Malawi: Chakwera Says Malawi Is Next Biggest Investment Destination

President Dr Lazarus Chakwera is predicting Malawi will be the next biggest investment destination in Africa and beyond.

He said his administration is initiating various reforms to ease the burden and cost of doing business in the country.

Speaking on Wednesday virtually when he officially opened the Malawi Investment Forum (MIF) taking place at Emperor's Palace in Johannesburg South Africa from May 24 to 25, President Chakwera said he is personally inviting and welcoming investors to Malawi to exploit the various business and investment opportunities available.

He said the MIF is being held in South Africa not only because it is one of the largest economies in Africa but also because South Africa is Malawi's biggest trading partner.

"I invite you to consider investment and partnership opportunities central to our economy which are agriculture, tourism and mining.

"Do not miss out on the investment windfall coming on Malawi way as we are committed to addressing legislative, administrative and legal reforms that reduces the cost of doing business," President Chakwera said.

The Malawi leader said the country is trying to secure new markets globally through leveraging membership to regional and international protocols for integration and markets.

In his remarks Minister of Trade and Industry Simplex Chithyola Banda (MP) said Malawi has prioritised trade and investment in its diplomatic mission as such officers have been deployed to various missions including the consulate in Johannesburg.

He said investors should not face unnecessary hurdles, delays and obstacles when investing in Malawi hence over the past years government has implemented a number of reforms aimed at creating a conducive business environment.

Malawi High Commissioner to the Republic of South Africa Stella Ndau said the MIF signifies the importance of foreign investment to the growth and development of the Malawi economy through numerous business and investment opportunities that are yet to be unearthed and her mission is pursuing economic diplomacy.

One of the potential investors JSE listed R12billion Hosken Consolidated Investment Limited chairman Elias Mphande said his company is impressed with the opportunities unveiled at the MIF and would be coming to Malawi to explore investing in mining, tourism, hospitality and tourism among others.

This article originally appeared on Nyasa Times

Photo: Nyasa Times