12 July 2019

Malawi: African Export-Import Bank President to Visit Malawi Next Week

African Export-Import Bank (Afreximbank) president Benedict Oramah is scheduled to visit Malawi next Wednesday to sign a memorandum of understanding (MoU) with the Malawi Government on the implementation of projects in the next five years.

Ministry of Industry, Trade and Tourism deputy director Silas Sindi said this on Wednesday during an executive meeting at Blantyre District Council.

He said the projects include the construction of Matindi Industrial Park in Blantyre, an international airport and a five-star hotel in Mangochi, an industrial park at Area 55 in Lilongwe and Liwonde Dry Port.

"The park [in Blantyre] will have infrastructure such as factory shells and uninterrupted water and electricity supply to boost trade," said Sindi.

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

Blantyre district commissioner Bennet Nkasala said the council is ready for the project as it would uplift the face of the district and create jobs, particularly for youths.

Afreximbank, headquartered in Cairo, Egypt, is a pan-African multilateral trade finance institution created in 1993 under the auspices of the African Development Bank.

The bank was established for financing, promoting and expanding intra-African and extra-African trade.

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