Chakwera dangles carrots to SA-based Malawian investors

Malawi President Dr. Lazarus McCarthy Chakwera has called upon Malawian investors based in South Africa to consider ploughing their investments back to their native country, assuring that his administration is creating a conducive environment for social and economic growth.

Chakwera made the call during an audience he held with the investors on the eve of the 15th BRICS Summit currently underway in South Africa.

The audience was aimed at marketing the ‘vast opportunities that exist back home in light of renewed aspirations and possibilities as outlined in the Malawi Vision 2063’.

The group had persons that are thriving on the South African market across the telco, infrastructure and mining sectors.

President Chakwera wrote on his Facebook page that he took advantage of the audience to enlighten Malawian investors in the rainbow nation of his government’s deliberate focus on Agriculture, Tourism and Mining (ATM) strategy – as lead sectors chosen to drive economic growth through sustainable investments.

“I have also assured them of our enduring commitment to creating an investment-friendly environment that allows businesses not only to enter the market with ease but thrive within their niche. It was a special occasion that was driven by both mutual heritage and realistic business ideas. We have all agreed that building a self-reliant and inclusively wealthy nation is a task that calls for concerted efforts from every Malawian whether based home or abroad #MW2063,” said the President.

The 15th summit of the BRICS group, composed of major emerging economies (Brazil, Russia, India, China, and South Africa), takes place from today, August 22, to Thursday, August 24, at the Sandton Convention Centre in Johannesburg.

This three-day event will encompass a meeting with leaders from the BRICS emerging economies, including Malawi.

President Chakwera aims to utilize this summit to engage with the Government of India regarding a plan to repay a debt of approximately $136 million (equivalent to around K148.9 billion) owed by Malawi to India.

Speaking when he departed for the summits at Kamuzu International Airport, the President emphasized that the current level of Malawi’s debt to India is unsustainable, stating his intention to seek a resolution to enable the country’s developmental pursuits.

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