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Saudi relationship to unlock Malawi’s economic potential

President Dr Lazarus McCarthy Chakwera says the relationship between Malawi and Saudi Arabia has the possibility to unlock the country’s socioeconomic potential.

President Chakwera made these remarks at the first Saudi-Africa Summit in the Saudi Arabia Capital Riyadh.

President Chakwera told the gathering that Malawi has several potential areas which if unlocked can turnaround the country’s economic fortunes.

He said: “The partnetship between Malawi and Saudi Arabia will unlock endless socioeconomic possibilities for my country and Africa.”

He added: “Malawi the Warm Heart of Africa, has the potential for mining, energy, and other areas, as well as an energetic youthful population.”

The Malawi Head of State also paid tribute to the Kingdom of Saudi Arabia for the infrastructure development support to Malawi through the Saudi Fund for Development, who are financing the Makanjira flagship road project.

The Malawi-Saudi Arabia relation dates back to 1999.

The Saudi-Africa Summit is a strategic cooperation aimed at strengthening diplomatic and trade ties between the Kingdom and African countries.

Chaired by the Saudi Prince Mohammed Bin Salman Al Saudi, the summit has attracted an array of African Heads of State such as Cyril Ramaphosa of South Africa, Tinubu of Nigeria, Emmerson Mnangagwa of Zimbwabwe, Hakainde Hachilema of Zambia, Filipe Nyusi of Mozambiwue, and Samia Suluhu of Tanzania, among others.

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