Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has commended President Dr. Lazarus McCarthy Chakwera and his administration for stabilizing foreign exchange reserves.
MCCCI president Lekani Katandula made the sentiments when Chakwera hosted a Presidential Business Captains Dinner at the Mzuzu State Lodge in Mzuzu on Friday evening.
The dinner was held in honour of the business community in the Northern Region for their relentless contribution to the welfare of the economy not only in the region but the entire country.
The business captains were drawn from across all industries, with over 161 business leaders attending the dinner.
The Northern Region business captains’ dinner comes a month after a maiden edition was held in Blantyre at Sanjika Palace.
The event was sponsored by NBS Bank as its platinum partner.
In his remarks, Katandula thanked Chakwera and his government for creating a conducive environment for the private sector.
“The private sector has enjoyed the partnership your government has built with private sector since you assumed power. Some of the gains recorded in private sector since Your Excellency came to power include forex supply is now stable following Malawi’s attainment of the IMF credit facility, power supply position has also improved immensely over the past few years. Reliable and adequate power is crucial for the economy,” he said.
The MCCCI president further appreciated Chakwera’s zeal to improve the transport sector by making huge investments in road infrastructure, stressing that this will improve trade.
“We are proud to note that this year’s budget has focused on construction of more modern roads. [Additionally, business captains have noted that], the fight against high inflation is being taken seriously by your government. Malawi must improve conditions for both local and foreign investors. The national budget has been fashioned to reduce budget deficit,” said Katandula.
In his remarks, NBS Bank Chief Executive Officer, Kwanele Ngwenya, stated that no single entity possesses monopoly in the solutions to the country’s problems.
Ngwenya, therefore, stressed the need for the government and the private sector to work hand in hand to address challenges hindering growth of businesses.
“This gathering is a symbol of unity to build a successful Malawi. The network you, Mr President, are building with private sector is key and appreciated. This dinner provides a platform for deep conversations with the private sector,” he said.
The Minister of Trade and Industry, Sosten Gwengwe, told the nation that industrialization pillar in MW2063 is taking shape through established of businesses and creation of jobs.
Gwengwe said this has been made possible following the working partnership between private sector businesses and the government through various investments.
“We will work closely with private sector to improve trade and investment environment. We will improve the investment climate through progressive regulatory and policy framework for the benefit of our people,” said the minister.
