Malawi ready for Africa Investment Conference
Malawi is geared to participate in the Africa Investment Conference scheduled for Wednesday, focusing on wooing investors into the agriculture sector, Minister of Trade Sosten Gwengwe has disclosed.
The conference, which will be held virtually, will be hosted by the United Kingdom (UK) Department of International Trade and Malawi will be interested in investors in modern agricultural methods as one way of spurring the country’s development.
According to an announcement from the UK Department of International Trade, the conference, which will see 14 African countries participating, will focus on four areas which are sustainable infrastructure, renewable energy, financial and professional services, and agriculture and agri-tech.
Gwengwe said the priority for Malawi would be agricultural transformation.
“We are looking at investors who can invest in high-value crops because there are many other non-traditional crops which are high earners including cannabis; so, we will enlighten them that, given the land resource which we have in the Shire Valley and along the lake, we want agricultural commercialisation,” Gwengwe said.
He added that they would also discuss other areas apart from the priority of agriculture.
Malawi has participated in several conferences of this nature before, which aim to develop the country by establishing stable investments and companies.
Gwengwe further said it might be hard for the public in the country to clearly see the impact of these conferences but they had helped Malawi woo a lot of investors in agriculture and mining, among other sectors.
“These types of conferences are the reason why we are talking of Malawi mangoes and some of these companies that are rolling out in Malawi and some companies such as Mkango Mining,” he added.
According to UK’s Minister of Investment Gerry Grimestone as quoted in the announcement of the conference, despite the global pandemic, investments between nations should be stronger.
“Growing investment relationships will be central in helping economies recover and build back better from the disruption caused by the coronavirus.
“Africa’s economic potential and investment opportunities are huge and our partnership will help to ensure UK and African businesses are able to capitalise on trade and investment opportunities now and in the future,” Grimestone said.
Over 6.5 billion British Pounds-worth of deals were signed at the UK Africa Investment Summit 2020.
Justin Mkweu is a fast growing reporter who currently works with Times Group on the business desk.
He is however flexible as he also writes about current affairs and national issues.