President Mutharika in London for UK-Africa Investment Summit

WhatsApp Video 2020-08-10 at 09.37.15

Being welcomed by Foreign Mission Reps
Pres Mutharika arriving in Uk
President Apm welcomed by Min Bagus and Ps Botolo

As 16 Malawian companies expected to attend
His Excellency Professor Arthur Peter Mutharika safely arrived in London, for this year’s UK-Africa Investment Summit slated for Monday, January 20.

The summit is expected to tackle issues of UK-Africa relations with business in mind.

16 Malawian companies are expected to brace the occasion which will be a major highlight to the Malawian community as it seeks to create employment and attract investment from abroad.

Issues of Sustainable Finance and Infrastructure; Trade and Investment; Future African Growth Sectors and Clean Energy and Climate, are expected to dominate presentations and discussions during the Summit. British Prime Minister Boris Johnson convened the UK-Africa investment forum as a platform to strengthen partnerships with African countries and subsequently build a prosperous future for the people of Africa and the UK. The Summit will bring together businesses, governments and international institutions to showcase and promote the breadth and quality of investment opportunities across Africa.

It will strengthen the UK-Africa relations with a notion to build a secure future for all Africans. The summit will also look forward to mobilise new substantial investment to create sustainable jobs, boost mutual prosperity, access to education, improve public services and improve the livelihood of young people to cement their future. Malawi would want to utilise the opportunity to grow its business sector by having 16 companies at the occasion. This is a major step ahead which only does not seek to boost the business sector but benefit various industries as well such as finance, education and trade.

The CEO of Malawi Investment Trade Centre (MITC), Mr Clement Kumbemba said of the 16 companies set to attend, 10 are from the private sector while six are public entities. “The presence of these companies at the summit is a milestone because these are the entities with bankable projects, hence, the optimism that Malawi shall immensely benefit from the forum which will be graced by the His Excellence can not be ignored,” he said.

Some of the companies from the private sector are Cape Maclear Initiative and  Nalipiri Holiday Resort (Tourism Sector) and Mchenga Mine (Mining Sector). From the public sector there is the Green Belt Initiative, Electricity Generation Company (Egenco), Export Development Fund, Malawi Agricultural Investment and Industrial Corporation and Lilongwe Water Board. Commenting on the importance of the Summit Malawi’s Minister of Foreign Affairs and International Cooperation, Francis Kasaila said this compliments the President’s ideals of wealth and job creation as ably spearheaded by his government. He said, “His Excellency the President remains committed to creating wealth and jobs especially for the youth hence his presence at the UK-Africa Investment summit here in London will be a great achievement. It is expected that our President will consolidate his initiatives by meeting with other global leaders.

Upon arrival in London, the Malawian leader was welcomed by Malawi’s High Commissioner to the United Kingdom Kena Mphonda, State Residences Director General Peter Mukhito, Foreign Affairs and International Corporation Minister  Francis Kasaila, Minister of Trade, Industry and Tourism Salim Bagus and Minister of Local Government Dr. Ben Malunga Phiri. The UK is already a leading investor in Africa.

In 2018 alone, the UK’s development finance institution CDC made investments supporting over 370,000 jobs across Africa. Since 2002 the UK’s Private Infrastructure Development Group has invested over £1.95bn in 146 infrastructure projects across Africa.

The stock of UK investment in Africa is worth £39bn in 2018. Therefore, there are high hopes that Summit will mark the beginning of a step in changing in the focus and effectiveness of UK-Africa partnership – a partnership which will build a better future for all.

Yamikani Kachingwe

Yamikani Nicholas Kachingwe is a Malawian with great interest in current affairs, news and storytelling. Over the years, he has established himself as a a great source of news, a private investigator of issues and whistle blower using various social media platforms.

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