Embassy courting UK investors for 2nd MIF

The Malawi Mission in the United Kigdom says it has started to engage potential investors as Malawi gears up for the second Malawi Investment Forum (MIF) to take place in October.

The first MIF attracted investment pledges of over $1.5 billion.

Malawi High Commissioner in the UK, Kena Mphonda, said they are currently holding discussions with the Commonwealth Enterprise and Investment Council, the Portuguese Chambers of Commerce and the London Chamber of Commerce to mobilise business delegations from the United Kingdom to attend the event.

“Contacts have also been made with Honorary Consuls, Malawi/Scotland Partnership and Investment and Development Agency of Ireland to publicise the event,” said Mphonda.

He further said the embassy is using social media platforms to raise awareness around the event and also to facilitate information for trade inquiries.

“The mission on daily basis continues to facilitate provision of information to all trade inquiries including sourcing of agro-produce such as soya beans and red lentils from Malawi to markets in Europe. Despite the difficult economic climate that has necessitated cuts, we continue to aggressively implement our mandate of promoting Malawi’s trade, investment and tourism as overall strategy to diversify and grow Malawi’s economy,” he said.

Minister of Industry, Trade and Tourism, Joseph Mwanamvekha, said the country stands to reap even more rewards from this year’s investment forum.

“I would not want to divulge more at this moment, but what you should know is that we are receiving overwhelming response from big investors across Europe and America,” said Mwanamvekha.

He said government had made various improvements and expects the second investment forum to be more successful than the first MIF.