Sparc Systems donate K10 million towards International Arbitration Centre
Sparc Systems Limited has drummed up support for the rolling out of Malawi International Arbitration Centre by donating K10 million towards the initiative.
The company made the donation on Thursday at its Blantyre offices in the presence of Malawi Law Society (MLS) and Malawi Confederation of Chambers of Commerce and Industry (MCCCI).
Malawi Law Society and Malawi Confederation of Chambers of Commerce and Industry are set to hold a symposium from 5th to 6th September in Lilongwe to create awareness towards the initiative.
Director of Technical Services at the company, Chikondi Kalolo, told Nyasa Times they supported the cause because they know it will help in resolving disputes.
“The centre will promote Alternative Dispute Resolution (ADR) and enhance legal infrastructure. As a business, we have faced challenges with clients where swift arbitration was crucial, without compromising relationships. Unfortunately, we could not find a suitable solution. We believe that many businesses in Malawi share this experience.
“That is why we are excited to support the development of the International Arbitration Centre, which will provide a much-needed platform for efficient and effective dispute resolution, preserving business relationships and promoting a healthier business environment in Malawi,” Koloko said.
He further said the establishment of the centre in Malawi will significantly enhance the country’s reputation as a favourable destination for investment, boosting its ranking on the ease of doing business index.
Said Koloko:“Once operational, this centre will provide a secure and efficient dispute resolution mechanism, attracting foreign direct investment and driving economic growth in Malawi.”
Director for Malawi International Arbitration Centre, Patrick Mpaka, hailed Sparc Systems for becoming the first institution to support the establishment of the centre.
Mpaka, who is also MLS President, said the symposium will create awareness on the benefits of the centre to the local industry by speeding up conflict resolution.
“The Malawi International Arbitration Centre is a joint venture private company limited by guarantee. Incorporated by MCCCI and MLS on 7th September, 2023, it establishes and seeks to maintain a private sector led neutral and independent facility for the resolution or settlement of commercial, investment and other disputes by way of arbitration, mediation and like processes as opposed to litigation in the courts.
“This will improve the business environment in Malawi by institutionalising arbitration, mediation, conciliation and other alternative dispute resolution in Malawi and enhancing access to commercial justice through efficient non-adjudicatory measures in the service of the local and international business community. Its unique feature is that it is a legally sanctioned wholly private led initiative that actively promotes collaboration and recognition by state parties and multilateral institutions at national, regional and international levels,” Mpaka said.
The government of Malawi signed up to the New York Convention of 1958, becoming the 167th country to be part of the international agreement for resolving disputes in commerce outside the normal court system.
The International Arbitration Act of 2023 was passed by the Malawi Parliament and assented to by the Head of State Lazarus Chakwera.
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