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Millennium Challenge Corporation Chief in next week

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By William Kumwembe:

Millennium Challenge Corporation (MCC) Chief Executive Officer, Sean Cairncross, will visit Malawi next week for a review of the country’s social, political and economic status, among other things.

A statement issued by the United States (US) Embassy in Lilongwe Thursday indicates that Cairncross will lead an MCC delegation on a five-day tour of duty from Wednesday next week.

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The Malawi visit is part of Cairncross’ first official travel as MCC head which will include a first stop in Malawi.

“During the visit, MCC CEO Cairncross will meet with government officials, civil society, private sector representatives, beneficiaries of MCC’s projects and other donors to learn more about the social, political and economic issues facing the country,” the statement reads.

MCC Board of Directors selected Malawi as eligible to develop a second compact in December 2018, after successfully completing its first five-year energy compact.

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MCC, in partnership with the government of Malawi, recently completed a preliminary economic analysis and identified three binding constraints to growth.

These include lack of a stable macroeconomic environment as reflected in high and volatile inflation, high price of road freight transport service and barriers to linking farms to markets in rural areas.

Difficulties with access to land for investment due to mismanagement of the estate sector and unclear land rights, particularly for women smallholder farmers were also among the challenges.

Any proposed second compact programme will address all or some of these constraints to economic growth.

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