Russia investments to Malawi expected – Ministers

Government says it expects Russia to invest in Malawi’s technology, energy and mining sectors to help in the economic development process of the country.

Kasaila: Malawi and other African countries have an opportunity to woo investors from Russia
Bagus:Malawi would specifically woo investors in energy and mining

Minister of Foreign Affairs and International Cooperation, Francis Kasaila expressed the hope Sunday in Sochi, Russia ahead of the first Russia-Africa Summit to be held on 23 and 24th October, 2019.

Russian President, Vladimir Putin will host 35 African Heads of State and Government to the summit in the Black Sea Resort City of Sochi, Russia aimed at renewing  Russian-Africa cooperation.

President Arthur Peter Mutharika will attend the summit.

“We are pleased that we are getting more countries involved in the development of our continent and Malawi in particular.

“It is good that with the coming in of Russia, we have more stakeholders in the development process of the country,” he said.

Kasaila said Malawi and other African countries have an opportunity to woo investors from Russia who can bring technology and invest in the country to create more opportunities for Malawians.

“Russia is a huge country; it has technology, experience, manpower and, therefore, it is good for us in Africa.

“But as Africa, we would like to see to it that we are able to create opportunity for our youths because they are in majority. If we cannot attract investors to invest in Africa then these youths will be forcing themselves to travel out of Africa which is a challenge,” he explained.

Minister of Trade, Industry and Tourism, Salim Bagus echoed Kasaila’s sentiments saying Malawi would specifically woo investors in energy and mining.

“This is a great opportunity for Malawi. After our discussions during the economic forum to be held this week, we will open trade links with Russia.

“We have brought officials from Malawi Investment and Trade Centre (MITC) to identify other possible areas of trade where Russian companies can invest,” he said.

Bagus also said Malawi needs serious investors in energy and mining sector hence the need for Russian companies to invest and explore mining in the country.

In his pre-address statement to participants to the Russia-Africa summit, Russian President Vladimir Putin said the forum would help identify new areas and forms of cooperation.

He also put forward promising joint initiatives that would bring the collaboration between Russia and Africa to qualitatively new level and contribute to the development of economies and the prosperity of the people.

The summit will be preceded by an open plenary session of the Russian-African Forum which will be addressed by President Putin and Egyptian President, Abdel Fattah El Sisi who is the current Chairperson of the African Union.

In his pre-address to the participants to the summit, President El Sisi underscored the importance of the event noting that it is the first of its kind during a period of major global and international transformation.

“African countries and Russia have common positions in their international actions based on the principles of respect for international actions and respect for international law, equality, non interference in the internal affairs of states, the peaceful settlement of disputes and a commitment to multilateral actions in accordance with the two sides’ similar vision of how to confront new international challenges,” he said.

The plenary session of the Russia-Africa economic forum will provide a potential growth point in cooperation between Russia and African countries.

More than 30 business events will be held on the sidelines of the Russia-Africa economic forum and panel sessions  on security and industrial collaboration between Russia and Africa.

At the end of the summit,  a joint communiqué on trade, economic and investments  agreements will be signed by  African heads of state.

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mseu wa boma
mseu wa boma
1 year ago

Bagus mentions energy and mining. If we scrapped the useless FISP annual allocation, and instead invested it in energy instead at the end of 5 years we would be somewhere. I want to agree with those who are saying that we need to start investing in ourselves. Russia is only interested in competing with the West; they have absolutely no interest in Africa, except to the extent that this may anger Western countries. Let’s stop wasting our precious resources on meaningless activities like FISP (meaningless because despite pouring in huge resources each year, we still need to purchase maize from… Read more »

Agenda Setting Theory
Agenda Setting Theory
1 year ago

They question which our leaders and ourselves are always afraid to ask is “how did our friends managed to get where they are?” they did not do it by attending many conferences, they used their own God given resources. We have everything in our country to make us prosperous just like any country that has prospered but we go for an easy route of begging, evening begging salt and bread in Sochi.

Mandado@147
1 year ago

Allowances coffee and tourism freebee there not Malawi remember

Mtete
1 year ago

Recolonising Africa. Russia does not want to be left behind. After all, China is far ahead looting natural resources, including, apparently, forestry products like Hardwood. And we let them go ahead exploiting us.
Stupid Africans. Our children will never forgive us.

vikhumbo
vikhumbo
1 year ago
Reply to  Mtete

true true. and we r excited to adopt another looter of our resources. Shame on us

Mwinithako
Mwinithako
1 year ago

Most Malawians are the bull shit isle in the world!!!Am sorry for them kkkk

Maunits
Maunits
1 year ago

Magufuli refused to attend this summit by saying he can not spend tax payers money to listen to rhetoric’s of Russians no. This president anapanga but Malawi look achina Kasaila anapita kale kale komaaaaa dzikoli lovetsa chisoni. Tanzania has sent 1 minister only not two. Kususuka tsikulina posachedwapa kutha.

Iantana
Iantana
1 year ago

Desperate deals kwinako exploitation and end up losing out…. we all know Russians!

Omwami Mangoche
Omwami Mangoche
1 year ago

What is amazing is that while we are busy chasing the Russians for their investment and technologies and MANPOWER. We forget that we have that Manpower in Malawi as well as the diaspora. We have untapped human resources if only we believed in them and not the white people. We still have the belief that the white people are the ones that know best

Achiswe'.'
1 year ago

The Industrial Revolution began in Britain in the early 18th century and then spread throughout Europe and the world. It is a fact that the countries of the white people are more advanced than African countries, particularly south of the Sahara, with the exception of SA which again was developed by white people. We can certainly learn from the whites, but we don’t have to be depending on them all the time for investment. Good governance and a high standard of education are the keys to our development. Unfortunately neither of these are to be found in Malawi. We have… Read more »

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