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Government to tap $1 billion from Afreximbank

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By Taonga Sabola:

Malawi is to access a $1 billion facility from Africa Export- Import Bank (Afreximbank) for the development of infrastructure in Mangochi District.

President Peter Mutharika disclosed this in Lilongwe Thursday when he had an audience with visiting Afreximbank President, Benedict Oramah.

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Mutharika said the funds would help in the construction of an international airport, holiday resort at Cape Maclear, logistics park (all in Mangochi) and industrial parks in Lilongwe and Blantyre.

“This fund would make a huge difference to Malawi. In these projects, we are focusing on industrialising Malawi, increasing our production and developing our tourism to unprecedented levels.

“With a new international airport in Mangochi, the world can fly straight to Lake Malawi. We want to make Malawi a tourism star of the world. With the Afreximbank support, we are ready to turn the Nankumba Peninsula into a hub of tourism, finance and transport logistics,” Mutharika said.

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He said the government expected to create not less than 40,000 jobs on the Cape Maclear Tourism project.

Last week, Mutharika also announced plans to develop tourism on Mulanje and Zomba mountains by introducing mountain cable cars.

“We want to give the world a reason for coming to Malawi. And I want Malawi to have an integrated tourist attraction package. Your support is most welcome because it helps us to finance development of tourism in Mangochi,” Mutharika said.

Oramah said Afreximbank was also ready to finance private sector projects in Malawi, including the construction of Liwonde Dry Port.

He said his bank was committed to help Malawi transform her economy into a producing and exporting one by pursuing the industrialisation agenda.

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