Stakeholders have lauded President Lazarus Chakwera for repositioning Malawi to become a mining-reliant nation.
On Sunday, Chakwera said Malawi was a mineral-rich country that just needed discipline to unleash the sector’s full potential.
Malawi Chambers of Mining Coordinator Grain Malunga said Malawi had vast mineral resources, some of which were at the exploration stage.
“We are, therefore, excited that the President has seen mining as an important area for diversifying the economy and we believe that the sector will not get the much-needed support from the government for exploration projects to move with speed,” Malunga said.
Chancellor College Professor of Economics Ben Kaluwa said Malawi needed to diversify its economy by embracing sectors such as mining.
Kaluwa said economic diversification could also focus on such areas as tourism and agriculture.
Centre for Research and Consultancy Director Milward Tobias said the President’s rhetoric should be reflected in the 2021/22 national budget so that mining and other sectors could have the much needed financial resources.
On Sunday, Chakwera indicated that Malawi was ready to turn the corner in terms of economic development options.
“With your help, cooperation and trust, we will turn our mineral capital into development capital. In my view, this is the only way to ensure that the minerals we have in this country are treated not like riches we have inherited from our forebears, but as riches we have borrowed from our children,” Chakwera said.