Malawi: Chilima to Engage Malawians On Mindset Change At Sycamore Wealth Creation Conference

25 August 2021

For economic growth and financial stability to flourish in the country and in order to stay agile and to make the best of changes in life, the mindset needs to encourage and welcome change.

Spurred by the need for many people in the country to change their mindset so that they effectively embrace the change on how they approach worth creation to their advantage, Sycamore Consult Limited is offering the people an opportunity for them to tap knowledge and the technical knowhow to move forward in life.

It is against this background that Malawi's flamboyant Vice President Saulos Chilima, a former corporate world captain and well-known advocate for mindset change and business unusual approach to issues, is this Friday set to speak at the Wealth Creation and Mindset Change conference organised by Sycamore Consult Limited at Crossroads hotel in Blantyre.

Spokesperson for the Vice President, Pilirani Phiri confirmed the development, adding that Chilima, who is also Minister for Economic Planning and Development, will speak at the conference on the context of the MW2063 - the country's development blue print - which centres on wealth creation and has mindset change as one of its seven enabler.

"So yes, I can confirm that the Vice President will address the conference this Friday in Blantyre," Phiri said.

The MW2063 blue print identifies agriculture productivity and commercialization, industrialisation and urbanization as the main three pillars whose implementation will be spearheaded by seven seven enablers.

The seven enablers are mindset change, effective governance systems and institutions, enhanced public sector performance, private sector dynamism, human capital development, economic infrastructure and environmental sustainability

Some of the topics to be tackled during the upcoming conference include wealth creation at the workplace, developing a wealth creation mindset, business capital raising, entrepreneurship, developing a saving and investment culture, agriculture for wealth creation in the African Continental Free Trade Area (AfCFTA), and creating business and personal wealth on the stock exchange.

In his landmark mindset lecture delivered in Lilongwe on October 2020, Chilima challenged Malawians on the need to change their mindset, as a precursor to personal development, national development and the smooth implementation of public sector reforms.

Said Chilima: "We have become a nation too obsessed with trivia. We no longer get interested in life changing discussions. We need to change this."

Managing Director for Sycamore Consult Audrey Mwala said: "It is high time Malawians "de-programed" their negative mindset and replace it with a new mindset of wealth creation if the country is to prosper as envisioned by the Malawi 2063."

Mwala, Malawi's renowned specialist in Private Public Partnership (PPP), business due diligence, financial management and project management, told The Nation Online that there is so much negativity and wrong thinking that make Malawi as country to fail to move forward

Said Mwala: "There is so much negativity, there is so much wrong thinking that make Malawi as country to fail to move forward. So we want people to have a new mindset, we want people to have new mindset, we want to de-program the mindset of existing people, reprogram it with new mindset.

"People should begin to see different things, take different risks, have different perspectives so that when we create a new person out of that, then we will be able to allow that person to create wealth."

Mwala said the reality is that today, Malawians are demanding too much goods and services because of exposure to the international community and also due to population boom-which she said is rapidly rising relative to the availability of resources and infrastructure.

According to Mwala, Malawi's neighbouring countries such as Zambia have their own per-capita income-which is derived by dividing total national output or income by the population size-exceeds $1000 mark yet Malawi's per-capita or average income is way below.

Malawi's per capita income is only at around $603 as of end 2020 from $228 in 1996.

Experts contend that such a status quo is not worth smiling considering that such an increase is on account of the recent rebasing of GDP by the National Statistical Office (NSO) which saw nominal GDP increasing to $10.9 billion in 2020 from about $8 billion in 2019.

Located in Southern Africa, Malawi is landlocked, sharing its borders with Mozambique, Zambia and Tanzania. The country has an estimated population of 18.6 million (2019), which is expected to double by 2038.

Malawi remains one of the poorest countries in the world despite making significant economic and structural reforms to sustain economic growth.

The economy is heavily dependent on agriculture, employing nearly 80% of the population, and it is vulnerable to external shocks, particularly climatic shocks.

The Malawi Growth and Development Strategy (MGDS), a series of five-year plans, guides the country's development. The current MGDS III, Building a Productive, Competitive and Resilient Nation, will run through 2022 and focuses on education, energy, agriculture, health and tourism.

In January 2021, the Government launched the Malawi 2063 Vision that aims at transforming Malawi into a wealthy and self-reliant industrialized 'upper middle- income country.

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