‘Double revenue from gaming companies’
Francis Namondwe:
Ministry of Industry, Trade and Tourism has urged the Malawi Gaming Board to ensure that they double earnings from foreign companies operating gaming businesses in the country to reflect the proceeds they are making.
This follows a visit Minister of Industry, Trade and Tourism, Salim Bagus, paid the board’s offices in Blantyre on Tuesday.
Bagus said the board should also be vigilant against some companies which do not comply with regulations in their operations and ensure that sanity prevails in the industry.
“I wanted to appreciate how the Board is operating especially if they are collecting enough revenue and if not what are the challenges. I am pleased to say that I am impressed, however, I have advised them that some of these foreign companies sometimes are crooked, they should make sure that they increase the revenue because sometimes these companies make supernormal profits.
“Some of these companies discriminate Malawians and I want to warn them that if they continue through the board we will close them down,” Bagus said.
Chairperson of the Board, Billy Banda, said there are a lot of investment opportunities in the sector which raise expectations as to how the Nation and Malawians will benefit in the near future.
“The growth of this sector is eminent and we are making significant growth that will translate into significant contribution to the economy. The investors are willing to come because the industry here in Malawi is more stable and operates independently,” Banda said.
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