Malawi: Government Set to Welcome Investors

Harare — Minister of Foreign Affairs, Eisenhower Mkaka has described investors as key drivers for economic growth and development of any country.

Mkaka was speaking on Monday in Harare, Zimbabwe after meeting a potential investor who has showed interest to invest in Malawi in a number of areas such as agriculture and infrastructure development including construction of university accommodation apartments among others.

The minister said currently, government is in the process of creating a conducive environment for business investors by passing over forty pieces of legislation to streamline and enable the business environment in the country.

"The current regime's drive is to establish solid institutional foundation. Therefore, the government will not tolerate corruption or interfere in the affairs of the investors," he said.

The minister told investors that Malawian Government introduced Malawi Investment and Trade Centre (MITC), a one stop service centre for business start-up in order to ease challenges that were there before, when one wants to invest in the country.

"Malawi has abundant raw materials and tourist destinations ready to be explored by potential investors.

"In addition, Malawi also has a large youthful population which means there is availability of labour and a sizeable market for the goods or services produced," he said.

Homelux Group Managing Director, Justin Machibaya said they are ready to invest in Malawi in areas of cluster housing apartments, agriculture and development of multi-purpose infrastructure.

The infrastructure, according to Machibaya, will include hotels, shopping malls and accommodation apartments for university students among others.

"We have already done our ground work in Malawi before the fresh presidential elections.

"We had our team on the ground and we were able to meet some relevant authorities on our plans.

"We are currently just waiting for the Malawi Government to give us a go-ahead and start registering our company in Malawi. Once that is done then we will take off the ground soon," he said.

Once Homelux Group of Companies starts investing in the country, it is expected that a number of youth will be employed, thereby achieving government's agenda of creating one million jobs for the youth.

AllAfrica publishes around 600 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.