Ireland-based Malawian entrepreneur and businessman, Vincent Matupi, is investing 2 million euros (about MWK2 billion) for construction of mega shopping mall in the northern region city of Mzuzu, expected to cover about eleven acres of land.
Matupi told Nyasa Times in a telephone interview from Dublin Thursday that he hoped that that his investment will be a milestone in contributing to infrastructural development of the country.
“I want to bring about a difference in as far as our shopping experiences are concerned,” said youthful Matupi.
He said it was high time Malawians started “taking up tasks to develop the country instead of leaving everything to the government.”
Said Matupi: “The truth is that half a century after our independence, our development especially as far as infrastructure is concerned is still abysmal. We must take lead as citizens to contribute to such.”
Matupi revealed that the mall, which will be constructed under the auspices of Yapoma Ventures Limited – a conglomerate for which he is managing director – will also help “create” a number of jobs.
“We will be able to employ hundreds of people throughout the construction period, as well as when the project is completed,” he said.
Nyasa Times understands that this will not be the first time that Matupi’s firm will be constructing a shopping mall. Yapoma Ventures Limited constructed another mall in Kafukule in Mzimba which is rented out to Smallholder Farmers Fertilizer Revolving Fund of Malawi (SFFRFM).
According to Matupi, the duration of the project is one year.
“We’ve already paid for the land [around Lupaso, after Luwinga] and we expect to commence construction work in November. Since we’ve all the resources at hand, we should be able to complete the project around December 2017,” explained Matupi.
Of the eleven acres, five acres will be for the actual shopping mall structure while five acres will be for a reserved for a car park.
“We’ve planned for 30 shops and two cinema theatres within the confines of the mall and a car park that will be able to take up to 200 cars,” he said.
He added: “My investing in these projects is that I want to provide fireproof shopping malls in the country considering the fires that have recently caused havoc to a number of mega buildings.”
Nyasa Times also has learnt that Matupi is getting “support” from two Scottish property developers who are investing in shopping malls across Africa.
Despite sailing through turbulent economic times, Malawi – one of the poorest nations in the world – is registering successful entrepreneurs and businesspersons such as multi-billionaire founder and leader of the Enlightened Christian Gathering (ECG) Prophet Shepherd Bushiri.
Bushiri, based in South Africa, is one of the youthful successful people from Malawi boasting of three private jets and over fifteen gold mines.Follow and Subscribe Nyasa TV :