HomeBusiness and FinanceUndule warns against culture of greed and jealousy in Malawi's business environment

Undule warns against culture of greed and jealousy in Malawi’s business environment

Malawi’s esteemed governance and human rights advocate, Undule Mwakasungula, has challenged the Malawian Government and the business community, urging them to eradicate the prevailing culture of greed and jealousy. He cautions that failure to address these vices may result in Malawi losing valuable investment opportunities.

Mwakasungula has noted that the presence of greed and jealousy within the business environment could deter potential investors, thereby depriving the nation of essential resources to foster wealth creation and employment opportunities.

Mwakasungula: No one would want to invest in a country or society where people are preoccupied with greed and jealousy
Mwakasungula: No one would want to invest in a country or society where people are preoccupied with greed and jealousy

This warning comes in the wake of recent legal actions against the directors of Paramount Holdings Limited (PHL), who were taken to court following allegations made by competitors regarding the company’s appointed dealership with Yamaha Motor Company Ltd of Japan.

The directors of PHL, including Prakash Virgi Ghedia, Arvindkumar, Atit Patel, and Suresh Khimji Jagatiya, are currently facing three charges related to government procurement deals, despite having fulfilled all the contracts awarded to them.

Independent investigations have revealed that PHL’s success in delivering on government contracts has not been well-received by competitors. They have resorted to creating and disseminating false information aimed at tarnishing the company’s reputation.

This antagonistic behavior appears to stem from an inability to withstand market competition, leading to the utilization of social media to spread negative publicity about PHL.

In their book, “Greed: How Economic Selfishness Harms Us All,” authors Dan Ariely and Aline Grüneisen have also challenged the Malawi Government and business community to curb their greed and jealousy, emphasizing that fostering cooperation over these negative traits would be beneficial for both individuals and society as a whole.

Responding to the situation involving PHL directors, Mwakasungula, a renowned activist, stressed that businesses cannot flourish in an environment tainted by greed and jealousy, as is currently the case in Malawi.

“No one would want to invest in a country or society where people are preoccupied with greed and jealousy. It is against this backdrop that I urge the Malawi Government and genuine business players to confront this culture and work towards establishing a favorable environment for investment and economic growth,” Mwakasungula stated.

He further added that while competition is vital for growth in a functioning market, business players must refrain from succumbing to greed and jealousy, as these attitudes serve no positive purpose.

Mwakasungula also emphasized that greed and jealousy could act as significant barriers to new investments, innovation, and creativity, potentially causing Malawi to miss out on invaluable opportunities for growth and development.

He has subsequently challenged the Malawi Government and business stakeholders to cultivate a culture that resists jealousy and envy by prioritizing collaboration over competition. By promoting a growth mindset that emphasizes continuous learning and improvement, the focus can shift from comparison to personal development.

Mwakasungula concluded by urging business operators to foster a culture of appreciation and gratitude, where players recognize and value each other’s contributions, thereby reinforcing positive behavior and fortifying relationships.

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