Malawi: Afriexim Bank President to Visit Malawi

pic sourced from internet

Blantyre, July 11, 2019. African Export-Import Bank (AFRIEXIM) President, Prof. Benedict Oramah is set to visit Malawi from July 17, 2019 to sign a Memorandum of Understanding (MoU) with President Prof. Peter Mutharika on a number of projects to be executed in the next five years.

Speaking during a District Executive Committee (DEC) meeting on Wednesday, Deputy Director in the Ministry of Industry, Trade and Tourism, Silas Sindi disclosed that the projects include construction of Matindi Industrial Park in Blantyre, an International Airport as well as a five Star Hotel in Mangochi and another industrial park at Area 55 in Lilongwe and Liwonde Dry Port.

He said although the total cost of the whole project was yet to be calculated, there were some progress going on as far as the loan was concerned, noting that close to 400 hectares of land has already been identified for the project, with Matindi Industrial Park securing 150 hectares.

"The park will have infrastructure such as factory shells and uninterrupted water and electricity supply to boost trade. We have China, Ethiopia and Zambia as some of the countries in the world that took this kind of root and are now enjoying the fruits. It is our hope that the country benefits from it," Sindi explained.

He added that, "Export development, import substitution, employment, increased direct foreign and domestic investment, skills and technology transfers are some of the benefits that will come along with the industrial park project."

District Commissioner (DC) for Blantyre, Bennet Nkasala said the Council was ready for the project as it would uplift the face of the district.

"We are happy as a Council to have such a project as it comes with it huge benefits. The District's Labour Office receives a minimum of 3, 000 job applications per month. This is a clear indication that a lot of people, especially the youth do not have any form of employment.

"So, apart from adding beauty to the district, the project will also create employment opportunities to the youth around the district and through ground rates; we will be able to generate some revenue," he said.

Nkasala said officials from the Council would hold meetings with Chiefs and other Community Leaders around Matindi area to conduct sensitisation on the positives of the project.

He emphasized that the identified land is strictly for cultivation, hoping that there would not be any hiccups when compensation begins since people would just be getting an alternative source of land.

"This would not be the case if the identified land was for their settlement," the DC observed.

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