problems and lined up is Kam’mwamba Power Supply which is likely to get $665 million long term debt from AFRICCI if they formalize an agreement with Malawi government.
AFRICCI was created in 2014 with a vision of founders, men and women of God who desire to put their biblical principles in action. It brings together churches and Christians throughout Africa with a heart for growth and lobbies for funding from its members and development partners.
Follow and Subscribe Nyasa TV :