Business and Finance

Chakwera determined to revamp the economy – Chithyola

The Minister of Finance and Economic Affairs Simplex Chithyola Banda on Sunday assured Malawians of President Dr. Lazarus McCarthy Chakwera’s commitment to revamp the economy to spur social and infrastructural development.

Chithyola Banda was speaking at Mvama School Ground in Area 49 in Lilongwe during the finals of the MK8 million Honourable Alfred Jiya Trophy.

The minister said President Chakwera and his government have undertaken bold initiatives to reorganize and grow the economy.

Chithyola Banda said, among others, that the government has dealt with problems of forex and fuel as evidenced by disappearance of queues at service stations.

“We have also addressed the problem of acute scarcity of foreign exchange,” he said, “This shows that Malawi’s economy is now on the path to recovery.”

The Finance and Economic Affairs minister further disclosed that the government is working out modalities for ensuring that more urban poor communities are benefiting from the urban social cash transfer programme.

He said, just like founding President Dr. Hastings Kamuzu Banda made labour export arrangements to South Africa, the Chakwera administration is making similar arrangements to Israel.

Meanwhile, Chithyola Banda has topped up the Alfred Jiya Trophy with K2 million to bring its total to K10 million.

While commending the minister for boosting the trophy, Jiya pleaded with Chithyola Banda to finance the road projects in the area to completion.

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