Over 17 delegates from 10 companies from the United Kingdom are expected to jet in the country on 31st August 2015 for a 4 day visit to explore investment opportunities that are available in the country.
This has come about after the Minister of Industry and Trade, Joseph Mwanamveka visited London from 21st to 23rd, 2015 where he held bilateral investment meetings with various investors.
Briefing the press, Chief Executive Officer of Malawi Investment and Trade Centre, Clement Kumbemba, explained that the visit by the Malawian delegation led by the Minister of Industry and Trade was a per-conference exercise ahead of the Global African Investment Summit which will be held on 1st and 2nd December 2015 where President Mutharika is expected to attend.
“During this mission, the Minister met with twenty-five companies which were interested in a number of sectors. Out of the 25 companies who met the Minister 17 delegates from 10 companies will be visiting Malawi from 31st August to 4 September 2015m as a reciprocal mission to verify the opportunities that were discussed in London,” said Kumbemba.
Kumbemba added that during the visit the delegation will culminate in discussing their decisions to invest with President Peter Mutharika and also hold meetings with sectoral line ministries and other key stakeholders.
He disclosed that some of the companies that will form part of the delegation include the a construction company called Dawnus which is interested to finance and construct infrastructure projects to a value of US$80 million, Aggreko Company that specializes in the provision of off-grid interim supply of electricity from either gas or diesel, Mott MacDonald a global management, engineering and development consultancy company that adds value for private and public clients and PW Mining International British owned company with head office in Ghana.
The CEO also expressed satisfaction with positive developments regarding the Malawi Investment Forum which took place in June as some companies have already started implementing some projects.
“Recently, the Vice President of Zhihai Hengqin Zhongran Investment and Development Limited visited the country and MITC is incorporating their company in Malawi for the establishment of a 5-star hotel in Lilongwe. The hotel will be annexed to an entertainment center and the total project cost is US$50 million.
“In addition, a certain Malawian domicile in RSA has partnered with South African partners to venture into a fertilizer plant in Malawi and the Ministry of Agriculture has already endorsed the project which should be launched soon,” he said.
He also added that the MOU between the Government of Malawi and an American Company, Briggs International was signed for the implementation of a multi-billion dollar rail system that will connect Lake Malawi down to the Port of Nsanje onto the Zambezi River to the Indian Ocean by-passing the 36-kilometer rapids on the Shire River, therefore connecting Lake Malawi to the Indian Ocean without barges having to off-load their goods.